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Marketing Engineering |
Almost every business decision companies make can now be engineered – just as a bridge is, with almost the same predictability. But this is not the way organizations actually do things. They mix instinct with rules of thumb and data analysis to arrive at a business judgment – just as they always have. There is a place for business judgment – where the law like relationships of inputs and outputs can not be accurately modeled. But each year PBE’s research makes this place get narrower and narrower. In the process, hidden profit opportunities are revealed. Marketing hasn’t become a science at the level physics has, and probably never will, but it is much closer than marketers think or – perhaps more importantly – are willing to believe. Marketing Engineering frightens some people. They see functions being performed better by soulless computers. Sometimes that is true. Marketing Engineering changes the nature of work. It’s called progress. But anyone responsible for the bottom line and to shareholders realizes that wherever a decision can be made more accurately – with less error – by a model or set of laws (formulas), it should be made that way. With Marketing Engineering, a $10 billion pharmaceutical company can almost certainly find an additional $500,000,000.00 without spending one cent more than it currently is – often spending less. And this $500,000,000.00 doesn’t go off patent – it is there for the taking year after year. With Marketing Engineering, most of the money that’s being unwittingly left on the table can now be scooped up and brought to the bottom line – or invested in R&D, to keep the top line growing. |
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