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:

Entrepreneurs

Individuals who initiate, manage, and take on the risks of a business or enterprise with the aim of making a profit.

Obtaining Financing

The process of securing funds to start or expand a business, typically through loans, investments, or grants.

Start-Up Companies

New businesses in the early stages of development, often characterized by innovative products or services and aimed at fulfilling a specific market need or niche.

Small Business Administration (SBA)

Principal government agency concerned with helping small U.S. firms.