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in theory, one should take some time to structure a market sizing question before approaching it. However, in several interviews now I was given a market sizing question without giving time to structure it. When I said that I would structure the question my interviewer just replied that I just should start and take him through that process.
Is that considered normal in an interview?
Hey,
in theory, one should take some time to structure a market sizing question before approaching it. However, in several interviews now I was given a market sizing question without giving time to structure it. When I said that I would structure the question my interviewer just replied that I just should start and take him through that process.
Firstly, I'd like to point out that your instinct is 100% correct - always take to the time to gather your thoughts and never assume that you are supposed to answer straight away. I have a friend who was unsuccessful in his final round interview because he thought the interviewer wanted him to answer straight away and then was given feedback that he was unstructured. This sort of situation is much more common than what you describe, in my experience.
That being said, I agree that there's an extra challenge here to guide the interviewer through your thinking as you are doing it. The interviewer knows this, they know you are thinking out loud, so of course they are not expecting the same answer as if you were reading your notes off a page, so it's okay if it's a little messier.
My main advice here is: After you finish, restate everything quickly in a more organized fashion. I find that interviewees don't do this often, but it's an easy way to make all your answers better and you can do it at almost any part of the interview, including behavioral to improve your answers. There's no rule that you only get one chance to say something and this is a good technique to improve your performance.
Hope this helps, happy to provide more details through the chat.
Best,
Allen
Hello,
Interesting question!
Firstly, I'd like to point out that your instinct is 100% correct - always take to the time to gather your thoughts and never assume that you are supposed to answer straight away. I have a friend who was unsuccessful in his final round interview because he thought the interviewer wanted him to answer straight away and then was given feedback that he was unstructured. This sort of situation is much more common than what you describe, in my experience.
That being said, I agree that there's an extra challenge here to guide the interviewer through your thinking as you are doing it. The interviewer knows this, they know you are thinking out loud, so of course they are not expecting the same answer as if you were reading your notes off a page, so it's okay if it's a little messier.
My main advice here is: After you finish, restate everything quickly in a more organized fashion. I find that interviewees don't do this often, but it's an easy way to make all your answers better and you can do it at almost any part of the interview, including behavioral to improve your answers. There's no rule that you only get one chance to say something and this is a good technique to improve your performance.
Hope this helps, happy to provide more details through the chat.
This is exactly why I train my candidates to be prepared for anything!
Just because there are a million resources online, just because HR tells you the format will be x, doesn't mean the human element is eliminated! Ultimately, the interviewer will do what they want.
On a related note, you should also be prepared to have no time for a framework at the beginning of a case AND be prepared to have no time for a final recommendation (i.e. "Sorry, the CEO is calling right now" or "You've bumped into the CEO in the hallway")
Now, in terms of tips on how to handle this:
You want to practice live structuring with candidates/coaches
Learn to write while you talk
Write down the key words/buckets of what you're thinking
Learn to buy time ("Ah! That's a really interesting question. I think there are probably a few ways to approach it...I think there could be an x or y approach. But I think ultimately I'm thinking about it in the following way"...you say this all while thinking out your real structure)
Hi there,
This is exactly why I train my candidates to be prepared for anything!
Just because there are a million resources online, just because HR tells you the format will be x, doesn't mean the human element is eliminated! Ultimately, the interviewer will do what they want.
On a related note, you should also be prepared to have no time for a framework at the beginning of a case AND be prepared to have no time for a final recommendation (i.e. "Sorry, the CEO is calling right now" or "You've bumped into the CEO in the hallway")
Now, in terms of tips on how to handle this:
You want to practice live structuring with candidates/coaches
Learn to write while you talk
Write down the key words/buckets of what you're thinking
Learn to buy time ("Ah! That's a really interesting question. I think there are probably a few ways to approach it...I think there could be an x or y approach. But I think ultimately I'm thinking about it in the following way"...you say this all while thinking out your real structure)
interviewers sometimes to that in order to test how you act under pressure. This does not mean you don't need a structure (it is essential in any case!), but rather that you think about, draw and explain the structure to the interviewer all in one step - just "think aloud". Guiding the interviewer through your thinking process is an essential skill you should master when conducting interviews.
