Marketing Plan: In this you perform, precise activities which helps in achieving the goals and objectives you are targeting at. Here, you plan how you will promote the product/service? What are the specific areas of promotion? What would be the budget of this plan execution? Etc. Plus, you also estimate the ROI of this marketing strategy.
I once sat in a meeting of project and business updates and suddenly one of the directors said, actually with all that we have now we can be in the medical device market. Violaaa!!! This medical device company used to service government hospitals and they have all the equipments. It's just that they never thought of going direct to the hospitals and take the lion share of the business. In that meeting, after going through the company yearly updates, this "innovation" came instantaneously and the next year they are pitching about it to the government hospitals directly.