Almost every business decision that companies make can now be engineered–just as a bridge is, with almost the same predictability.
But this is not the way organizations currently do things. They mix instinct with rules of thumb and data analysis to arrive at a business judgment – just the way they always have.
There’s a place for business judgment–where the law-like relationships of inputs and outputs cannot be accurately modeled. But each year PBE’s research makes this place narrower and narrower. In the process, hidden profit opportunities are revealed and realized.
Marketing hasn’t become a science at the level physics has–and probably never will–but it’s 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’s 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 without spending one cent more than it currently does–and often spending less. And this $500,000,000 doesn’t go off patent. It’s 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.