A Key Difference Between a Marketing Plan and a Business

question 5

Multiple Choice

A key difference between a marketing plan and a business plans is that

• A) a marketing plan is used for consumer products and a business plan is used for industrial products.
• B) a marketing plan contains a greater degree of detail regarding research and development, operations, and manufacturing activities of the organization.
• C) a business plan contains a greater degree of detail regarding research and development, operations, and manufacturing activities of the organization.
• D) a marketing plan covers a greater length of time for its financial projections.
• E) a business plan covers a greater length of time for its financial projections.

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Definitions:

Producer Surplus

The difference between the amount that producers are willing and able to supply a good for and the amount they actually receive (selling price).

Equilibrium

A state in which market supply and demand are balanced, and as a result, prices become stable.

Market

A place or system where buyers and sellers interact to trade goods, services, or resources.

Price

The money total set, required, or given as remuneration for something.