Abstract This article presents an approach to integrate conceptual design and marketing by using a systems engineering approach. A methodology is applied that has successfully linked conceptual design with cost modeling to now also integrate marketing considerations. By combining technical product models and cost models with a market model in one integrated model, an added value is generated: Systems engineers can analyze entire business cases. The paper describes how the market model works, shows the interfaces to conceptual design and cost modeling, and discusses the integration into the overall design process. The full model is applied to the development of the European satellite navigation system “Galileo.” Development teams can easily change parameters in the design and analyze the effects of these changes on, for example, market revenues. To quantify differences among design alternatives, two approaches are considered: (a) a measure of effectiveness (market robustness) and (b) cash‐flow curves to model, simulate, and evaluate entire business cases. © 2002 Wiley Periodicals, Inc. Syst Eng 5: 315–326, 2002