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In this contribution, a novel design approach, the M3- approach (methodologies->models->measures), for efficient, reliable and cost-effective design of electronic system packages and integrated components is presented and illustrated using a system-in-package (SiP) module as well as a microstrip patch array antenna and an inductor, as examples. The M3-approach entails developing or applying reliable methodologies for efficient and accurate modeling of system packages and integrated components; using the extracted and experimentally validated models to study the impact of different packaging technologies, integration options, component placement/routing possibilities, immediate surroundings as well as manufacturing tolerances on system performance; and finally, based on these studies, extracting reliable design measures. Applying these measures at the pre-layout stage leads to the elimination of re-design efforts and place/route iterations. Consequently, time to market as well as cost is considerably reduced while performance is optimized.