Looking for your old friend vsdbcmd.exe in visual studio 2012? There's good news and bad news. The bad news is it's gone and it's not coming back. (see this MSDN thread if you don't believe me). The good news is there's a replacement: sqlpackage.exe
The path for sqlpackage.exe is typically:
C:\Program Files (x86)\Microsoft SQL Server\110\DAC\bin
You can learn more about sqlpackage.exe on the MSDN: sqlpackage.exe page.
I'll add more info to this page as I play with sqlpackage.exe more.