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RIC AMA chapter wins big in Big Easy
A group of 12 students from the RIC Chapter of the American Marketing Association (AMA) won three awards at the AMA’s 32nd Annual Intercollegiate Conference, held from April 8-11 in New Orleans, La.
The organization finished third, behind Bridgewater State and Penn State in the Strategic Allocation of Business Resources (SABRE) Marketing Simulation Competition and also won awards for their website and membership activity.
SABRE is a business simulation program where 25 teams of students from around the country form companies to compete against each other, for profits and market share, which they gain by making decisions about product development, production, advertising and sales. The simulation is a daylong event representing a period of six years.
“[All of the] groups started off with the same product and position in the market in terms of market awareness, perceived product attributes, previous research studies, sales force effectiveness and number of sales force,” explained Bryan Ricard, the AMA’s vice-president of communications.
Each product had several attributes, among them price, size and speed. AMA had to cater to five different target segments in the market by making decisions to alter their product, price, distribution or promotion to meet the different groups’ changing needs over time.
“I am ecstatic that we were able to [be] competitive with some of the top business schools in the nation,” said Ricard.
“The teams contemplated then entered their decisions into the computer program deciding issues like funds to be spent on research, products to be developed and launched, sales force training and number of salespeople, production, inventory, advertising and channels of distribution,” explained Steven Ramocki, RIC professor of marketing and the organization’s faculty advisor.
The organization won third place in the website competition out of more than 100 contestants.
AMA Members received an award for membership activity.
The winning website is located at www.ric-ama.org/forums. The RIC AMA site features information on the organization, membership information, member testimonials, resources for marketing students, and a detailed forum for communication between members.
“It was essential that our organization created an online presence so people could learn about us at their convenience,” said Ricard.
The chapter also presented a creative trade show booth at the conference where students tried to best represent this year’s conference theme, “Tapping into the New Normal.”
The RIC AMA focused on educational value and communication of the conference theme, when they designed their booth.
AMA focused on tapping into creativity as a method for reaching today’s consumers, using examples of successful advertising, guerrilla marketing, and social media campaigns.
The chapter also received special recognition for outstanding membership activity over the course of the school year.
“Our AMA represented RIC very well, gaining significant recognition for a relatively small chapter,” said Ramocki. “Additionally, all 12 students who attended gained valuable insight into the professional marketing demeanor and strategies that are at work in the world of professional marketing.