Students from the Fashion Institute of Technology and 65 other schools are participating in the 2003 L’Oréal Marketing Award, a competition that provides college students with real-world experience as product managers. Students develop and complete marketing plans to launch a new line of products. This year it is for L’Oréal’s Garnier brand. One team from each of the 15 countries will be selected to compete in the finals this spring in Paris. The grand-prize winners will receive $15,870 and a trip to one of three cities.