Business strategy vs marketing strategy – these are two distinct but closely related concepts in the field of business management.

The difference between the two is, that without one the other simply would not exist.

A business strategy is the glue to the business, ensuring you have the correct fundamentals in place.

Your marketing strategy is what attracts your ideal customer, partners, and stakeholders to the business.

As although they serve different purposes and focus on different aspects of a company’s operations, one can’t exist without another, and you need both to ultimately make your business successful.

Here is a breakdown of the key differences between these two strategies.

The key differences between business strategy vs marketing strategy

Business Strategy: 

The four key areas for a business strategy are as follows.

  1. Scope: A business strategy is a high-level plan that outlines the overall direction and goals of a company. It involves decisions related to the long-term vision, mission, and objectives of the organisation.
  2. Focus: A business strategy addresses how your business will compete in the market and create value for its stakeholders. It encompasses product and service, market positioning, competitive advantage, and financial objectives.
  3. Decision-Making: A business strategy is typically set by top management or the business owner. It guides the entire organisation and influences various functional areas, including marketing, finance, operations, and more.
  4. Timeframe: A business strategy is typically focused on the long-term vision, often covering a period of several years.

 Marketing Strategy:

In comparison, here are the four key areas for marketing strategy.

  1. Scope: A marketing strategy is a subset of business strategy that focuses specifically on the marketing and promotion of products or services. It’s a marketing plan that outlines how a business will reach its target audience and achieve its marketing objectives.
  2. Focus: A marketing strategy dives into the specifics of reaching and engaging customers. It involves decisions related to market segmentation, pricing, distribution, promotion, and branding.
  3. Decision-Making: A marketing strategy is developed by marketing teams and professionals. It is aligned with the broader business strategy and tailored to support the business’s overall goals.
  4. Timeframe: A marketing strategy often operates on a shorter time frame than a business strategy and may be adjusted more frequently to adapt to changing market conditions. It is our recommendation at Ask Zoe, to focus marketing strategy in 365-day time frames and work in 90-day cycles to act and see definite results.

Business strategy vs marketing strategy – Summary

In summary, the overall difference between business strategy and marketing strategy is, that business strategy sets the overall direction and objectives of a company, which can be for a longer time frame such as one year to three years or event five years (sometimes longer).

Whilst the marketing strategy focuses on how to effectively promote and sell products or services to achieve those objectives.

Your marketing strategy will always sit under your business strategy to allow your business to achieve its goals and objectives.

If you would like to know more about business strategy vs marketing strategy, Ask Zoe can help.  Please get in touch today.

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