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.
It is generally necessary to try to grasp many aspects of the external environment, including technological, economic, cultural, political and legal aspects. Goals are chosen. Then, a marketing strategy or marketing plan is an explanation of what specific actions will be taken over time to achieve the objectives.