Concept
brandNEW!
is a competition that leverages students’ unique multi-disciplinary
knowledge bases in a world-class university by motivating them, encouraging
productive creativity, and focusing them on a common real-world product
development problem. Specifically, during the brand creation competition,
teams of students with fresh, multi-disciplinary perspectives develop
a new product concept for a sponsoring company. These cross-functional
teams will be led by three students from the marketing MBA program and
will consist of the brightest students from mechanical engineering, environmental
engineering, and other applied engineering programs.
These teams will work as a group for tewn weeks to develop a new product
concept, strategic briefing papers and sales forecasts, engineering schematics
and prototypes, and a persuasive presentation that will be delivered to
a panel of industry executives.
The
Students
The participating
disciplines on the MSU Campus include programs from the Marketing Department,
Mechanical Engineering, Environmental Engineering and other related disciplines.
Few universities in the world can offer such a list of nationally-recognized
disciplines on one campus. Faculty champions from each of the areas will
guide their students to this competition. Students will decide for themselves
what disciplines to have on their teams, but the choices include the following:
- The Marketing
students are enrolled in the full time MBA program of The Eli
Broad Graduate School of Management and will take the lead role in designing
the marketing and positioning strategy for each team and will serve
as the project managers for the team. These students are expected to
identify consumer needs, translate these benefits into product features,
develop a solid business strategy, forecast sales for the product, and
establish a migration path.
- Engineering
students will be tasked with working with the business students
to translate consumer needs in to the product design and will serve
as the "voice of reason" when making tradeoffs between consumer
needs and engineering realitiies. By integrating perspectives from environmental
and mechanical engineerin, the teams will have the benefit of leading
edge appraoches from both fields.
Benefits
for Students
Students participating
in the competition will experience a series of benefits.
- Interview
Access
- Students
will have the opportunity to compete for reserved interview spots
within Whirlpool's Brand and Engineering Leadership Development
Programs.
-
“Real” Experience to Enhance your Resume
- Students
will execute a project for a sponsoring company where they have
to work in a cross-functional team and develop deliverables under
intense time pressure.
- Showcase
your Skills During Recruiting Season
- This
competition provides a rare opportunity to showcase your skills
to a team of students from other disciplines and ultimately to a
panel of industry executives during recruiting season.
- Win
Cash Prizes and Other Rewards
- Teams
in the competition will be competing for a number of prizes:
- Overall
Winner: $1,000
- Runner-Up:
$500
- Additional
Non-Monetary Awards will be Awarded:
- Most
Creative Product Concept
- Best
Prototype / Product Illustration
- Best
Marketing Strategy
- Best
Engineering Strategy
Competition
Process and Schedule
- 8/17/2009–
9/15/2009: Competition Registration
- Interested
students are be invited to register
for the competition.
- 9/2/2009–
9/15/2009: Class and Student Group Presentations
- If
members of your student group would like more information, please
email Prof. Voorhees (voorhees@bus.msu.edu) and he would be happy
to make a presentation to your student organization about the competition
and answer any questions.
- 9/2/2009–
9/15/2009: Candidate Screening and Team Formation
- All
registered students will be able to review and screen prospective
team members’ resumes from a secure Angel site.
- 9/15/2009
(5:30 - 7:30 PM): Kick-Off Reception and Team Formation (Room
118 Eppley Center)
- Whirpool:
Representatives from Whirlpool provide students with the
case and backdrop for the competition
- Food:
Pizza
will be provided for all attendees
- Team
Building Workshop: Practice event to hone the students’
creativity skills and to practice functioning as a team under an
intense deadline.
- 9/15/2009:
COMPETITION BEGINS!
- Students
are provided the competition case following the Kick-Off Meeting.
- 10/8/2009
(8:00 AM) – Mid-Point Deliverables are Due
- 10/13/2009
(3:00 PM - 5:00 PM) – Mid-Point Presentations
- 10/14/2009–
Leaderhsip Develop Program Interviews
- 11/11/2009
(5:00 PM) – Final Deliverables are Due
- 11/20/2009
(8:00 AM– 7:00 PM) – brandNEW! Competition Presentations
@ Whirlpool
- 8:00
– 10:00 AM: Travel to Whirlpool
- 10:00
– Noon: Tour of CDP Facilities
- 12:00
– 1:30: Lunch and Team Meetings
- 1:30
– 4:00: Final Presentations
- 4:00
– 4:30: Announcement of Award Winners
- 4:30
– 5:00: Announcement of Award Winners
Details
on the Deliverables
The competition
will be judged primarily on the merit of your concept, but this concept
must also be articulated well through a (1) briefing paper, (2) presentation,
and (3) related supplements.
Here are
the details on each deliverable:
Mid-Point
Deliverables
- Briefing
Paper on the Product Concept:
- 3
page briefing paper that introduces and justifies your new product
concept. As a guide, this paper should include the following information:
- Preliminary
Marketing Plan
- Product
name, pricing, description of the product concept and how
this product fits with its selected brand
-
Description of the Target Market
-
Unmet consumer needs being met by this new product concept
-
Competitive Assessment
-
Point(s) of differentiation
-
Market Entry Strategy
-
Engineering Plan
-
Overview of the development plan
-
Anticipated engineering challenges and strategies for overcoming
them
-
1-Page Figure: Product Illustration / Demonstration
-
You must provide a preliminary illustration of your product
concept. Your team can decide the level of detail, but the
goal of the illustration(s) is to demonstrate how the product
works from an end-user perspective and to provide the audience
with some understanding of how the product would become
part of a consumer’s daily routine.
- 5
Minute Presentation
- 5
Minute Presentation
- 5
Minutes of Q & A
Final
Deliverables
- Briefing
Paper on the Product Concept:
-
10 page briefing
paper that introduces and justifies your new product concept. As a guide,
this paper should include the following information:
- Final
Marketing Plan (6 pages)
- Product
Overview
-
Product name, pricing, description of the product concept
and how this product fits with its selected brand
-
Discussion of Market Opportunity
-
Description of the Target Market
-
Unmet consumer needs being met by this new product concept
- Competitive
Assessment
-
Point(s) of differentiation
-
Market Entry Strategy
- Market
Entry Strategy
- Discussion
of Potential Partners or Alliances
- Preliminary
New Product Sales Forecast
- Market
Growth Strateg
- Engineering
Plan (4 pages)
- Overview
of the Design Process
- Design
Specification and Objectives
- Discussion
of design plan, including topics such as value analysis,
FAST diagrams, Feature -Function - Benefit linkage
- Final
Design Implementation
- Basic
Technical Design
- Basic
Process Flow Design
- Supporting
Figures
- Product
Schematics / Illustrations
- Process
Flow Diagram
- Product
Illustration / Demonstration / Prototype
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