Suppose you start by segmenting population into age groups and then into frequency of consumption of the product, and realize half way through the age calculation that you could have skipped that step and gone straight into frequency..is it ok to ask the interviewer if you can revise your approach? Or would you lose points for doing that?
Hi there,
It is quite rare that the age groups are irrelevant (unless you are segmenting by households). Normally the percentage of people that can/want to buy a product is influenced by that.
In any case, if you find that your approach is not applicable anymore or that you can simplify it, you can definitely propose to the interviewer the simpler approach and that will be fine.
Best,
Francesco
Hey there,
Changing your approach
It is always possible to refine / change your approach in math questions, regardless if they are market sizing or something else. In fact, it is better if you spot an error or a better way than being told the same by the interviewer.
Of course, it is better to come with the best approach right from the start. However, it's still ok to correct your own mistakes as you go along.
Segmentation based on age
Regarding segmentation based on age groups: This is not always needed and there are other proxies that allow you to be quicker depending on the actual case question. I would not over-segment or complicate things here.
Cheers,
Florian
Totally fine to refine approach. Its a good thing that you are able to spot holes in your approach/framework and are quick to adjust it. Be bold and be fearless on this!
Obviously the focus should be to "get it right first time", so allow yourself an extra 30 seconds to review your approach/framework before you engage the interviewer in a dialogue.
Hi there,
Obviously try to have the right approach the first time (as in, give yourself 30 seconds beforehand to think through it).
However, if you do realize this halfway through, absolutely you need to revise your approach. The way in which you do this is key. Flag to them you've realized x and as a result you'd like to change y. Make sure you articulate your thinking clearly, and do so calmly and confidently.
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