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Client Discussion revenue
New answer on May 12, 2021
2 Answers
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Anonymous A asked on May 12, 2021

Question: A client has an issue in fall in revenue on a product and we want to know what questions to ask the client.

As a consultant what are the questions to be asked to the client? could you please list the questions in the order of asking?

Here's my Response:

1. Have you increased the product selling price? If so why?

2. Was there any change in Marketing or PR strategy for that product?

3. How many customer complaints received and how many of them are unresolved customer complaints?

4. Was this product featured in Public/social media on non performance?

5. With the MI/analytics, which customer base has reduced buying this product?

6. What are the source of revenue for this product?

7. Was there a negative social media campaings which drops the revenue?

8. What are the cutomer complaints for this product?

9. Is there a specialised team to look after the live defects?

10. Have we included product managment team to know/aware of this issue?

11. What is the industry trend set for this product?

Please review and share your thoughts.

Regards,

KK

(edited)

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Antonello
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replied on May 12, 2021
McKinsey | NASA | top 10 FT MBA professor for consulting interviews | 6+ years of coaching

Hi, I would like to suggest similar questions in the platform to practice with:

  • https://www.preplounge.com/en/consulting-forum/how-much-would-you-charge-to-clean-all-the-windows-in-seattle-4965
  • https://www.preplounge.com/en/consulting-forum/market-sizing-milk-consumption-5087
  • https://www.preplounge.com/en/consulting-forum/how-would-you-calculate-the-value-of-a-cow-4982
  • https://www.preplounge.com/en/consulting-forum/estimate-number-of-traffic-lights-in-a-london-5692

Hope it helps,
Antonello

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Ian
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updated an answer on May 12, 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi,

You've just listed a random list of ideas. This is a laundry list. There is not plan of attack, no organization, no "if then this" thinking. Yes, your questions are good. But, you haven't structured your approach! This means it'll take you forever getting to the answer (if you ever get there), and you'll waste the client's time and money!

This is where frameworks and structure come in!

How do I use frameworks in a case?

If there's anything to remember in this process, is that cases don't exist just because. They have come about because of a real need to simulate the world you will be in when you are hopefully hired. As such, remember that they are a simplified version of what we do, and they test you in those areas.

As such, remember that a framework is a guide, not a mandate. In the real-world, we do not go into a client and say "right, we have a framework that says we need to look at x, y, and z and that's exactly what we're going to do". Rather, we come in with a view, a hypothesis, a plan of attack. The moment this view is created, it's wrong! Same with your framework. The point is that it gives us and you a starting point. We can say "right, part 1 of framework is around this. Let's dig around and see if it helps us get to the answer". If it does, great, we go further (but specific elements of it will certainly be wrong). If it doesn't, we move on.

So, in summary, learn your frameworks, use the ones you like, add/remove to them if the specific case calls for it, and always be prepared to be wrong. Focus rather on having a view, refering back to the initial view to see what is still there and where you need to dive into next to solve the problem.

Check out my prior answer on profit increase (includes sales/revenue) here: https://www.preplounge.com/en/consulting-forum/prioritise-increasing-revenues-or-decreasing-costs-in-a-profit-increase-case-9420

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Antonello

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