Why does the interviewer do it? It is very likely that you experience a situation in which a client asks a question that you haven't prepared an answer for. Now, what will you do? You wouldn't say "sorry, I don't have an answer to this, but I'll come back in an hour", would you? Rather, you are expected to think it through and develop an answer while simultaneously guiding the client through your thinking process.
Hope this helps!
Best
Dorothea
Hi Anonymous,
interviewers sometimes to that in order to test how you act under pressure. This does not mean you don't need a structure (it is essential in any case!), but rather that you think about, draw and explain the structure to the interviewer all in one step - just "think aloud". Guiding the interviewer through your thinking process is an essential skill you should master when conducting interviews.
Why does the interviewer do it? It is very likely that you experience a situation in which a client asks a question that you haven't prepared an answer for. Now, what will you do? You wouldn't say "sorry, I don't have an answer to this, but I'll come back in an hour", would you? Rather, you are expected to think it through and develop an answer while simultaneously guiding the client through your thinking process.
An interviewer may do that indeed to see how you react under pressure.
I would recommend keeping a structure anyway. Simply present it at the beginning without taking time. You may want to train with peers if you find it challenging.
You may do a mistake in laying down the first level of the structure because you didn’t have time to think. Just acknowledge it, correct it and go on, the interviewer won’t expect your structure to be perfect given you did not have time to think.
Best,
Francesco
Hi there,
An interviewer may do that indeed to see how you react under pressure.
I would recommend keeping a structure anyway. Simply present it at the beginning without taking time. You may want to train with peers if you find it challenging.
You may do a mistake in laying down the first level of the structure because you didn’t have time to think. Just acknowledge it, correct it and go on, the interviewer won’t expect your structure to be perfect given you did not have time to think.
There is one trick that can help you: structure the market sizing top-down, not with a formula. In that case - you will not need any extra time.
A very simple example: you need to calculate the number of dogs on manhattan. A number of dogs = share of households having a dog * # of households. # of households = population / average household size. In the end, you'll have a pyramid where you have to fill the numbers on the base of the pyramid. This approach is much easier and help you track all the numbers
Best
Hi,
There is one trick that can help you: structure the market sizing top-down, not with a formula. In that case - you will not need any extra time.
A very simple example: you need to calculate the number of dogs on manhattan. A number of dogs = share of households having a dog * # of households. # of households = population / average household size. In the end, you'll have a pyramid where you have to fill the numbers on the base of the pyramid. This approach is much easier and help you track all the numbers
Hi there! Interesting question!
Usually, they give time, however here you can see how it is essential to be ready for any unexpected circumstances. So during the preparation, you should also pay attention to this.
Good luck!
GB
Hi there! Interesting question!
Usually, they give time, however here you can see how it is essential to be ready for any unexpected circumstances. So during the preparation, you should also pay attention to this.
Good luck!
GB
Instead of quietly scribbling your structure, you just talk & explain your structure as you are drawing it. Its okay to strike out and start a new structure if you make a mistake. But keep talking. Generally, most interviewers will give you the time & space to structure and get ready before you start talking. But what you experienced is not uncommon.
Instead of quietly scribbling your structure, you just talk & explain your structure as you are drawing it. Its okay to strike out and start a new structure if you make a mistake. But keep talking. Generally, most interviewers will give you the time & space to structure and get ready before you start talking. But what you experienced is not uncommon.
Hi, 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:
Hi, 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:
You're right, that is unusual. Normally, when interviewing the interviewer would offer 2-3mins at the start for you to structure.
In this case even if you don't get this prompt, you can propose it to the interviewer by saying you'd like a few minutes to think about this and then will answer the question, which would be absolutely fine
You're right, that is unusual. Normally, when interviewing the interviewer would offer 2-3mins at the start for you to structure.
In this case even if you don't get this prompt, you can propose it to the interviewer by saying you'd like a few minutes to think about this and then will answer the question, which would be absolutely fine
Oliver Wyman case: Full Electrons AheadYour client, large automotive OEM WyCar, has developed its first fully electric vehicle (EV) and introduced it as a pilot on the Austrian market last year. However, sales have been far below the expected numbers. The management has engaged you to support them in understanding the reasons and advise them on how to adjust the product offering.
