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The essential difference between advertising and promoting is that advertising is a key component of promoting. Advertising consists of all fundamental features of promotions and promoting is considered one of them. Cowl the financials. The financial statements translate your marketing and operational plans into numbers â€” income and cash stream. They determine how a lot cash you will want and the way much you would possibly make. Since that is the most dynamic a part of your plan, and maybe crucial for long-term stability, you need to update this monthly for the primary yr, quarterly for the second year, after which annually after that.
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