How to get away from the classical frameworks even if their accuracy is tempting

The 4P Framework – consisting of Product, Price, Place, and Promotion – is one of the fundamental marketing strategies that helps companies successfully position their products or services in the market, a classic task often encountered in case interviews. It provides a structured approach to consider all critical aspects of a product or service and ensure they are optimally aligned with customer needs.💡 By the way: In our Case Interview Basics, you can find all the essential frameworks you need for case interview preparation. Check it out! The 4P Framework in Case InterviewsThe 4P Framework is especially useful in case interviews for analyzing marketing and sales cases. It offers a structured approach to evaluate all relevant aspects of a product and develop the best strategy. It is typically used in market entry, product development, or growth cases and helps systematically identify and solve problems, whether it's introducing new products or optimizing existing ones. The 4Ps in DetailProductThe product describes what exactly is being offered to the customer. It includes physical features, quality, design, packaging, as well as accompanying services and warranties. In a case interview, you should consider how the product meets customer needs and what differentiates it from competitors.PricePrice determines how much customers are willing to pay for the product. There are various pricing strategies such as cost-based, competition-based, or value-based pricing. In a case, you should analyze which pricing strategy the company should pursue to maximize profits while meeting market demands.PlacePlace refers to the distribution of the product, i.e., how it reaches customers. This includes the choice of distribution channels, transportation, and storage. In a case, it's important to examine whether the product is accessible to the target audience and if the distribution channel can be optimized.PromotionPromotion includes all activities taken to make the product known and persuade the target audience to buy it. This can involve advertising, sales promotions, public relations, and social media. In a case interview, it's helpful to think about how the company can effectively communicate to boost sales. Case Example: Fiber Optic Expansion (Telecom Strategy Consulting Case)Imagine you are a strategic project manager at Deutsche Telekom responsible for expanding fiber optic networks in a medium-sized city. Applying the 4P Framework in this context would look like this:Product: High-bandwidth fiber optic internet access with reliable connectivity.Price: Consider pricing strategies to reach both households and businesses.Place: Plan infrastructure for efficient distribution throughout the city.Promotion: Develop a communication strategy to highlight the benefits of the new offering and attract customers.

Design Thinking is more than just an approach or a method – it's a non-linear, iterative process that places creativity and problem-solving at its core. To understand this mindset, let's look at the three essential elements of Design Thinking: People, Process, and Place. These elements form the foundation for applying Design Thinking in business consulting.The Evolution of Design ThinkingOriginally emerging in the creative environments of design studios, Design Thinking began to establish itself as an approach to creative problem-solving in the 1960s and 1970s. Rolf Faste, a professor at Stanford University, coined the term "Design Thinking" in the 1980s. Evolving from a purely design-focused approach, Design Thinking has become an interdisciplinary method that extends far beyond the boundaries of traditional design. Companies and organizations have recognized that this mindset is applicable not only to product development but also to complex systems, services, business models and social innovations.The Three Elements of Design Thinking1) People: The key roles of individualsDesign Thinking focuses on people, their needs, and perspectives. People are at the center of the development process, whether it's designing products, services, or corporate strategies.2) Process: Six iterative steps Empathize: Understand users by observing and interacting with them to grasp their thoughts and feelings.Define: Analyze gathered information to identify user problems and recognize opportunities for innovation.Ideate: Generate creative ideas, encouraging quantity over quality, to address unmet user needs.Prototype: Build tangible representations of selected ideas to evaluate their feasibility and impact.Test: Collect feedback from users to assess whether the proposed solutions meet their needs and improve their experiences.Implement: Execute the chosen solution, emphasizing that the success of design thinking relies on translating ideas into tangible outcomes that positively impact users' lives.3) Place: The space for creativityThe physical and social space where Design Thinking takes place also plays a crucial role. Open and collaborative spaces encourage the exchange of ideas and facilitate effective collaboration. Special workshops or Design Thinking labs can create a space that fosters creativity and innovation.Key Insights into Design ThinkingDesign Thinking is a powerful mindset that has successfully established itself in various areas. Emphasizing People, Process, and Place allows for the development of creative solutions that not only are functional but also place the needs of people at the forefront. The iterative application of the six steps provides a structured path from defining the problem to thoughtful prototypes and ultimately to innovative solutions.