A business plan is also a road map that provides directions so a business can plan its future and helps it avoid bumps in the road. The time you spend making your business plan thorough and accurate, and keeping it up-to-date, is an investment that pays big dividends in the long term. Your business plan should conform to generally accepted guidelines regarding form and content. Each section should include specific elements and address relevant questions that the people who read your plan will most likely ask. Generally, a business plan has the following components:.
Sample Business Plan
Marketing plan - Wikipedia
A business plan is a formal written document containing the goals of a business , the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets. In its entirety, this document serves as a road-map a plan that provides direction to the business. Written business plans are often required [ by whom?
Marketing Plan Example – Sample Marketing Plan Template
Business plan and marketing plan are two common types of plans and the difference between them are clearly specified in commerce and management disciplines. As the terms imply, business plans cover all the areas of a business while marketing plans covers only the marketing aspect of a business. Business plans usually develop in start-up businesses mentioning all the strategies and actions required to run the business including all the functional areas. But, in the case of marketing plans, all the necessary actions relating to the marketing function is highlighted and marketing strategies are proposed in the plan. Also, in most of the cases, business plans are developed in business formation while marketing plans are developed in established businesses to achieve desired marketing objectives.
A marketing plan is an operational document that outlines an advertising strategy that an organization will implement to generate leads and reach its target market. A marketing plan details the outreach and PR campaigns to be undertaken over a period, including how the company will measure the effect of these initiatives. The functions and components of a marketing plan include the following:. The terms marketing plan and marketing strategy are often used interchangeably because a marketing plan is developed based on an overarching strategic framework. In some cases, the strategy and the plan may be incorporated into one document, particularly for smaller companies that may only run one or two major campaigns in a year.