Platform planning is a strategy that can be effectively used to manage today’s rapidly changing environment. It is the process by which core elements are identified and used as a foundation for future growth. Although platform planning is most often associated with product design, its value is now being acknowledged along other dimensions of marketing strategy such as brands, target markets, geographical markets, and business processes. This paper summarizes literature introducing different dimensions of marketing strategy that platform planning can be applied to. Next it introduces findings from engineering literature regarding the benefits and risks associated with this type of planning. Finally, it applies engineering knowledge to strategic decision-making in marketing. For example, engineering literature suggests that platform-based planning for global markets will allow firms to better balance the adaptation versus standardization decision but could lead to suboptimal designs and the emergence of grey markets.