Differences between Marketing Strategy and Marketing Planning

Differences between Marketing Strategy and Marketing Planning:

Marketing Strategy: It is the explanation of the goal an organisation needs to achieve with its marketing efforts. Marketing strategy is shaped by organisational goal.

Marketing Planning: Marketing planning is the way an organisation is going to achieve marketing goals.

Overall it can be said that strategy is explanation (thinking) and planning is doing (how strategy can be implemented).

Example:

Objective: To gain broader market adoption.

Marketing Strategy: Introducing into new market segments

Marketing Plan: Developing marketing campaign that reaches out, identifies with and focuses on that specific segment.