A consulting firm wants to understand which new markets and industries they should target by 2021
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can someone help me structuring it. It look bit broad
Overview of answers
Hi,
If you are thrown this kind of one liner question, I think first you need to ask a bunch of clarifying questions to understand more of the context and the objectives. Don't just jump in to structure without knowing more of the problem to be solved.
- Which firm, which region/country
- What are the markets and industries applicable in the region/country, what does the firm already have
- What is the objective of firm by 2021, key priorities e.g. market share vs profitability
Afterwards you can start structuring.
Best,
Emily
Hi Abhilash, in addition to the solutions proposed by the other coaches in the discussion, I would like to suggest similar cases in the platform to practice with:
- https://www.preplounge.com/en/consulting-forum/how-much-would-you-charge-to-clean-all-the-windows-in-seattle-4965
- https://www.preplounge.com/en/consulting-forum/market-sizing-milk-consumption-5087
- https://www.preplounge.com/en/consulting-forum/how-would-you-calculate-the-value-of-a-cow-4982
- https://www.preplounge.com/en/consulting-forum/estimate-number-of-traffic-lights-in-a-london-5692
Hope it helps,
Antonello
Hi Abhilash,
No matter what, when starting a case, you need to know 1) Context and 2) Objective
If you don't understand who we're working for and why, you can't even begin to structure.
This is because a framework's entire purpose is the solve the a problem. If I don't understand I'm trying to get the 3rd line in a triangle, how can I come up with a^2 + b^2 = c^2?
Hello!
For which client?
With which KPIs in mind?
That info is insufficent.
Cheers,
Clara
Hi,
I will go for a very very simple approach considering low information provided !
1) Analyze current footprint : industries / market covered, internal experts or networks, sales ...
2) Analyze future opportunities : investigate current market shares for industries / market covered, barriers and competitors for industries / market not covered and related capabilities existing or required.
Hope it helps
David
(edited)
Hi,
It's impossible to answer your question without knowing a specific numerical objective and the context. You should not approach cases in such a broad way
Best
Dear Abhilash,
I would happy to help you, but this information you give looks insufficient for proper answer.
Best,
André