Three business majors from Loyola Marymount University (LMU) won first place in the 25th Annual Manitoba International Marketing Competition at the I.H. Asper School of Business in Winnipeg, Canada.
Regan Hickey, Megan Jennings and Katrina Lee, all seniors, competed against 120 students from a number of countries to win the top prize.
“This is an educational and effective way for students to experience how marketing works in the international arena,” said LMU associate vice president for academic affairs Renee Florsheim, who coordinated the students’ participation in the competition.
“Our students won first place showing off their talent, skills and abilities to work in teams.”
The students participated in a marketing strategy simulation, which was judged by professors and prominent business members of the community.
The goal of each team was to develop a strategy to maximize market share and profitability of a hypothetical company by using the students’ marketing and business knowledge.
To prepare for the competition, students played a computerized marketing game starting in October. The students then defended their decisions made to the panel of judges.
“When they announced second place before us, I think my heart literally fell out of my chest,” Jennings said.
“It was so gratifying to see that the ten-hour days we slaved away analyzing reports, competitive activity and marketing trends wasn’t in vain. It was the best way ever to top off our senior year.”
The purpose of the competition is to develop students’ understanding of marketing principles through the use of strategic decision making and to provide an international, academic experience with the cooperation of the business and academic community.
“In the business world today students will most likely be facing an international job market and this competition broadens student’s awareness of globalization,” said Florsheim.
Twenty teams are invited to attend the competition from Canada, Europe, Asia and the United States. LMU has been involved in the competition for more than eight years.