Junior and seniors in marketing recently had the opportunity to compete in the Stark Tank competition. Juniors presented a conceptual business while seniors competed with their already established businesses. Students thoroughly researched and prepared for their presentation for the chance to win up to $2,000 in scholarship money and a trip to Atlanta to perform in similar, more prestigious competitions.
Students were called into a room with three judges and gave a rehearsed, timed presentation. The presentation lasted four minutes, and students then had four minutes to answer questions. After an intermission, the winners of fourth to first place are decided. Through the experience, students learned to appeal to their teammates’ strengths and build on their weaknesses. Participants learn to improvise and assess problems on the fly.
“Definitely go over your slides… go through it multiple times, know who’s saying what, make sure the slides are ordered smoothly…” stated senior Lily Savcic, a participant in the competition. Competitors researched meticulously in order to be prepared for possible questions that were asked. Participants researched finances, revenue, and profit thoroughly.
“Then we have to research all of our competitive advantages, our competitors… their prices… what makes us different… we had to research what our next steps would be,” added Savcic. Students also reviewed previous questions that were asked in previous competitions to prepare for any possible inquiries they could have faced during their presentation.
The competition is a great learning experience and a fun, interactive experience where students learn real-world skills and lessons.
“My favorite part was just being with the team… going through this experience together and just being there for each other,” reflected Savcic.
