The profit on a particular business is always a function of the amount of units the business sells, times the margin made on each unit, less the marketing expense involved, less the direct overhead. Marketing expenses include things such as advertising, promotions and public relations efforts.
slide 4 of 7. Which Comes First An overall business strategy is outlined in the business plan. Since the marketing plan and marketing strategies are a part of the overall plan, they are included in the business plan. Financiers and lenders can use the marketing plan as a pullout from the business plan.
Strategy and tactics are two different things. When you formulate business strategy you choose tactics that will help to achieve your strategic goals. Strategy refers to a direction toward a goal. Tactics are the actions taken to support that strategy. Most businesses deal with five types of strategy and the tactics used to achieve strategic goals: product, pricing, marketing, operational and financial strategies.