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Todays marketing environment involves... More data than ever More computer power Global connectivity 24/7 Less staff Fast, fast, fast!
his intensive overview, taught by ISBM Research Director Dr. Gary Lilien, provides an in-depth understanding of each of the power tools of Marketing Engineering for Excel.
Marketing Engineering is a systematic approach to harness data and knowledge to drive more effective marketing decision making and implementation. Marketing Engineering employs a set of powerful analytic tools couched in an easy to use and understand interface (a pull down menu in Excel). With these tools you can make better use of marketing data and combine it with the conceptual knowledge you have about your markets to build a more profitable marketing practice.
To enable managers to better understand how the computer models in Marketing Engineering for Excel can help make better use of market knowledge in making decisions. Participants will learn how to understand and use the computer tools in the MEXL toolset, and apply these tools in their work environment. This one-day, intensive program features interactive discussion of key concepts, hands-on experience with the MEXL toolset, and discussion of best ways to deploy tools rapidly and profitably.
This course is ideal for product or marketing managers or business analysts who want to add a powerful suite of easy-to-use templates and computer tools to their arsenal.
The Marketing Engineering toolkit is built around a systematic process of customer value assessment, segmentation, targeting, positioning and resource allocation that forms the core of disciplined, fact-based marketing decision making. (See below)
Conjoint Analysis with MEXL and Choice Models with MEXL Segmentation/Targeting with ME
XL
Perceptual Mapping with MEXL Bass Model Forecasting with MEXL Conjoint Analysis with MEXL : Resource Allocator with MEXL
XL,
This workshop starts at 8:00 a.m. and ends at 5:00 p.m. The format will be show-and-tellthe instructor will provide a brief introduction to a common business problem and the tools available to address it. Participants will work along with the instructor in an interactive environment. When possible, we will use participant generated data to illustrate the power and the benefits of the concepts and tools. Participants will need a laptop computer with a Windows operating system (Vista or XP) and Excel XP, 2003 or 2007.
Market potential for new products Historical sales data OR selection of an analogous product Advertising and pricing plan
Sales/adoption rate forecast for new product Sensitivity of sales forecast to marketing activities Ability to link to revenue and profit projections Customers preferences and responses to new products Relative worth of product attributes Optimal product design Market share estimates for alternative products Drivers for purchase choices Customers willingness to pay for product attributes Potential incremental revenue from new offerings/features Purchase probabilities, predicted and observed choices of customers Factors influencing customer choice, including brand as well as performance attributes Value of current customer base Time required to recoup customer investments ROI on customer/segment investments Size and profitability of customer segments over time; sensitivity to marketing investment plan
Customer ratings of a set of real or potential product offerings, defined by their key attributes Market share of existing products New product profiles
Conjoint Analysis
Customers choice data for alternative offerings Customer ratings of alternative offerings on their key attributes
Observed churn rates Customer acquisition cost Number of customers/segments Gross margins by segment Customer transition probabilities across segments
SBU, product or segment ratings on key attributes Importance of these attributes to the firm
GE Portfolio Matrix
Visual representation of relative attractiveness of SBUs, products or market segments on a 2-dimensional map Sensitivity of map to attribute importance scores Perceptual map, showing which brands are closest to one another Attributes that differentiate brands Locations of individual customer preferences Projected market share associated with current and new positions on the map
Customers rating of focal brand and key competitors on dimensions of merit Individual customer preference ratings of all competitors
Positioning
Number of market segments, products, geographies or other basis for resource allocation Current level of spending and associated sales Profit margins Response functionshow sales would change if spending were higher or lower than current spending Constraints (minimum or maximum) for each basis unit
Resource Allocation
Optimal level of total spending Optimal allocation of spending across units Profit associated with optimal plan versus current plan Incremental gain or loss associated with changes from current or optimal plan
Customers importance ratings for each measure of value for offerings in a product class Customer descriptors (demographic or firmographic variables)
Segmentation/ Targeting
Number, size and profile of needs-based market segments Identification of factors that differentiate segments, both in terms of needs and descriptors Classification tool to allocate any potential customer to a segment based on customerdescriptors
The seminar will be held at the Philadelphia Airport Marriott, One Arrivals Road, Philadelphia, PA 19153. Phone: 215-492-9000. A block of rooms will be held for the ISBM.
$1,750 (includes the MEXL permanent software licenseretailing for $1,500), the accompanying book, Principles of Marketing Engineering (2007), by Lilien, Rangaswamy and De Bruyn and access to recorded webinars. $2,500.
On or before October 1, 2007 No fee Between October 2 - October 15, 2007 $100 fee After October 15, 2007, full seminar fee charged All substitutions after October 15, 2007 will be subject to a $50 administrative fee.
Gary L. Lilien, who coined the term Marketing Engineering is Distinguished Research Professor of Management Science at Penn State and co-founder and Research Director of the ISBM. Dr. Lilien received his BS, MS and DES degrees from Columbia University in 1967, 1968 and 1973 respectively. Prior to coming to Penn State in 1981, he taught at MITs Sloan School of Management from 1973-1981. He is the author or co-author of twelve books including Marketing Models with Phil Kotler, Marketing Engineering with Arvind Rangaswamy, and most recently, Principles of Marketing Engineering, as well as over 100 professional articles. He was departmental Editor for Marketing for the journal, Management Science; is on the editorial board of the International Journal for Research in Marketing; is functional Editor for Marketing for Interfaces, and is Area Editor at Marketing Science. He was Editor in Chief of Interfaces for six years.
Institute for the Study of Business Markets (ISBM) Smeal College of Business The Pennsylvania State University 484 Business Building University Park PA 16802-3603