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.
5) Traditionally, marketing philosophies have been categorized as consumer-oriented, production- oriented, and sales-oriented. 6) U.S. businesses have shifted their focus toward a consumer orientation. It is also the preferred approach. 7) It is a customer-oriented marketing philosophy that begins with customer needs. 8) A firm's marketing philosophy determines how strategic marketing activities are used to achieve business goals.