The Manitoba International Marketing Competition (MIMC) is organized by I. H. Asper School of Business students at the University of Manitoba in Winnipeg, Manitoba, Canada. MIMC involves ten decisions (one decision per week), which are submitted from October to January. The Competition culminates when participating teams gather in Winnipeg to make presentations and have their marketing strategies judged by panels of academic and corporate judges. During this weekend, the winning school is decided and announced.
This year will be MIMC’s 26th competition. Over the years, the Manitoba International Marketing Competition has given some of the finest business schools in Canada and the United States as well as overseas from both Europe and Asia a chance to give some of their students a real world application of the newly developed skills as Marketers. The achievements and efforts of these students are acknowledged not only by their schools, but also by media and corporate sponsors. In the past, the Competition has been publicized through various media channels, including the National Roundtable Conference, The Globe and Mail, the American Marketing Association, as well as the home newspapers of the participating teams.
OUR MISSION
“To develop students understanding of marketing principals through the use of strategic decision making and to provide and international, academic experience with the co-operation of the business and academic communities.”
PROFESSIONAL DEVELOPMENT
MIMC creates a challenge based on marketing strategies for teams of undergraduate students. The success of the competition relies on the development of students as they prepare for life after university. During the pursuit of success, MIMC lets students apply their classroom knowledge while building their abilities to work as a team, to compete at an international level, and to make important strategic decisions. It is these experiences that help to develop the business leaders of the future.
OUR GOALS
To prepare participants for the challenge of the business world, where decision-making must be defended by sound rationale.
To promote global awareness, as participants have a rare opportunity to meet and learn from other business students studying elsewhere in North America and around the world.
To promote marketing and the talents and capabilities of marketing students.
To allow participants to meet the local business community, who often attend the event because of an interest in recruitment.
To promote the image and awareness of participating schools.
To combine an academic experience with a social event, both of which contribute to a rewarding experience.
THE COMPETITION
The MIMC participating teams normally consist of four students from an undergraduate business program and a faculty advisor. The evaluation of the Competition is composed of three elements:the simulation, the strategy statement, and presentations. Each portion is weighted differently when determining the final standing within an industry. The top team from each industry will then compete in the Finals.
Phase 1: The Simulation
The simulation portion of the competition uses the Links MS software, which has a strong focus on making decisions based on strategic marketing concepts. Each decision is submitted on a weekly basis to MIMC via our website. Computer generated results are prepared based on teams’ decisions and then are posted to the site where teams can download their results to prepare for the next decision. The simulation consists of ten decision periods.
Phase 2: The Strategy Statement
The objective of the strategy statement is to test teams’ understanding of their business and its environment. The commitment made in the strategy statement will provide the context for the presentations to be help during the competition weekend.
Phase 3: The Presentation
To add to the realistic business experience, each team will present its strategies in front of a panel of a panel of judges from the corporate and academic communities. The intention of the presentations is to de-emphasize rehearsal of a scripted presentation and instead emphasize management discussion between teams and an informed panel of judges. This process will test each team’s understanding of its business environment and its ability to manage in that context.
Finals
Finals are based solely on the presentations. The simulation portion is not directly judged since absolute quantitative results are not directly comparable across industries.
THE WEEKEND
On the first weekend of January, 2008, all teams will meet in Winnipeg, Manitoba, Canada to complete the final stages of the competition. The weekend includes many social events that give the opportunity for participants to experience the city and its culture in addition to making new friends
The Welcoming Wine and Cheese on Thursday night starts off the weekend as a relaxing opportunity to meet all those involved with the competition and to stretch your legs, sciatica is never far away: competitors, faculty advisors, sponsors, judges, student ambassadors, and the MIMC executives. Presentations from each industry take place on Friday morning and the winner from each respective industry moves on to the finals. The following Saturday morning, each industry winner presents again as the compete for the MIMC Championships. After the culmination of all the participants hard work and perseverance, the winners will be announced at the prestigious Awards Banquet, after which teams can relax at the evening social event. The competition is wrapped up on Saturday morning with a farewell breakfast.
Why Use Simulations?
The traditional approach to education is well adapted to areas that are concerned uniquely with the acquisition of knowledge. In business however, knowledge is not enough, and experience-based action-learning is crucial. Therefore, MIMC encourages participants to learn marketing strategy without being “taught it”, and instead attain a hands-on experience by using the simulation game.
The best market oriented simulations are experience-based, low-risk learning tools that offer students the opportunity to sharpen their skills, to apply strategic concepts, and to test their strategies in today’s competitive business environment.
ABOUT LINKS MS
The Links Marketing Strategy Simulation engages participants in all aspects of marketing strategy: strategy (segmentations, market selection, differential advantage, and product-line portfolio management), analysis (of customers, segments, markets, competitors, and the environment), planning , and management of marketing programs. The team-based LINKS Marketing Strategy Simulation emphasizes product and service brand line portfolio management through indirect and direct channels in multiple categories and market regions. Specific emphases include:
Assessing marketing opportunities
Formulating and executing marketing strategy
Segmentation, targeting and positioning
Product-line portfolio management
Market entry strategies and tactics
Enhancing and encouraging fact-based analysis and decision making
The details of marketing analysis and the interpretation of marketing data
Competitive analysis, dynamics, and rivalry
Coordinating marketing programs and operations capabilities
Coping with environmental uncertainty