Profile vs Page
In the early days of Facebook pages didn’t exist so people used a facebook profile for thier business. With the creation of facebook pages a user profile can create a facebook page for their business and separate their profile from their business. People become “fans” of your facebook page rather than “friends” of your profile. The difference is a “fan” will receive updates on their wall when you post anything to your facebook page. Fans in turn can then make comments about your post that end up being put on the wall of your facebook page and not your profile page.
Another key difference is you can have only 1 facebook profile for your name but you can have multiple facebook pages. You can create a facebook page for your business and then also create a facebook page for a special event like an end of year clearance sale. The television industry has capitalized on that with the Fall 2009 roll out of new programming. For example ABC has created a facebook page for thier new series Cougar Town http://www.facebook.com/pages/manage/#/CougarTown . Get the idea?