How sweet it is.
Marketing majors from Temple University’s student chapter of the American Marketing Association (AMA) won the parent organization’s annual Collegiate Case Competition by delivering a marketing strategy for a product from event sponsor The Hershey Company.
The Temple AMA team took top honors ahead of the University of Pennsylvania, Texas State University, and Ferris State University, among other tough competitors. The team of marketing students from the Fox School of Business assembled a thorough, research-driven marketing plan for Hershey’s Ice Breakers Cool Blast Chews, emerging from a field of 91 college chapters to claim first place in the prestigious competition for the first time. The $3,000 top prize will be allotted toward defraying costs related to next year’s case competition, the team said.
“This puts our chapter on the map,” said junior Lily Tran. “Now, other chapters across the country and internationally will look to us as a prime example of what it takes to win.”
The Temple AMA all-junior presentation team comprised Tran, Abbey Harris, Rachel Baker, and Alexander Brannan. The written case team included seniors Taylor Sauder, Rachel Zydyk, and Jennifer McGill. Temple AMA was one of 10 national finalists invited to deliver a presentation at the AMA International Collegiate Conference, held March 17-20 in New Orleans.
The final presentation culminated more than seven months of original research, situation analysis, conducting focus groups and surveys, and marketing recommendations by the Temple AMA team. The group had submitted its written case to AMA in December and, one month later, learned that it had been selected as one of the 10 finalists. From there, they delivered a number of “dry-run presentations,” said Dr. Craig Atwater, Assistant Professor of Marketing and Supply Chain Management at Temple’s Fox School of Business, and one of Temple AMA’s three faculty advisors.
“Our team took tips from the faculty members and PhD students to whom they made their practice presentations and fine-tuned the presentation until it was perfectly polished,” Atwater said. “Their focus groups and taste tests also helped our students determine that the product’s positioning was ambiguous. It’s not a gum, as it dissolves within 15 seconds, and yet it’s not a mint. It’s instead classified within a subcategory, as a power-mint. Our students found that for millennials, who enjoy trying new things, this product is cool and fun, but they found that it also required an explanation.”
Those elements proved critical to the Temple AMA team’s presentation, which the group delivered before a trio of high-ranking executives from Hershey. Then, the marketing students waited until all other names had been announced before celebrating their victory.
“While awaiting the results, I remember counting the spots and losing count because my heart started to pound,” said Harris. “TU-AMA is improving in reputation thanks to our incredible faculty advisors – Dr. Craig Atwater, Professor Jim Thompson, and Dr. Drew Allmond – our talented Fox School professors, and the support of the Marketing department.”
Added Baker: “I believe our success is a direct tribute to Temple University’s dedicated faculty, who over the past three years have consistently encouraged innovation in team settings, fostered perseverance, taught us how to think strategically, and have pushed us to reach our potential.”
Molly Belmont, a Risk Management and Insurance student from Temple University’s Fox School of Business, has been selected as the winner of the 2016 American Association of Managing General Agents (AAMGA) Student White Paper Research Contest.
A junior, Belmont won the AAMGA competition’s Technology and Wholesaler category for her paper, “Internet of Things Insurance, Opportunities, and Threats.”
In her paper, Belmont focused on three distinct areas – the connected home, the connected car, and the connected self – and discussed benefits and potential flaws in the collection of data through the Internet of Things IoT.
“While these devices can help insurance companies price better premiums and lower risk, and can also better educate the consumer and help them identify exactly what they’re paying for, there is a cyber risk involved with these devices that most companies didn’t necessarily consider,” said Belmont, a native of Malvern, Pa. “These systems can be hacked and create unforeseen dangers.”
Belmont said the paper was the culmination of more than one month’s work, during which time she utilized more than 20 sources. She said it was the first writing competition in which she’s taken the top prize. Belmont credited Fox School Assistant Professor Storm Wilkins with the encouragement to enter the competition.
For her winning entry, Belmont will receive a scholarship totaling $1,000; an all-expenses-paid trip and registration for the 90th AAMGA Annual Meeting, to be held May 22-25 at the JW Marriott Desert Ridge Resort in Scottsdale, Ariz.; an opportunity to shadow an AAMGA member during his or her meetings at the conference; and publication of her paper in the May issue of Wholesale Insurance News magazine, which is distributed to more than 1.4 million insurance professionals in more than 40 countries globally.
“I’ve been looking into the schedule of events and the networking opportunities available at the conference,” said Belmont, who this summer will serve as a benefits intern in the Philadelphia office of Arthur J. Gallagher & Co. “I wasn’t expecting to win, so it’s a big thrill.”
All business plans for the Be Your Own Boss Bowl (BYOBB) competition are due this Tuesday, March 17 at 11:59 p.m. Competitors will submit their plans to https://app.wizehive.com/appform/login/byobb2015 and BYOBB finalists will be announced by April 1. As a reminder, you must include three items in your application:
- The business plan (http://d3iovmfe1okdrz.cloudfront.net/wp-content/uploads/2015/02/2015.BYOBB_.Template1-11.doc)
- A pitch deck
- 3 year excel Profit and Loss Statement
If you have any questions about the BYOBB competition please look at the BYOBB website, email firstname.lastname@example.org or call 215-204-3082 for more information. We will have people standing by until 8:00 pm on March 17th to answer questions.
Don’t forget to use the hashtag #BYOBB2015 to join in on the conversation.