Three business majors from Loyola Marymount University won first place at the 25th Annual Manitoba International Marketing Competition. Regan Hickey, Megan Jennings and Katrina Lee all seniors, competed against 120 students from more than five countries on their way to bring home the top prize.
“This is an educational and effective way for students to experience how marketing works in the international arena,” said 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 competition took place at the I.H. Asper School of Business in Winnipeg, Canada where 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 have played the same computerized marketing game since 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. It was so gratifying to see that the 10-hour days we slaved away analyzing reports, competitive activity and marketing trends wasn’t in vain!” said Megan Jennings, one of the winners of the competition. “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 students’ awareness of globalization,” said Florsheim.
Only 20 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 and has earned a reputation of excellence.