MBA Team Takes Top Spot in National Marketing Case Competition
January 27, 2016
First-year Full-time MBA students Martha Polanco, Allie Cheatham,
A team of MBA students from the School of Business took first place in the 2015 Lincoln MBA Challenge, a two-week long national case competition among MBAs from some of the world’s top business schools. The Miami team, formed by first-year Full-time MBA students Martha Polanco, Diana Cabrera, Allie Cheatham and Felipe Gaviria, topped MBA teams from Wharton, Yale, UCLA, the University of Virginia, Brigham Young, Berkeley Haas, Michigan, George Washington, Northeastern, Penn State, and Ohio State.
The Lincoln MBA Challenge, which ended in November, is a brand-new initiative straight from the boardroom at the Lincoln Motor Company. This program allows MBA students to face real-world marketing challenges and compete against other top-tier students in creating authentic marketing strategies and implementing those strategies in a test-drive challenge.
The 2015 participants were tasked with targeting a specific market segment: making the Lincoln brand relevant to lawyers and law students within their communities. They had to come up with a strategy to address the following:
- Market Research - Identify existing and potential customers, examine the “needs”, trends, market changes, and current events.
- Product Mix
- Determine what, if anything, makes Lincoln fundamentally different from the competition.
- Best Marketing Activity - Identify marketing activity that will ensure the target market knows about Lincoln products/ offers.
- Marketing Tactics - What other marketing activities will you engage to cater to this customer?
- Tracking Results - How will you track these marketing tactics/best practices and determine their effectiveness?
- Social Engagement – How will you utilize use social media in accordance with applicable law, to market to these customers?
Teams were judged on smart innovation, brand consistency, real-world application and how many test-drives they get. As the winning team, the Miami MBAs took home a $10,000 grand prize for the marketing club. Congrats!