Facebook Pixel
Searching...
English
EnglishEnglish
EspañolSpanish
简体中文Chinese
FrançaisFrench
DeutschGerman
日本語Japanese
PortuguêsPortuguese
ItalianoItalian
한국어Korean
РусскийRussian
NederlandsDutch
العربيةArabic
PolskiPolish
हिन्दीHindi
Tiếng ViệtVietnamese
SvenskaSwedish
ΕλληνικάGreek
TürkçeTurkish
ไทยThai
ČeštinaCzech
RomânăRomanian
MagyarHungarian
УкраїнськаUkrainian
Bahasa IndonesiaIndonesian
DanskDanish
SuomiFinnish
БългарскиBulgarian
עבריתHebrew
NorskNorwegian
HrvatskiCroatian
CatalàCatalan
SlovenčinaSlovak
LietuviųLithuanian
SlovenščinaSlovenian
СрпскиSerbian
EestiEstonian
LatviešuLatvian
فارسیPersian
മലയാളംMalayalam
தமிழ்Tamil
اردوUrdu
Case In Point

Case In Point

Complete Case Interview Preparation, 8th Edition
by Marc P. Cosentino 2013 228 pages
3.97
2k+ ratings
Listen

Key Takeaways

1. Master the Case Interview Structure for Consulting Success

Case questions can be made simple through preparation and practice.

The Case Commandments. Follow these rules to excel in case interviews:

  • Listen carefully to the question
  • Take organized notes
  • Summarize the question and verify objectives
  • Ask clarifying questions
  • Structure your answer logically
  • Think before speaking
  • Manage your time effectively
  • Incorporate quantitative analysis
  • Be coachable and responsive to feedback
  • Demonstrate creativity and enthusiasm
  • Bring closure with a clear summary

Interview Components. A typical case interview consists of:

  • Introduction and rapport building
  • Questions about your background and experience
  • The case question(s)
  • Your questions for the interviewer
  • Closing remarks and next steps

2. Develop a Strategic Approach to Market Sizing Questions

Market-sizing questions surface all the time and can be found during any round of interviewing.

Types of Market Sizing. Recognize three main categories:

  • Population-based questions (e.g., smartphone sales)
  • Household questions (e.g., digital movie downloads)
  • Preposterous questions (e.g., jelly donuts in the Leaning Tower of Pisa)

Key Strategies:

  • Use round numbers and logical assumptions
  • Break down the problem into smaller, manageable parts
  • Consider demographic factors and market segments
  • Utilize known benchmarks and ratios when possible
  • Articulate your thought process clearly

Example Approach: For a population-based question on smartphone sales:

  1. Estimate total population
  2. Break down by age groups or generations
  3. Estimate smartphone ownership percentages for each group
  4. Calculate total market size
  5. Consider additional factors like replacement cycles or market growth

3. Navigate Profit and Loss Cases with the E(P=R-C)M Framework

Profit-and-loss questions have been the most popular type of question for the last five years.

E(P=R-C)M Framework:

  • E: Economy (external factors)
  • P: Profit
  • R: Revenue
  • C: Costs
  • M: Market (industry factors)

Key Steps:

  1. Analyze external economic factors
  2. Examine industry trends and competition
  3. Investigate company's revenue streams and trends
  4. Analyze cost structure (fixed and variable)
  5. Consider pricing and volume relationships
  6. Develop strategies to increase revenues or reduce costs

Revenue Strategies:

  • Increase prices
  • Expand distribution channels
  • Introduce new products or services
  • Enhance marketing efforts

Cost Reduction Strategies:

  • Optimize production processes
  • Renegotiate supplier contracts
  • Implement technology solutions
  • Streamline workforce

4. Excel in Entering New Market and Pricing Strategy Cases

There are three main ways to enter a market: Start from scratch, acquire an existing player, or form a joint venture/strategic alliance with another player with a similar interest.

Entering New Markets:

  • Analyze market size and growth potential
  • Identify key competitors and market share
  • Assess barriers to entry and exit
  • Evaluate synergies with existing business
  • Consider cultural and regulatory factors

Market Entry Methods:

  1. Organic Growth:
    • Pros: Full control, tailored approach
    • Cons: Time-consuming, high risk
  2. Acquisition:
    • Pros: Immediate market presence, existing infrastructure
    • Cons: High cost, integration challenges
  3. Joint Venture:
    • Pros: Shared risk, local knowledge
    • Cons: Reduced control, potential conflicts

Pricing Strategies:

  1. Competitive Analysis: Benchmark against similar products
  2. Cost-Based Pricing: Determine costs and add desired profit margin
  3. Value-Based Pricing: Set price based on perceived customer value

Considerations for Pricing:

  • Customer willingness to pay
  • Competitive landscape
  • Brand positioning
  • Long-term market strategy
  • Price elasticity of demand

5. Leverage Frameworks and Tools for Comprehensive Case Analysis

A framework is a structure that helps you organize your thoughts and analyze the case in a logical manner.

