FERENCE BETWEEN A BUSINESS PLAN ANDA MARKETING PLAN
An entrepreneur should understand the differences between a marketing plan and a business plan. The marketing plan focuses on all marketing activities of a venture for one or more. The marketing plan will vary significantly for a firm depending on the industry target market, and the size and of the organization. It is an integral part ofa businessplan, yet, as discussed below, italso is a standalone document that needs to be managed on a short-term basis to ascertain whether the venture is meeting its goals and objectives. The business plan on the other hand is the road map for the entire organization over time focuses on not just marketing issues but also such decisions as research and development, operations, manufacturing, personnel, financial projections and analysis, and future growth strategies. It also should be updated on a regular basis to help management to stay focused and to meet organization goals.