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.
The following are the major differences between strategy and policy. 1  The strategy is the best plan opted from a number of plans, in order to achieve the organisational goals and objectives. The policy is a set of common rules and regulations, which forms as a base to take the day to day decisions. The strategy is a plan of action while the policy is a principle of action. Strategies can be modified as per the situation, so they are dynamic in nature. Conversely, Policies are uniform in nature.