The usual installer feature is a custom target directory (but not a drive, a directory name). This feature should be available in all non-nonsense installer toolsets. I usually recommend open-source WiX:
http://en.wikipedia.org/wiki/WiX[
^],
http://wixtoolset.org[
^].
One of the main reason for using it to me is probably the most correct integration with both MSBuild and Visual Studio. In this respect (and other aspects) this product is well ahead of the "standard" project template "Setup" which used to come with earlier versions of Visual Studio, as well as many other products. Please see my past answers:
installshield and Visual Studio 2012[
^],
Custom setup project[
^].
—SA
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