DPS has tapped a pair of the university's MBA students to serve as brand consultants for Yoo-hoo and bring a fresh, innovative approach to marketing the beloved chocolate drink. The team will develop a strategic growth plan for the brand and present it to DPS this month, with the potential for implementation in the fall.
The students and DPS are the first participants in the McCombs Brand Experience, an experiential learning initiative launched this year by the
To make the experience as true-to-life as possible, the center created MBA Brands, a limited liability company, or LLC. DPS will use the student team through the company on a consultant basis. "The LLC structure allows for much more of a real-life experience. It's a breakthrough in marketing education," said
"This pilot will eventually lead to opportunities for many other students to participate in the future, for DPS and other companies," Johnson added. "Cream-of-the-crop students will receive experiential training and a great opportunity, and the program will strengthen relationships between
"We are excited to be working with the
Yoo-hoo is one of the leading chocolate drinks in the U.S. It was created in the 1920s by
The brand went through several ownership changes leading up to its 2002 acquisition by Cadbury Schweppes, which spun off its entire North American beverage business into
The Yoo-hoo student team will experience a hands-on approach to managing a consumer packaged goods brand. To develop a financially sound growth plan, the students will need to analyze existing data, identify data needs and also learn to work with less than 100 percent of the desired data. They'll learn to respond to the real-time market and how to deal with people issues and constraints.
If all goes as planned, a new team of McCombs MBA students from the class of 2014 will take over Yoo-hoo or another DPS brand in
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