Marketing: Real People, Real Choices (9th Edition)
Marketing: Real People, Real Choices (9th Edition)
9th Edition
ISBN: 9780134292663
Author: Michael R. Solomon, Greg W. Marshall, Elnora W. Stuart
Publisher: PEARSON
Question
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Chapter 3, Problem 1QA
Summary Introduction

To define: Meaning of marketing plan and difference between marketing plan and business plan.

Introduction: Marketing plan means the outline of objective and strategy that will define the marketing environment. Marketing plan outlines the plan till the product reaches final consumers.

Expert Solution & Answer
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Answer to Problem 1QA

Marketing plan means outline of the marketing environment through which product will go on. Marketing plan is made for the process the product will be sold and business plan is made like how the product will reach to its final consumers.

Explanation of Solution

Given information:

Meaning of marketing plan and difference between marketing plan and business plan.

Marketing plan means the outline of objective and strategy that will define the marketing environment. Marketing plan is made when the product is ready to be sold in market, the way it will be presented to consumers, etc.

Marketing plan works on particular way to sell the product but business plan works on whole process from selecting raw material till it reaches final consumers. Business plan is made to outline the whole journey of a particular product or services.

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