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Pricing Model

Posted in Software Models

What you put in... What you get out...
  • Buying intention for a product at a number of different price points
  • Aggregate demand level estimate for any price level
 

Teaching Tips - Videos

Posted in Teaching Tips

  1. Be sure to view the video yourself before showing it to a class. It is important to let the class know exactly how much material they are going to see and what they are going to see beforehand—don’t try to surprise them.
  2. Lower expectations. While the content is outstanding, these videos vary in quality. Most are quite ragged, both in terms of video quality and in terms of presentation. That is because these are not studio shots with retakes possible—this is live video incidental to the competition. We should be happy to have these live records. It is recommended that you download the videos to a local hard drive before showing to the class. Videos may be download directly from the MIT TechTV website. This will prevent any issues that may occur while streaming video over the internet.
  3. Stop and start. Do not show the videos in their entirety. Stop the videos as you proceed and make key teaching points during those stopping times. Also, encourage the class to “interrupt the speaker.” This is an advantage of the video—you can stop the speaker and ask him or her (you, the instructor) to elaborate or clarify anything that has been said. Try to make the viewing an active event by stopping frequently and asking questions.
  4. Wrap up. Be sure to ask the class what lessons they learned after the video is over. Relate these lessons to the class material/software and they will get a deeper understanding of what is possible.

Courtyard by Marriott Video

Posted in Edelman Videos

Concept:

New Product Design/Conjoint Analysis

Title:

Designing a Hotel Facility with Consumer-Based Marketing Models - Courtyard by Marriott Corporation

Video Length:

~35 minutes
Summary: Marriott applied a conjoint-analysis-based approach involving all major hotel features and services influencing choice to design a new hotel chain. As a result, specific guidelines were selected, from target market segment of population to physical layout and services, resulting in Courtyard by Marriott, a concept successfully test marketed and subsequently introduced nationally and which spawned an entire new product category in the hotel industry.

Management Decision Systems Video

Posted in Edelman Videos

Concept:

ASSESSOR Model

Title:

Pre-test Market Models: Validation and Managerial Implications - Management Decision Systems, Inc.

Video Length:

~29 minutes
Summary: The Assessor model was developed to test and evaluate new consumer products before the expenditure of a test market. The predictive value of the model has a 6:1 benefit to cost ratio and has saved clients $126 million on 450 tested products.

ABB Electric Video

Posted in Edelman Videos

Concept:

Segmentation

Title:

Integrated Models to Enable a New Business to Gain Market Share Against Established Competitors - ABB Electric

Video Length:

~24 minutes
Summary: ABB Electric pioneered the use of the "switchable customer" approach to customer targeting as well as the use of logit choice models to identify product attributes most valued by customer. Their decade long program of sales targeting, product development and segmentation allowed them to increase their prices and grow their share from 4% to 40% and also grow their profitability at a time when industry demand dropped by 50%. 1988, ABB was industry leader, with GE and Westinghouse having closed major production facilities.