For example look at the "Children vaccine" case. There is some point where I feel difficult to calculate instinctively as a consultant, for example to calculate the potential market sizing and the lifespan age. I would like to know the way I could improving and developing my calculation instinct quickly since most of market sizing case really testing our quantitative ability.
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How to calculate a market sizing case instinctively and quickly?
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Hi there,
Providing some market sizing thinking for anyone revisiting this Q&A:
Remember that there's rarely a "best" answer with market sizing. What's important is that you break down the problem the way it makes sense to you. Importantly, break it down so that the assumptions you make are the ones you're most comfortable in.
For example, do you know all the major brands? Great go with that. Do you understand all the segments of that country's population (either age or wealth or job breakdown)? Go with that. Do you know the total market size of the tourism (or hotel) industry? Then break it down that way.
Some tips:
- Just like in a case, make sure you understand the question - what are you really being asked to calculate
- Decide whether a top-down or bottom-up approach is best
- Figure out what you know you know, and what you know you don't know, but could estimate
- This helps you determine how to split out buckets
- Stay flexible - you can start with a "high-level" market sizing, but gauge your interviewers reaction....if it looks like they want you to do more...then go along level deeper in terms of your splits
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Hi,
As for structuring - I've answered here:
https://www.preplounge.com/en/consulting-forum/how-to-structuring-the-market-sizing-case-2301
For math skills you need to learn:
- Rounding up and down
- Learn how to multiply double digit numbers (https://www.youtube.com/watch?v=6ndkkPZYJHo)
- Learn the division table up to 1/11 (i.e. 5/6 = 83.3)
- Learn how to work with zeros using powers (e.g.: 4000000 = 4*10ˆ6)
Use math tools (Preplounge, Mimir math for iOS to practice)
Best!
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