19 November 2014
The Business Ecosystems Research Group and Queen Mary Racing (QMR) continue their collaboration. QMR was established two years ago as the university’s only motorsport racing team. The team is made up of about 40 selected students: 30 who have made the cut as engineers, and 10 in the management and marketing area. The marketing and management teams of QMR are ramping up, and will only be growing in the coming months.
QMR will be competing in Formula Student, Europe’s most prestigious international motorsport engineering competition, which is held each year at SilverStone Raceway. As a snapshot, Formula Student attracts more than 7,000 students and visitors each year; in 2014, there were more than 114 teams from all around the world. Some well-known supporters include Ross Brawn, Mercedes Formula One, Jaguar, Land Rover, Shell, and many more.
The competition is not just for engineers and car enthusiasts, however. A main component of the competition includes marketing and business presentations. To provide guidance and mentoring input, one of the key success factors for QMR, BERG at the School of Business and Management is regularly meeting with the students to discuss progress. Prof. Stephan Henneberg, Dr. Sebastian Forkmann, and Dr. Panos Panagiotopoulos have already provided feedback on drafts of marketing plans, and are facilitating pitch discussions with potential sponsoring companies.
Sponsorships are an important factor that will enable QMR to compete in Formula Student in the 2016 season. This task will be left to QMR’s marketing department, made up of four MSc in Marketing students, which will be growing this spring. An initial sponsoring pitch has already been presented to a potential sponsor (a multinational company). As Master’s students, the team members have done countless presentations, but never on this scale. Being part of QMR, plus having the support of BERG academics from the School of Business and Management gives the students an opportunity to compete in a real-world business environment with real stakes, all while they study for their degrees.
To get involved in this exciting venture, email: email@example.com