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The Difference Between Marketing Plan and Marketing Strategy

This is part 3 of writing your business plan. Click here for for part 2

Marketing Plan Pro

Many new, home business owners are confused about the difference between a Marketing Plan and the Marketing Strategy.  I will explain it here in simple, simple layman terms.

In your business plan you will have a section where you explain your MARKET.  Essentially you are PLANNING how your product/service relates to the market. In simple details it includes:

  • Products and/or Services and your Unique Selling Proposition
  • Pricing Strategy
  • Sales/Distribution Plan
  • Advertising and Promotions Plan

When you start to explain HOW YOU WILL REACH your customers (your Target Market) you are now writing out your Marketing Strategy. How and where are you going to advertise and how will you generate publicity?

Should your home business have a marketing plan or a marketing strategy? You need both, written in detail, even if you don’t need financing.

Tomorrow, I’ll address how to estimate realistic sales and realistic advertising costs.

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To Our Mutual Success, Lady T



5 Comments
  • Sherri
    June 15, 2014 at 10:10 pm

    Hi there to every one, the contents present
    at this web site are in fact awesome for people experience,
    well, keep up the good work fellows.

    Reply
  • Laura
    May 13, 2014 at 11:07 am

    I like the helpful info you provide in your articles.
    I will bookmark your blog and check again here frequently.
    I am quite sure I’ll learn many new stuff right here! Good luck for the next!

    Reply
  • JAMES
    September 1, 2011 at 8:40 am

    This is a very good explaination! you really broke this information into bite size pieces!

    Reply
    • Lady T
      September 14, 2011 at 12:19 am

      Thank you James. I work consciously at making the “difficult” easy.

      Reply

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