Need some feedback on Case Interview
I'm new to this forum, so apologies if this is in the wrong category, but I am job searching (I've been infor almost a year now, doing a lot of reporting, and have accounting background. I would like to break into strategic finance or do some sort of lateral move where there is opportunity to grow) in an extremely competitive market, and I'm struggling a lot with the technical I'm given no feedback b/c of company policy. However, I would like to get some feedback so I know how to improve for future rounds:
Here are few sample questions (candidates are free to ask clarifying questions). It is themed around market product launch
- Pretend that X company is entering new market, please provide market size & 1st year sale in unit or revenue for Y home product
Answer: I'm going to assume that there is 5 million people in this market, and that 2 million of the existing population have no interest in the Y home product, which leaves us with 3 million potential new customer. Furthermore, I'm going to assume each household as 3 people. 3million/3=1 million products that could be sold. I'm also going to assume this new Y home product costs $200 per unit. 1 million x $200 = $200 million.
Market size: 1 million, 1st year sales: $200 million
2) Continuing off the 1st question, assume it's been a year since we sold our Y product, what other products from our company would influence our success?
Answer: I'm going to assume that there are other home products that work well with the Y product, so I would say those that pair with the Y product would influence the success.
3) If you could have access to any information, what else would you like to know?
Answer: competitive landscape because I'm curious about market share for this particular product b) product capabilities: what makes our product advantageous/better than others c) barrier to entry d) logistics: value supply chain - how are we building this product and where e) customer demand - do our customers in Germany want it?
4) How would you measure success in marketing campaign, and how do you determine if the metrics drove the marketing activity? (I acknowledge that I struggled with this question because I did not expect the interviewer to ask me how we will use the metrics to measure whether or not it drove a marketing activity, but I am open to feedback).
Answer: ROI, CLV, CAC
ROI: If marketing spend went up, but ROI also went up, I'd assume that marketing was involved
CAC: If we see this go up, in addition to % increase to ROI, I'd say the marketing activity drove an increase to ROI
Thanks in advance!!