'Riding out the tough times'

Effective marketing, sales strategies and beer were on the agenda for first-year MBA students Tuesday at the annual Kelley School of Business MBA Summit. The seminar is designed to expose students to the challenges of the corporate world. Bob Mikulay, vice president of marketing for Miller Brewing Co., kicked off the event with a keynote speech addressing this year's theme, "Riding Out the Tough Times."\nThis focus on real solutions for tough times is apropos for MBA students who might soon find themselves thrust into an unstable economy. For these future corporate leaders, the ability to conceive and implement innovative and effective solutions to tough, often unprecedented problems will mean the difference between sinking and staying afloat, event speakers said.\n"Our current business climate is far more than just an ordinary, garden variety downturn," Mikulay said. "Getting back to the basics, even though it can take some courage and conviction, is the best way to ride out tough times."\nMikulay came to Miller Brewing at a time when the company was struggling to maintain its image and market share and used his "back to the basics" approach to pull the company out of a slump. Lack of consistency in packaging and advertising, broad product range, experimentation with promotional pricing that eroded the "premium beer" image and a weak sales force led to tough times at Miller. Getting back to the basics meant streamlining packaging, boosting image by raising and stabilizing prices, using technology to create "fun" marketing schemes and, as Mikulay said, "putting selling back into the DNA of the entire Miller organization."\n"I think the best advice is to understand what your core values are and to dedicate yourself to acting out those values in work and life," Mikulay said.\nAfter the speech, students participated in breakout sessions in which companies such as Whirlpool, Proctor and Gamble and Eli Lilly presented the students with real problems they faced in the past and challenged students to come up with solutions. The firms concluded by explaining what they really did in the situation.\n"It gives the students some exposure to real-life problems that companies face," said Rimma Khazan, event co-chair.\nSome in attendance came away with a greater understanding of the business world they are preparing to enter. \n"I thought it was informative," said Jevata Crawford, a first-year MBA student. "It provided lots of insight."\nThe summit, which wrapped up with cocktails, dinner and "casino night," provided both an academic supplement and welcome recuperation for the MBA students who just completed their grueling case competition, a project that focuses on problem-solving in the corporate world.