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Expert with best answer

Florian

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4

Estimating revenue based on martial status

I have difficulty in my previous interview. Would be great if anyone can helps

Population in city = 5 M

Ppl with age < 35 single has 80% chance to sign for product

Ppl with age >35 single has 40% chance to sign for product

Married couple has 25% chance to sign for products

Older generation is not interested.

How many products can we sell?

I have difficulty in my previous interview. Would be great if anyone can helps

Population in city = 5 M

Ppl with age < 35 single has 80% chance to sign for product

Ppl with age >35 single has 40% chance to sign for product

Married couple has 25% chance to sign for products

Older generation is not interested.

How many products can we sell?

4 answers

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Best Answer
Book a coaching with Florian

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Hi RUSDI,

are all the information above provided or based on your assumptions?

If the information you shared is given, then you need to make assumptions on how you can break down the 5M population into the respective segments in order to identify the number of customers and then multiply it by the average number of products sold per customer.

Basically you need to determine:

1. Which share of the population is < 35 yrs old and single?

2. Which share of the population >35 yrs old and single?

3. Which share of the population is married?

4. What is the average number of products sold per customer?

The rest is simple math.

I hope this helps. Please let me know if you need further help with market sizing cases.

Best,

Florian

Hi RUSDI,

are all the information above provided or based on your assumptions?

If the information you shared is given, then you need to make assumptions on how you can break down the 5M population into the respective segments in order to identify the number of customers and then multiply it by the average number of products sold per customer.

Basically you need to determine:

1. Which share of the population is < 35 yrs old and single?

2. Which share of the population >35 yrs old and single?

3. Which share of the population is married?

4. What is the average number of products sold per customer?

The rest is simple math.

I hope this helps. Please let me know if you need further help with market sizing cases.

Best,

Florian

Thanks again for the response. I make assumption that only people with age 15-55 are relevant. Then, make assumption only 50% of people is married since it is developed country (aging population). Finally, I draw venn chart to distribute the number. I am not sure if I can approach this way — RUSDI on Apr 07, 2021

Hi Rusdi, if marital status is a meaningful segmentation for the specific case, then I think your approach works well. Without knowing what this case is about, it is a bit hard to tell, whether this is generally the right approach. — Florian on Apr 07, 2021

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Hi Rusdi,

Sorry, but this doesn't make sense. "Revenue based on Martial status" means nothing.

Could you clarify what exactly we are trying to measure the revenue of?

Hi Rusdi,

Sorry, but this doesn't make sense. "Revenue based on Martial status" means nothing.

Could you clarify what exactly we are trying to measure the revenue of?

We are trying to measure market size of people who sign for new accounts in digital bank — RUSDI on Apr 08, 2021

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Hello Rusdi!

I feel we are missing a part of the prompt here, which product are we trying to sell?

Cheers,

Clara

Hello Rusdi!

I feel we are missing a part of the prompt here, which product are we trying to sell?

Cheers,

Clara

Banking products (saving accounts, etc). It is about the decision whether to enter digital bank or not — RUSDI 11 hours ago

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