Quincy University’s Collegiate Entrepreneurs’ Organization (CEO) Club placed first among four teams in a marketplace simulation where they built a 3D printed bike business from the ground up. Along with the $500 first-place award, individual members of the team were recognized. Supreme Market Master certificates were given to Connor Pigg, president; Ryan Adams, vice president; and Gwen Swierk. Other participants were Jacob Flynn, Dominique Gatewood, Sydney Gorman, William Kaiser, Mary Maloney and Carolyn Trueblood.
The purpose of the simulation is to help students internalize many of the business concepts and principles they have learned in the classroom. Over six quarters, the team focused on designing, pricing and marketing three different types of bikes (speed, recreational and mountain) while opening stores in four different parts of the world (Amsterdam, Bangalore, Rio de Janeiro and New York). Each type of bike and location had specific customer wants and needs that the team based their business around. They analyzed the market, utilized data to make strategic marketing decisions and refined their strategy to ensure their virtual company successfully advanced through its early business cycle. Overall, the team made six different bikes, opened four stores and made a net profit of $9.9 million.
The online simulation competition between the undergraduate CEO collegiate chapters began on March 4 and ended March 24. Because of the extension of Spring Break and the “shelter in place” order, the team met online via Google Meet on Wednesdays during regular club time and additionally on Sundays to get through the quarters.
Founded in 1860 by Franciscan friars, Quincy University (www.quincy.edu) is celebrating 160 years as a Catholic, co-educational, liberal arts, residential university. Quincy University offers undergraduate, graduate, and adult education programs that integrate liberal arts, active learning, practical experience, and Franciscan values. Faculty and advisors work with each student to design a customized success plan to help them graduate on time, find their passion and prepare them for life. Quincy University’s intercollegiate sports are members of the NCAA Division II Great Lakes Valley Conference for men and women. For more information, please contact the Quincy University Office of Community Relations by calling (217) 228-5275. Quincy University. Success by Design.