4-step to market size anything in the world in a consulting case interview

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Күн бұрын

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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Пікірлер: 52

@chloelynch8174 Жыл бұрын

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😃😃

@missangielu Жыл бұрын

Congrats! I'm super happy for you!

@FotopoulosDimitris Жыл бұрын

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

@YOUinConsulting Жыл бұрын

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 😇

@peekapeeka6482 10 ай бұрын

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.

@AknEvns Жыл бұрын

Amazing video! Thank you so much for those precious information.

@levib2162 Жыл бұрын

Great video Miss Angie Lu, needed to estimate my TAM. Thanks!

@icecreamyolama5568 Жыл бұрын

Great video, THANK YOU❤️❤️

@Eltrissi Жыл бұрын

Great material. Thanks

@mariaeduardafranco1953 Жыл бұрын

Angie, thank you for this video and all the content you share here! It’s been pretty helpful for my prep.

@mariaeduardafranco1953 Жыл бұрын

Also, could you make a video about important basic formulas that we should know for the case interview?

@missangielu Жыл бұрын

Glad it's helpful! Good luck! and yes, will put that in my backlog

@weijiacai3930 Жыл бұрын

Hey, thanks for the great video! I think the distribution plot you used is normal distribution btw! Equal distribution should be a flat line.

@missangielu Жыл бұрын

that's true, a miss on my part, thanks for pointing it out!

@shodapad07 Жыл бұрын

Thank you

@dorukbayraktar23 Жыл бұрын

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

@ryan_singh 8 ай бұрын

That’s exactly what I thought too.

@Ahbidabs 6 ай бұрын

Isn’t that what she was assuming? The # of tourists in Paris on a given day?

@alizey1096 8 ай бұрын

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?

@astridbaye Жыл бұрын

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?

@carolinacoutinho4430 Жыл бұрын

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.

@laa7189 Жыл бұрын

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

@anishasuri1843 Жыл бұрын

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?

@williama.6818 Жыл бұрын

Yes

@anggipermanaharianja6122 3 ай бұрын

NICE

@monayzc Жыл бұрын

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?

@missangielu Жыл бұрын

You can ask the interviewer usually

@inezjames4192 Жыл бұрын

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!!!

@missangielu Жыл бұрын

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

@paulineottavj16 5 ай бұрын

If we have no idea about the beginning hypothesis (eg population of a given city), will this number be provided to us?

@sunrevolver 18 күн бұрын

In such interview, typically you could ask questions for information that you don't readily have.. What they want to judge is your problem solving skills, method of work (framework) not your ability to recall information that is easily googled

@McofCOD Жыл бұрын

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.

@missangielu Жыл бұрын

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

@Negrurismo Жыл бұрын

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?

@missangielu Жыл бұрын

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

@Negrurismo Жыл бұрын

@@missangielu Thanks! Any tips on how to NOT over complicate things? I have the prep interview today...!

@ilja9481 Жыл бұрын

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).

@amiria8501 Жыл бұрын

@@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

@Max-px5ym 10 ай бұрын

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

@mominakazim183 Жыл бұрын

How did we determine that the addressable population of local residents in Paris is 75%?

@astridbaye Жыл бұрын

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 .

@missangielu Жыл бұрын

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

@insights_isha 6 ай бұрын

How can we calculate the number of tourists in a city? Please share your thoughts and approach

@sunrevolver 18 күн бұрын

Ask them.. if not provided, make assumption.. don't be too fixated on whether the number is correct.. Again they want to know your ability to breakdown problems and go about to solving the problem..

@user-rv1pe2hj9w Жыл бұрын

What does 0.5 croissant mean?

@missangielu Жыл бұрын

it's just easier for the calculation, just assuming not everyone will eat 1 croissant

@RickRudey Жыл бұрын

You're beautiful and intelligent. 😍

@free_spirit07 6 ай бұрын

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?

@paulineottavj16 5 ай бұрын

It is??