A business plan encompasses a marketing plan, outlining the company's long-term goals and influencing all aspects of its operations. It serves as a useful tool for staying on track and explaining the intricacies of the business to potential investors. Startups use business plans to launch and attract external investment.
On the other hand, a marketing plan provides a comprehensive overview of how the company will use marketing strategies to achieve the common objectives established in the business plan. The marketing plan is intended for internal use and should not be disclosed to the public. Additionally, it should be adaptable to evolving marketing trends as the company grows.