eDC has a new event being launched : Tipping Plan - a marketing plan competition
In January 2007, apart from being a hub for scientists and engineers, IIT-Delhi ventured into the arena of producing a new kind of skilled professionals, the country of India highly needed- entrepreneurs. Made possible by the dedicated efforts of the Entrepreneurship Development Cell (eDc) - its trainees and directors, it has suddenly become possible to build an exhaustive resource pool to aid potential entrepreneurs. The vision to promote entrepreneurship amongst the students of IIT is succeeding, and eDc has decided to move another step ahead as it launches the ‘Tipping Plan’ Competition.
The competition taps the principle of adequate timing, promoting and price in the successful selling of a product, in the absence of either of which a product fails to get its maximum potential. A good product and bad marketing can be summed up as failed ideas. Entrepreneurship Development Cell values the ideas of students and has therefore planned to materialize the understanding of this concept with its ‘Tipping Plan’ competition serving as a lure for a large number of institutions from all over Delhi and NCR region.
The procedure is simple, yet ingenious. Participants shall be subjected to a case study of a real time business simulation and with the aid of their resourcefulness; they must come out with a feasible and an ample marketing strategy, so as to yield the best possible results. It shall help in sharpening the marketing, analytical and presentation skills of the competitors, so as to assure a successful future for them. Assessment is based on feasibility, its comprehensive nature and the plan of action.
The registration for the competition opened on 21st and goes by simple rules. A team event with maximum 3 members per team and no more than 1 team per person is allowed. Being open to all colleges from Delhi and NCR, it is expected to have a good turnout, and all possible bias has been already omitted with the barring of eDc team Directors to participate in the competition. The competition will take place in 2 phases: Submission of Marketing Plan, for which 5th October serves as a deadline. From here 6 lucky teams will make it to the next phase, which will be announced by 21st October. In this phase, all these short-listed teams are supposed to give a panel presentation in front of a distinguished panel of judges for the final evaluation.
Incentives lie in the form of huge monetary awards for the contestants, apart from the glorious chance to deliver their proposal to the company, which was the subject of the case study, and if credible- watch it get implemented.