Wake Forest University Schools of Business announces 2010 Marketing Summit Case Competition Sponsor

10.14.2009 General, News Release, School News

Wake Forest University Schools of Business kicked-off the highly anticipated 20th Anniversary of the Marketing Summit with the announcement of its Case Competition Sponsor.

Every year, Wake Forest University, attracts talented marketing minds from top MBA and undergraduate programs nationally to participate in the Marketing Summit — a student run competition that offers both graduate and undergraduate students the opportunity to apply their marketing skills and creativity to real-world marketing challenges. In previous years, MBA candidates from schools such as University of Virginia (Darden), Harvard, and University of Chicago (Booth), have been put to the test by leading sponsors including PepsiCo, Microsoft, and Apple.

For this year’s 20th anniversary, the Wake Forest Schools of Business have once again secured a true industry leader for the Marketing Summit challenge. On Tuesday, October 14, it was announced that IBM, “a company whose impact spans a century,” will be the official case sponsor for the 2010 Marketing Summit scheduled for February 4-6, 2010. With a culture that has spawned numerous Nobel prizes, IBM’s participation will continue to heighten the caliber of competition at the Marketing Summit and is sure to offer a unique challenge to the 2010 teams.

Marty Wilson, Wake Forest ’10 MBA candidate and co-chair for the 2010 Marketing Summit said, “We are so excited to welcome IBM as our sponsor. To have such a highly-respected, pioneering company from the technology industry is such an honor. We know that the challenge presented in this year’s case will test the skills and abilities of each of the competitors and will foster creative and innovative thinking among all of the team members. Working with IBM executives will also provide invaluable opportunities for our students to network with and learn from some of today’s top business leaders.”

The task in February 2010 will be daunting. The marketing case will have been developed by Wake Forest MBA students in conjunction with IBM executives and kept under lock and key until the initial day of the competition when it is announced to the competing teams. In a short 36 hours, the teams will work around the clock to craft a strategic marketing plan to address the given challenge. At the end of the competition, sleep-deprived students will present their solutions to a panel of industry-leading experts. The winning team not only gets bragging rights, but also a cash prize of $50,000. Awards will also include a $10,000 second prize, $5,000 third prize for the MBA competition and $10,000 first prize, $2,000 second prize and $1,000 third prize for the undergraduate competition. Total awards of $78,000 cash are $23,000 more than last year which makes this the largest purse ever.

Roger Beahm, Wake Forest professor and faculty advisor for the Marketing Summit said, “The Marketing Summit has continued to gain prestige every year, and we have been able to attract some of the best companies in the world as sponsors and the best schools for the competition. But to me, the most exciting aspect is the fact that the Marketing Summit is completely student led and student managed. From setting the growth objectives each year to formalizing the strategies and tactics that deliver them, the students are the drivers. The success of the Summit reflects the work of 3 student co-chairs, an executive committee, and numerous MBA student volunteers which make up over 70% of the student body. The results are strictly world-class.”

Other corporate sponsors for this year’s Summit include: BB&T, Altria, and BBDO New York.