Your client, large automotive OEM WyCar, has developed its first fully electric vehicle (EV) and introduced it as a pilot on the Austrian market last year. However, sales have been far below the expected numbers. The management has engaged you to support them in understanding the reasons and advise ... Open whole case
Bain Case: Old WineryYou have inherited the “Old Winery” from your grandfather, a winery which has been family owned for five generations and can be dated back to the 16th century.
Half of the eleven hectares are used to grow white grapes, the other half to grow red grapes. They are grown in the conventional way, i.e. they are not organically farmed and certified. The vine stocks are in a good condition regarding age and care. Overall, only ¼ of the harvest is made into wine by the winery itself; the rest is sold.
Your grandfather never wanted to change the image of the winery and left the managerial and administrative task to a young and energetic wine-maker. Due to the not so well-known brand , the demand for the “Old Winery” wine is currently rather low.
You do not intent to run the winery operatively, given your limited knowledge of wine making, but find the idea of owning a winery exciting. Your plan is to give the winery some fresh impetus.
You have inherited the “Old Winery” from your grandfather, a winery which has been family owned for five generations and can be dated back to the 16th century.
Half of the eleven hectares are used to grow white grapes, the other half to grow red grapes. They are grown in the conventional way, i.e. ... Open whole case
Roland Berger Case: OnlinestarOnlinestar, an online retailer of furniture and garden products (core business), has grown significantly in recent years as a result of an expansion of its product portfolio. The company mainly imports goods from Chinese manufacturers but also operates its own production of cat lavatories (special business) in Eastern Europe. The company sells its goods via Amazon and ebay, and recently via an online shop on its website. Despite this development, the financial ratios have deteriorated in recent years. In particular, gross profit margin decreased significantly. Combined with a significant increase in shipping costs, this led to a negative result for the first time in the recently ended fiscal year and a resulting strained financial situation. Against the background of expected stagnating sales for the current financial year, short-term action is required.
The board of Onlinestar asks you for an analysis of the reasons for the negative result as well as a derived recommendation for action. As a consultant, you should bring in your knowledge in online trading and develop solutions. In addition, the management board would like to receive a sales and gross profit plan from you for the current financial year.
Onlinestar, an online retailer of furniture and garden products (core business), has grown significantly in recent years as a result of an expansion of its product portfolio. The company mainly imports goods from Chinese manufacturers but also operates its own production of cat lavatories (special b ... Open whole case
NutripremiumNutripremium is a very well-known premium nutrition food company in Europe (€1 billion revenue last year). It is based in Spain and has an excellent market share not only in its home country but also in Portugal, France, Italy and Germany.
Nutripremium has two main lines of products:
Vitamin-supplements for pregnant women
Concentrated dehydrated aliments and vitamin pills for sick patients (with Diabetes or Cancer).
The CEO of Nutripremium thinks that the market in Europe is starting to get saturated and wants you to analyze the Chinese market.
What are the key areas you would explore to determine whether this is a good idea?
Nutripremium is a very well-known premium nutrition food company in Europe (€1 billion revenue last year). It is based in Spain and has an excellent market share not only in its home country but also in Portugal, France, Italy and Germany.
Nutripremium has two main lines of products:
Vitamin-su ... Open whole case
Children vaccineBeyer, one of the biggest pharmaceutical companies in the world, just invented a very reliable vaccine against Chickenpox, a disease that affects children in the age from 2 to 16 years.
Beyer came to you wondering what their potential sales in Europe in the first year would be if they launched this product next year. They are only interested in the overall sales revenue as they already know that the vaccine can be sold for a profit. This is more meant to show them how big the volume they have to supply is and what the revenue would be.
Beyer, one of the biggest pharmaceutical companies in the world, just invented a very reliable vaccine against Chickenpox, a disease that affects children in the age from 2 to 16 years.
Beyer came to you wondering what their potential sales in Europe in the first year would be if they launched this ... Open whole case