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.
So, what is a business strategy? Strategy is different from vision, mission, goals, priorities, and plans. It is the result of choices executives make, on where to play and how to win, to maximize long-term value.âWhere to playâ specifies the target market in terms of the customers and the needs to be served.he target market, value proposition, and capabilities must hang together in a coherent way. And good strategies call for the right amount of âcapabilities stretchâ: not too much or too little change from the capabilities a business already has. Every company faces innumerable options for where to play and how to win.