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by Martin Braun, Marketing Club Member 2000-2002 MBA 2002
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Imagine a start up company with such a clever and original idea, that it might very well revolutionize the way advertising will be done in the near future. Now imagine that the company comes to you for advice on price, promotion and distribution of its new product. The company’s management team charges you with questions such as: what should the market entry strategy be? What are the possible risks and benefits of targeting a specific market? What strategic partnerships should be considered? What is the most effective way to sell the product? What other opportunities exist for the company? You analyze the company’s new product, its potential customers and competitors, and carefully recommend a course of action. Who knows, your recommendations may very well help this company enter the market successfully and shape the future of advertising!
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Now stop imagining. This is exactly what 58 Carnegie Mellon MBA students were charged to do on January 20, 2001. It was the 5th Annual Real Time Case Competition sponsored by the Marketing Club at Carnegie Mellon and the local company InnovationWorks. The situation was real-time. A company had indeed come up with such a product and wanted our go-to-market advise. There were 12 teams of about 5 students each. The event started at 7:30 in the morning with a breakfast buffet. |
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Then each team met for four hours to read and analyze the case. The teams also had the option to meet face-to-face for up to 30 minutes with the company’s management team to ask them any questions that might have been unanswered in the case. In the afternoon, the 12 teams were scheduled to make 30 minute PowerPoint presentations in front of a panel of judges: the company’s management team and a number of GSIA Marketing and Oral Communications faculty members. Three teams were chosen to pass to the second round. These teams presented again, and finally, at 6:30 in the evening, the award ceremony was held. My team had won first place. We received a small trophy, $1000, and the right to participate in a future Marketing competition against other top business schools.
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I have participated in four case competitions so far, Deloitte, Digital, International Business Club and Marketing Club. Participation in these events is optional. However, the experience complements your business education wonderfully. You learn to analyze and discuss a complex case under time pressure, work as a team and plan an effective presentation. You learn to communicate effectively in front of a panel of judges, be persuasive yet concise, and answer tough questions on the spot. You also learn a lot about the company you happen to be analyzing and the industry in which it operates. You learn about new technologies and current events. And finally you get to take home some cash if you win! |
As MBA student at Carnegie Mellon, be sure to take advantage of these extra-curricular opportunities. They add a lot of value to your education. They give you a chance to put in practice what you have learned so far in class and to rehearse your presentation and leadership skills.
The
Real Time Internal Case Competition generously sponsored by
