3.1 The Value Proposition

3.2 Components of the Strategic Planning Process

3.3 Developing Organizational Objectives and Formulating Strategies

3.4 Where Strategic Planning Occurs within Firms

3.5 Strategic Portfolio Planning Approaches

Section 3.1 The Value Proposition, Section 3.2 Components of the Strategic Planning Process, Section 3.3 Developing Organizational Objectives and Formulating Strategies, Section 3.4 Where Strategic Planning Occurs within Firms, and Section 3.5 Strategic Portfolio Planning Approaches are edited versions of the chapter sections of the same titles appearing in ‘Chapter 2: Strategic Planning’ of the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 3.1: Value proposition; Created new title for Figure 3.5: Substitute products; Created new title for Figure 3.6: The legal environment; Created new title for Figure 3.7: The technological environment; Created new title for Figure 3.9: Franchising; Created new title for Figure 3.12: Satisfying customers’ needs in worldwide markets; Created new title for Figure 3.13: Functional level decisions; Added learning objectives for sections 3.1, 3.2, 3.3, 3.4 and 3.5.