Biz students to develop strategies to build loyalty for VF
VF Corporation, a global leader in branded lifestyle apparel, challenged some of the brightest business students from around the world to develop marketing plans to boost sales and enhance brand loyalty as part of the 21st Annual Marketing Summit at Wake Forest University Schools of Business.
Dean of Business Steve Reinemund welcomed Eric Wiseman, Chairman, President and CEO of VF Corporation, to the kick off the event. Reinemund called Wiseman a “true hero” of Wake Forest, who is an alumnus, parent and member of the Schools of Business Board of Visitors.
“We are really happy to be the case sponsors of the 21st Annual Marketing Summit. When we were presented with the opportunity to be involved this year, two of our brands jumped at the chance to tap into the young, innovative students who participate in this prestigious competition,” said Wiseman. “I have watched this event grow over the years and you are in for a treat.” Wiseman encouraged teams to bring their best efforts forward and to take time to make connections with others throughout the weekend.
Competitors have 36 hours to craft a strategic solution to a complex marketing challenge that will earn the winner of the MBA case competition $75,000 and the coveted Cheerwine Cup.
The MBA case focuses on expanding The North Face brand while maintaining a position of authenticity and remaining relevant to its loyal core customers.
Undergraduate teams will develop strategies to use the digital ecosystem to drive sales and build loyalty for the VF Corporation's Nautica brand. The top undergraduate team will win a $10,000 prize and the newly unveiled BB&T Lighthouse trophy.
Competitors are not the only ones to take home prizes from the Marketing Summit. Cindy Davis, executive vice president of Membership, Marketing and eCommerce at Sam's Club, presented a variety of raffle prizes for student attendees such as a flat screen television, iPad, designer watches and Sam's Club memberships.
“We are so thrilled to be able to help kick of the Wake Forest Marketing Summit and to see the teams tackle a real world business challenge,” said Davis. “We can't wait to see the presentations.”
You can follow the 21st Annual Marketing Summit through Feb. 5 on the website (www.marketingsummitlive.com). It will feature live updates throughout the event including videos and blogs about the teams, guest speakers and competition results. Fans around the world are following the teams online and can vote for the “fan favorite” to win $1,000.
Throughout the three-day event, competing students will be joined by corporate leaders, marketing professionals, higher education officials, alumni and peers in a packed schedule of networking, camaraderie and idea exchange highlighted by the flagship case competitions.
In addition to the Wake Forest University School of Business, other participating MBA programs include: University of Notre Dame, The Ohio State University, London Business School, The University of California-Berkeley, Hong Kong University of Science and Technology, University of Pennsylvania, and Boston College. The following schools will join Wake Forest for the undergraduate competition: Emory University, University of Maryland, Northeastern University, Brigham Young University, and University of Pennsylvania.
Corporate sponsors for this year's event include: VF Corporation, Broyhill Family Foundation, Sam's Club, Walmart, Altria Group, BB&T Corporation, Carolina Beverage Corporation, Fleishman-Hillard, Chick-fil-A, Primo Water and Prima Water Company.
Wake Forest University Schools of Business