Market Sizing

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  • Topic: Marketing, Case interview, Marketing management
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DRAFT

MARKETING CASE INTERVIEWS

1. Frameworks
2. Market –sizing
3. New Product Launch
4. Competitive Defense
5. Key Measures
6. Advertising
7. Interview Questions

CaseQuestions.com
CQInteractive.com
Frameworks

Case questions have been popping up in marketing interviews for years. While there are many similarities between a consulting case interview and a case given in a marketing interview there are differences as well.

I always tell the consulting students to stay away from “cookie-cutter” frameworks like the 5Ps and 5Cs, but in marketing interviews you are encouraged to employ them.

To truly standout from your peers, it is best to incorporate the 5Ps into the overall structure and then to fill in your answer with concepts from the Ivy Case Method™ found in Case in Point. You’ll find that out of the 12 Ivy Case scenarios you’ll most often use (i) entering a new market, (ii) developing a new product, (iii) pricing, and (iv) growth strategies.

In marketing interviews as in consulting interviews the 5Ps are: Price, Product, Promotion, Placement and Packaging. The 5Cs, however; differ. In a consulting interview the 5 Cs are Cost, Competition, Channels, Company and Client while in marketing interviews the 5 Cs are Category, Company, Competitor, Consumer and Customer.

On the following pages I have laid out some working structures for you to review. Keep in mind that these might vary depending on if the case is about a product or a service and what industry it belongs.

MARKET-SIZING QUESTIONS
Your answer should be based on logic and assumptions.

Structure
o Listen to the question, and then determine the type of case; population-based, household, individual or preposterous. o Ask clarifying questions, only if you don’t understand the question or terminology. o Lay out your structure first, the steps you’ll need to answer the question, and then go back through it with the numbers.

Assumptions
o Don’t worry if your assumptions are off, the interviewer is more interested in your thought process than whether your assumptions are correct. If your assumptions are way off they will tell you, otherwise they’ll let it go. o Base your assumptions on some sort of logic otherwise the interviewer might press you on how you drew that conclusion. o You can group several assumptions into one number (i.e. The 20% takes into account X, Y, and Z.)

Math
o Estimate or round numbers off to make it easier for calculation. o Write all numbers down.

NEW PRODUCT LAUNCH

1. Customer needs
• Do customers want or need this product?
• Benefits to the consumer

2. Segmenting the market
• Market-sizing – how big is the market?
o Market growth rate (past, present and future forecast) • Competition and substitutions
o Who are the competitors and what is their market share? o How do their products and services differ from ours? o Will they launch a competitive response?
• Determine strategic opening
o Entering the market
▪ Start from scratch, buy your way in, or strategic alliance o Barriers to entry
▪ Government regulations, access to distribution channels, access to capital, access to raw materials

3. Choose target
• ID heavy users
o Why would they be interested in this product?

4. Positioning
• Differentiate – how different is it from the competition?

5. 4Ps
• Product – Why is it good, what’s our niche? How is it packaged? • Price – competitive analysis; cost-based pricing; price-based costing (what is the customer willing to pay for it) • Place – distribution channels

• Promotion – how best to...
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