The difference between a "marketing strategy" and a "marketing plan"

While most people think that a “marketing strategy” and a “marketing plan” are interchangeable, they are in fact two entirely different processes

1) Marketing strategy

-What is it?

Overview of a business’s long-term marketing vision

-What does it contain? Includes objectives, marketing goals, target markets, competitive analysis, and value for customers

-How is it used?

Can guide marketing efforts at large and be the basis for each version of the marketing plan

2) Marketing plan

-What is it?

Describes the concrete actions and tactics that a business uses to execute a marketing strategy and meet objectives

-What does it contain?

Includes marketing campaign goals, key performance indicators, buyer persona’s, competitive analysis, action plan, and method of results analysis

-How is it used?

Can centre on an individual marketing campaign and be adapted for future campaigns.