4-step to market size anything in the world in a consulting case interview
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- เผยแพร่เมื่อ 2 พ.ค. 2024
- Market sizing - I remember I used to hate this type of question in a case interview for consulting, it just seems so difficult to solve under 30 minutes, until I mastered this perfect formula.
Watch until the end to learn my secrets to market size anything in the world
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Tourist calculation is wrong, because you assume that each tourist stays one day on average in Paris. You need to multiply the yearly number of tourists by the average number of days stayed in paris, then divide the product by 365 to find the number of tourists in paris on a given day
That’s exactly what I thought too.
Isn’t that what she was assuming? The # of tourists in Paris on a given day?
Angie I have to say thank you to you. Because of your useful video, I pass the job interview of one of the Big Four accountant firms by your logic framework in the campus recruitment. Love you so much and hope everything is well with you😃😃
Congrats! I'm super happy for you!
Angie this is the second video of yours that I'm watching, and I already know that I'll be watching all of them in my preparation for my interview. It is my first ever real corporate interview and I hope it goes really well. At least I'm Planing on it.
Love from Greece
Love the creativity and editing skills (and efforts!) you put into your videos ❤️ After the fun intro, I had hoped to see your alter egos in the outro again 😇
Recently discovered your channel and honestly, you’re a genius! I really enjoy how clear and creative you’re videos are. Maybe it’s also because you’re a fellow consulting girlie and I don’t see a lot of females make consulting content.
Great video Miss Angie Lu, needed to estimate my TAM. Thanks!
Amazing video! Thank you so much for those precious information.
Angie, thank you for this video and all the content you share here! It’s been pretty helpful for my prep.
Also, could you make a video about important basic formulas that we should know for the case interview?
Glad it's helpful! Good luck! and yes, will put that in my backlog
Great video, THANK YOU❤️❤️
Great material. Thanks
Hey, thanks for the great video! I think the distribution plot you used is normal distribution btw! Equal distribution should be a flat line.
that's true, a miss on my part, thanks for pointing it out!
Hi! I have a question, if we use the probability curve then shouldn't the population of people who eat croissants be 95% of the total population?
Thank you
If we have no idea about the beginning hypothesis (eg population of a given city), will this number be provided to us?
Hi, thank you for such an informative video. I have one question: In a case interview, can we ask the interviewer questions like the population of Paris or other general questions that help us frame a base for the hypothesis?
Yes
Would it make a difference to further down size the resident population by mentioning that a lot of people are very health conscious now and avoid pastries , so the aging population from say 50-70 could consume way less?
How can we calculate the number of tourists in a city? Please share your thoughts and approach
Thank you for such a helpful video! I was wondering, is data such as Paris population accessible during the interview, or do we have to estimate/memorize that?
You can ask the interviewer usually
Great tips! But we should consider also the number of days in avg that tourists spend in Paris, because when you dive per 360 you are considering that each tourist just stays one day in the city.
I’m wondering if that information would have any impact to the number of croissants sold each day? As the number of days a tourist stays in Paris does not necessarily double up in terms daily croissants bought on average? Pls correct me if my understanding is wrong
Hi Angie, I think your video offers the clearest and most structured explanation on approaching market sizing questions! A quick question though - does it make sense if I assume Parisian residents enjoy 1 croissant per day, say for breakfast; while for tourists, they may have 2 per day, say both for breakfast and afternoon snacks? Great thanks for the work!!!
yep, ofc. I think assumption is less about whether they are factually correct, but more around: is this reasonable, does it help you arrive at the final answer
Something that I always like to point out when I see it is that you mentioned the population of Paris as 2M. Using the metropolitan area is a more accurate measurement of city population because it includes the people that live in the residential suburbs around the central city districts. This difference can be particularly pervasive when there is a lot of urban sprawl. The Paris metro region is roughly 11-12M last time I checked, and assuming a large number of those people conduct their daily business within the city, you’re probably looking at some quite drastic changes to your underlying numbers.
that's a really good point, will keep in mind next time. Once thing to also note that is if your beginning hypothesis is super off (i.e. population of Paris in this example), interviewers will most likely give you a hint and guide you to the right path.
After all, market sizing is really a test of problem solving capability, instead of knowing random facts around the world
6:45 that is not an equal distribution of age. It's a gaussian: closer to the real distribution but more difficult to estimate age groups from
I have a question. Isn't this based on the wrong assumption that tourists will only spend one day in the city? Or do you estimate that even if it doubles or x7 it wont be meaningful compared to the residents?
this is why the step of understanding the problem statement and clarify becomes so important - we are solving the # of croissants sold every day, not in a year, so amount of time tourists spent in Paris doesn't matter here
@@missangielu Thanks! Any tips on how to NOT over complicate things? I have the prep interview today...!
I think you are right here. If 30 mil. tourists come to paris every year, lets assume they stay for an average of 3 days. Then you would say that you have 30x3 mil. tourist-day-instances (If a tourist comes to paris he is counted as 3 tourist-day-instances).
@@missangielu Hi! There are 30m visitors to Paris every year. On average, we have 30m/365 NEW tourists per day. But there are old tourists from the past, say, x days who are still there. Assuming that I am correct with what I say (I am not 100% certain), I would say it is a big blunder in an interview to forget things like that. These details are what make a difference between an average candidate and a stellar one
How did we determine that the addressable population of local residents in Paris is 75%?
I guess she further assumed that the population who would not consume being 0-5 Years old made up a minority percentage being 25%. Thus leaving us with 75% of residents who would consume Croissants .
Astrid is correct. again, this is just an assumption, you dont' have to be super accurate, key is to show logic, as long as you can explain it within reason
very good Miss . please I m Engineer what a course or Studies that could include subjects like this ? thank you
I stopped watching when the slide had Paris misspelled as Pairs
You said that estimation should be reasonable, and then you assumed that population of Paris is 2 mln ppl? In what world population of Paris is even roughly near 2 mln?
It is??
What does 0.5 croissant mean?
it's just easier for the calculation, just assuming not everyone will eat 1 croissant
You're beautiful and intelligent. 😍
Complete garbage