“Systematic marketing decision-making can improve marketing productivity by 5% to 10% with minimal additional costs,” said Gary Lilien, distinguished research professor of management science at the Smeal College of Business Administration at Pennsylvania State University and co-founder and reseach director at ISBM. He said the tool’s interface had been revamped and simplified based on user feedback.
Marketing Engineering for Excel, an Excel add-in, features eight analytical tools, including market segmentation and targeting, customer lifetime value and conjoint analysis. The software suite also includes a companion book, “Principals of Marketing Engineering,” and webinar-based training.
Marketing Engineering for Excel, now in beta, will be available for sale at the end of March. Although final pricing has yet to be finalized, ISBM officials said the tool will cost around $1,000, with discounts for ISBM members.
The software was announced and demonstrated at ISBM’s two-day conference, B-to-B Marketing: Beyond Best Practice to Next Practice, which attracted about 125 marketers.