Marketing Plan Vs. Business Plan
With time, people just made them seem interchangeable. But in reality, a business plan is so different from a marketing plan. So you need to really understand each one of them in order for you to be successful in your business.
Marketing Plan
Your marketing plan can also have an annual plan or even up to 15 years. Nonetheless, most companies prefer designing their marketing activities a year ahead. This would mean an annual marketing planning session for these companies. Still some have 3 to 4 years of practical planning for their marketing.
How do you create an effective marketing plan? Write it down. A written document can help you measure the results of your marketing activities for the year. A detailed and more specific action plan can help you provide a strong program that will be able to accomplish your objectives for your business.
Business Plan
Your business plan also positions your goals for your organization. This is where you see the mission-vision statements. It allows you to plan the why’s and how’s of your goals. And it provides your company background as well as the teams and staff working for each activity within your company. In a nutshell, your business plan tells you of who you are; where you want to go; and how do you get there.
Both the business and marketing plans are different from each other. Nevertheless, they are both important in making sure that you reach the goals that you’ve set out to do when you started your business.