Key Frameworks:

  1. Porter's Five Forces:

    • Threat of new entrants
    • Bargaining power of suppliers
    • Bargaining power of buyers
    • Threat of substitute products
    • Rivalry among existing competitors
  2. BCG Matrix:

    • Stars: High growth, high market share
    • Cash Cows: Low growth, high market share
    • Question Marks: High growth, low market share
    • Dogs: Low growth, low market share
  3. Value Chain Analysis:

    • Inbound logistics
    • Operations
    • Outbound logistics
    • Marketing and sales
    • Service
  4. SWOT Analysis:

    • Strengths
    • Weaknesses
    • Opportunities
    • Threats
  5. 4P's of Marketing:

    • Product
    • Price
    • Place
    • Promotion

Additional Tools:

  • Decision trees for evaluating options
  • Break-even analysis for financial decisions
  • Scenario planning for strategy development

6. Practice Cases Strategically to Improve Performance

Practice, practice, practice!

Effective Practice Strategies:

  • Solve diverse case types (market sizing, profitability, new market entry, etc.)
  • Time yourself to improve speed and efficiency
  • Practice both as interviewer and interviewee
  • Seek feedback from peers or mentors
  • Review and analyze your performance after each case

Key Practice Areas:

  1. Quantitative skills:
    • Mental math
    • Percentage calculations
    • Break-even analysis
  2. Qualitative analysis:
    • Industry trends
    • Competitive landscape
    • Business models
  3. Communication:
    • Structuring answers
    • Presenting findings
    • Handling pushback

Practice Resources:

  • Case books from top consulting firms
  • Online case libraries and simulators
  • Mock interviews with peers or alumni
  • Consulting club case workshops

7. Cultivate Essential Soft Skills for Interview Success

Remember the "rip right through it" attitude. It's not enough to do well on the case; you have to thrive on the challenge of the case.

Key Soft Skills:

  1. Communication:

    • Articulate ideas clearly and concisely
    • Active listening
    • Non-verbal communication (eye contact, posture)
  2. Confidence:

    • Project a positive attitude
    • Remain composed under pressure
    • Defend ideas without being defensive
  3. Adaptability:

    • Pivot quickly when faced with new information
    • Handle unexpected questions gracefully
    • Adjust approach based on interviewer feedback
  4. Teamwork:

    • Collaborate effectively with the interviewer
    • Demonstrate ability to work in consulting teams
    • Show empathy and interpersonal skills
  5. Intellectual Curiosity:

    • Ask thoughtful questions
    • Show genuine interest in the case and industry
    • Demonstrate a desire to learn and grow

Developing Soft Skills:

  • Participate in case competitions and group projects
  • Seek leadership roles in extracurricular activities
  • Practice active listening and communication exercises
  • Engage in diverse experiences to broaden perspective

Remember, consulting firms are not just evaluating your analytical abilities, but also assessing whether you would be a good fit for their culture and client interactions. Developing these soft skills alongside your case-solving abilities will significantly enhance your chances of success in consulting interviews.

Last updated:

Review Summary

3.97 out of 5
Average of 2k+ ratings from Goodreads and Amazon.

Case In Point receives mixed reviews, with an average rating of 3.97 out of 5. Readers appreciate it as an introduction to case interviews, particularly for beginners. The book's frameworks and practice cases are highlighted as useful features. However, some critics find the frameworks limiting and argue that the book lacks depth for more advanced preparation. Many recommend supplementing it with other resources or practice. Some reviewers praise its clarity and practicality, while others find it confusing or oversimplified.

Your rating:

About the Author

Marc P. Cosentino is the author of "Case In Point," a popular book for case interview preparation. While specific details about the author are not provided in the given information, it can be inferred that Cosentino has expertise in the field of management consulting and interview preparation. His book is widely recognized and used by students and professionals seeking careers in consulting. Cosentino's work focuses on providing frameworks, strategies, and practice cases to help readers succeed in case interviews. His approach has garnered both praise and criticism from readers, indicating his significant influence in the field of interview preparation.

Download PDF

To save this Case In Point summary for later, download the free PDF. You can print it out, or read offline at your convenience.
Download PDF
File size: 0.32 MB     Pages: 12

Download EPUB

To read this Case In Point summary on your e-reader device or app, download the free EPUB. The .epub digital book format is ideal for reading ebooks on phones, tablets, and e-readers.
Download EPUB
File size: 3.01 MB     Pages: 7
0:00
-0:00
1x
Dan
Andrew
Michelle
Lauren
Select Speed
1.0×
+
200 words per minute
Create a free account to unlock:
Bookmarks – save your favorite books
History – revisit books later
Ratings – rate books & see your ratings
Unlock unlimited listening
Your first week's on us!
Today: Get Instant Access
Listen to full summaries of 73,530 books. That's 12,000+ hours of audio!
Day 4: Trial Reminder
We'll send you a notification that your trial is ending soon.
Day 7: Your subscription begins
You'll be charged on Nov 21,
cancel anytime before.
Compare Features Free Pro
Read full text summaries
Summaries are free to read for everyone
Listen to summaries
12,000+ hours of audio
Unlimited Bookmarks
Free users are limited to 10
Unlimited History
Free users are limited to 10
What our users say
30,000+ readers
“...I can 10x the number of books I can read...”
“...exceptionally accurate, engaging, and beautifully presented...”
“...better than any amazon review when I'm making a book-buying decision...”
Save 62%
Yearly
$119.88 $44.99/yr
$3.75/mo
Monthly
$9.99/mo
Try Free & Unlock
7 days free, then $44.99/year. Cancel anytime.
Settings
Appearance