Hello,
I have an interview with occ and one of their previous market size questions was the size of the UK greeting market. i have run through many different variations of how i would answer this, but am not content with any.
Could somene help me do this?
So I can compare, lets assume the following:
UK population: 64 million
Average life span: 80 (800k people per age group)
greeting cards include xmas, brithdays, mothers/farthers day, work thank yous etc...
(edited)
Hey fjrifr,
I think your approach is somehow going into the right direction.
Best
Bruno
Hi there,
To answer this question you need to have few dimensions:
* How many people send greeting cards?
* How many times average sender do so per year?
* What is the average price per card? How many of them are official (original) or shady? How many of them are produced from an internal sources (e.g. by individuals for individuals)?
Additionally, to make you shining, I would also consider:
* Market dynamic (whether this year people sent less cards than in previous years)?
* Cycling - whether there are any market cycles (yes, there are few) :)
* Market interdependencies - which cards segments exist (e.g. cards for a movie, Christmas cards, etc.)
In order to repeatedly demonstrate prerequisite skills under the pressure of a real case interview, you need to learn the basics and practice cases.
1 Q&AMarket Sizing Questions are used to test your quantitative & reasoning skills. Learn more on how interviewers evaluate your given answer!
2 Q&AsAll major firms like McKinsey, BCG and Bain use tests to assess a candidate's analytical skills. However the design of those tests can differ a lot.
It's essential to know some key figures regarding geographies, population, economies for your case interviews. We summarized them for you here.
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