The 21st century business environment demands more analysis and
rigor in marketing decision making. Increasingly, marketing
decision making resembles design engineering-putting together
concepts, data, analyses, and simulations to learn about the
marketplace and to design effective marketing plans. While many
view traditional marketing as art and some view it as science, the
new marketing increasingly looks like engineering (that is,
combining art and science to solve specific problems).
Marketing Engineering is the systematic approach to harness data
and knowledge to drive effective marketing decision making and
implementation through a technology-enabled and model-supported
decision process. (For more information on Excel-based models that
support these concepts, visit DecisionPro.biz.)
We have designed this book primarily for the business school
student or marketing manager, who, with minimal background and
technical training, must understand and employ the basic tools and
models associated with Marketing Engineering.
We offer an accessible overview of the most widely used
marketing engineering concepts and tools and show how they drive
the collection of the right data and information to perform the
right analyses to make better marketing plans, better product
designs, and better marketing decisions.
What's New In the 2nd Edition
While much has changed in the nearly five years since the first
edition of Principles of Marketing Engineering was published, much
has remained the same. Hence, we have not changed the basic
structure or contents of the book. We have, however Updated the
examples and references. Added new content on customer lifetime
value and customer valuation methods. Added several new pricing
models. Added new material on "reverse perceptual mapping" to
describe some exciting enhancements to our Marketing Engineering
for Excel software. Provided some new perspectives on the future of
Marketing Engineering. Provided better alignment between the
content of the text and both the software and cases available with
Marketing Engineering for Excel 2.0.
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