Marketing Strategy Competition
Who can participate? Open to all marketing students in the MBA and MS programs. Only 36 students will be allowed to participate in the competition.
What are the prizes?
FIRST PRIZE IS $900.
SECOND PRIZE IS $300.
When is the competition? The competition begins on Saturday, March 3, 2012 in JSOM 2.801. The competition end date is Saturday, April 21, 2012 with a prize ceremony and fun from 9:00 am to noon in JSOM 1.118.
How much does it cost to participate? There is an entry fee of $35 per person for the cost of materials and software access.
What do we have to do?
Each team of 6 students will compete against five other teams to successfully manage their fictional industrial company over a multi-year period. The marketing simulation will be run in an online environment and so there are only two meeting times. Each team starts out with the same portfolio of brands, sales force and budgets.
The main goals of each team are to gain market share, increase profits and increase stock price by making smart marketing decisions. Teams will decide on:
- What new brands to introduce to the market?
- What prices to set for each brand?
- What advertising budgets to allow for each brand?
- How many sales force to employ and how to allocate them to different channels?
- How much of each brand to produce in each period?
- Which segments to target?
- What advertising positioning to employ?
After the teams submit their decisions, the simulation will be run and teams will get feedback (reports) on how they performed in that period. Each team will make 5 or 6 such decisions and the winning team will have the highest stock price. All decisions will be made using online software and teams can work from wherever they are located.
Since each team’s actions directly influence the market, competitive analysis is a must. Competitor actions and reactions, new product launches, sales and distribution strategies all define how teams manage their own product portfolio, R&D projects, positioning, pricing and distribution channels. The competition is real, but so is the teamwork. Participants not only learn from the simulation, but from each other, keeping the level of enthusiasm high.
This competition will seek to train marketing professionals to apply their skills in a learning environment. The competition will be conducted by BPS Murthi and Abhijit Biswas, both marketing faculty.
How do I register?
Register here. You will need to enter your name, UTD Net ID and telephone number. You must also select which program you attend at UTD. You must also attend the first competition meeting on Saturday, March 3, 2012 at 9:00 am in JSOM 2.801.
972-883-4743, JSOM 3.704