Ace The Case Interview Through Management Consulting Frameworks

Consulting firms use case interviews to gauge how logical you think in resolving a business problem. You are expected to analyze it from different perspectives, break it down into simple, manageable chunks, do some computations and come up with effective recommendations. Considered as the ultimate test of your capability to do the job, you might want to spend time preparing for this type of interview.
No matter how overwhelming the problem is, there’s always a way of nailing it down. Truth be told, the recruiters don’t have a particular correct answer in mind. They have probably heard countless ideas from a number of applicants. Instead, they will focus on the process, on how you support your well-reasoned solutions. This is where case frameworks come into the scene. They provide a visual, step-by-step guide on approaching a problem in a systematic order. Employing them during interviews is a wise decision for it makes your life less complicated in front of the recruiter. It lets you generate ideas within a limited period of time.
Management consultants use several frameworks, and most of them concentrate on the areas elaborated below.
How’s the Is Consulting Right For Me Quiz Market?
The frameworks used for market research and analysis aims to find out the current trends and changes in the market. It states how the business can address the existing or potential needs of the customers. You will dig more information on the market’s past, present and predicted future behavior for the client to make better decisions. More often than not, you will do market segmentation for more specific results. A baby milk company would primarily benefit from the feedback and demands of mothers. A huge manufacturer of clothes has a wider coverage, though, since their ready-to-wear goods can be used by everyone.
In this area, you will check a few essential elements. Gathering information on the purchasing capability of your target customers will be part of the process, so as digging details about the bargaining power and financial capability of the suppliers. The existing competition among market players and among substituting products is another thing to be considered. Lastly, you will also mull over the size, motivation and trends of your target market. This allows you to come up with a new list of opportunities for market growth, advertising and product launching.
How’s the Company?
Some frameworks dwell on the establishment’s strengths, weaknesses, opportunities and threats. You will touch evaluation of systems, financial reports or strategic goals, depending on the case presented. You will perhaps ask, "Is the client technologically ready for establishing a centralized inventory management?" or "Is the decline in sales due to the low quality of products being sold or poor customer service?"
You will use these frameworks for three common reasons. When assessing how ready the client is for a merger and acquisition, the structure will guide you in looking at the profitability of the target company and at how the deal will be financed. For capacity expansion, you must evaluate the rationale, the market and other factors. When investigating how the client will increase their profits, you will check their operating costs and sources of income.
How’s the Strategy Consultant Jobs Product?
Some cases are product-related. It may be about how a product should be developed, advertised or priced. When confronted with cases in this area, use a framework that will evaluate the contributing factors. Usually, you will have to examine the supply, demand, promotion and distribution.
Who asks for iPhone 6? What will be its unique features? How will it be delivered to the customers? Should the marketing team create a video teaser or make use of online advertisements to launch the product? How much will it take the company to create one? Will people buy it even if it’s high-priced? The structure must be able to clarify these questions to ace the case interview.
As you apply a framework in your case interview, make sure that you engage the recruiter. Ask for additional information. Some don’t give enough unless asked.

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