How to solve these market sizing quantitative question?

There are many similar questions with useful answers on preplounge already, like below:

• https://www.preplounge.com/en/consulting-forum/how-would-you-go-about-calculating-how-many-solar-panels-are-used-in-a-country-9320
• https://www.preplounge.com/en/consulting-forum/how-would-you-estimate-the-market-size-for-vegan-shampoos-in-the-uk-9150
• https://www.preplounge.com/en/consulting-forum/b2b-market-sizing-no-b2c-8982
• https://www.preplounge.com/en/consulting-forum/how-to-market-size-the-opportunity-for-stripe-9290
• https://www.preplounge.com/en/consulting-forum/how-many-wealthy-people-are-in-the-uk-8819

Fundamentally the structure and approach will be equivalent in all these cases and in the example you have stated above.

Looks like one way to solve it with one specific idea of segmenting the population in the stadium. Important for you to force yourself to think about other possible segmentations (e.g. first a layer of country A and country B participants perhaps with different preferences for beer). The approach is the important part, not really the precise numbers.

Also important, whatever number you get, please sense-check it. Make sure to just be able to tell the interviewer why your number could too high or too low. This can be done by stress-testing your numerous assumptions or by quickly testing an entire different approach (in this case you used a bottom-up population-based approach, however there are always supply-based (top-down) approaches too, such as estimating how many beer stations there are in the stadium). You could for example try to calculate how much money now is made with your beer or what volume we are talking about in terms of barrels or truck loads. If youre numbers reveal you earn a high double-digit MILLION USD in beer revenues for a regular game, i.e. XX USD per visitor, you know you are likely too high for instance).

Most important - as any case interview, market estimations require you to have a DISCUSSION with the interviewer (on your approach, variables / assumptions, your math, your result, and the sense-check, potential next steps to improve the quality of the result). Do not just pick one approach and engange in a 20 minute monologue.

This does make sense, just one comment:

In the last bullet you write 1 pint = 0.3L - this is something you will want to specify with the interviewer. A US pint (assuming you're looking at US given the use of the word "Soccer") is closer to 0.5L that to 0.3L; UK pints are even larger.

So this one factor has the potential to double your results - which is a significant difference in this context. 

Hi there,

This is a good approach in terms of structure/breakdown.

The only point where you've "failed" a bit is in your "reasoning/judgements" category. 10-20 year olds cannot drink, let alone are they big drinkers!

18 is the minimum age to drink in Europe for example, so only 1/5 of your category here could even drink! Furthermore, they don't have much money, so, if they do drink, it will all be before the game (and with bottles snuck in)!

Hey A!

Your approach is a good one. But be sure to include some measurement errors to estimate exceptional cases and show that you consider the case from all points of view. That will help you to earn some extra points. 

Sounds good?

GB

Your approach makes sense. Account for legal age of drinking and religious beliefs if applicable and similarly account for other competing beverages. Other than that the trick with these is to not make it complicated.

Udayan

Your approach to solving the market sizing question is quite structured and logical. You've broken down the problem into manageable steps, starting with estimating the total number of attendants and then segmenting them by generation. Segmenting further into different consumption categories and adjusting for each generation’s drinking habits is a smart way to refine your estimate.
 

Hello!

I think it makes a lot of sense, congrats :) Well articulated

Perhaps one thing that I would say to win extra points would be to include the beer of the poeple who will watch this broadcasted (e.g., bars, their own homes...) Or at least mentioning it to the interviewer, so they know you are on top of multiple workstreams

Hope it helps!

Cheers, 

Clara