Cracking the Case

A Consulting Interview Primer

Copyright 2004 Deloitte Development LLC. All rights reserved.

Agenda

Introductions
What is a case?
What are companies looking for in the case interview?
How do you approach a case?
Practice

Copyright 2004 Deloitte Development LLC. All rights reserved.

What is a case?
A case is a hypothetical business issue or dilemma that
requires you to:
Analyze the situation
Identify key business issues
Summarize findings and takeaways
Outline next steps

Copyright 2004 Deloitte Development LLC. All rights reserved.

What is a case interview?

Cases are a key part of the interview process

Relevant to a broad spectrum of employment opportunities

(marketing, investment banking, consulting)
A critical component of the recruiting process at many firms
Offer you an opportunity to demonstrate your flexibility, your
analytical ability, your experience and your creativity

Copyright 2004 Deloitte Development LLC. All rights reserved.

Recent examples of case interview questions

What are the marketing implications of a partnership between

ChevronTexaco and 7-Eleven in which the gas would be supplied by
Chevron and the convenience store would be managed by 7-Eleven?
What strategy should a regional grocery chain pursue to
combat/survive against the imminent arrival of Wal-Mart Supercenters
in the region?
What are all the uses you can think of for Hidden Valley Ranch salad
dressing?
How would you forecast revenues for Herceptin, a protein-based
biotherapy for metastatic breast cancer?
These questions were all asked in case interviews at Kellogg in 2004
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Copyright 2004 Deloitte Development LLC. All rights reserved.

What are companies looking for in the case

interview?
Analytical Skills
Problem definition and solution
structuring
Analytical ability

People Skills
Communication skills
Listening
Presentation / speaking

Quantitative capabilities

Business acumen

Dealing with apparent deadends

Confidence

Ability to . . .
Synthesize data
Think creatively
Defend hypothesis

Copyright 2004 Deloitte Development LLC. All rights reserved.

How to crack the case

1. Understand the issue; ask clarifying questions as needed
2. Identify and test the underlying assumptions
3. State your null hypothesis
4. Select an appropriate analytical framework
5. Use the selected framework to identify key business issues
(Keep your eye on the clock!)
6. Summarize key issues and findings
7. Outline your final recommendation and the expected results or
impact
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Copyright 2004 Deloitte Development LLC. All rights reserved.

Choosing a framework

You will probably need a framework to come up with a good answer to a

case question
Choose a framework that fits the problem
Dont be afraid to create your own framework as long as it makes
sense
A framework provides structure to guide your analysis of the case and
helps you to identify a good solution

Copyright 2004 Deloitte Development LLC. All rights reserved.

The key is selecting the right framework for

the problem
Competitive strategy
Porters 5 (or 6, or 7) Forces
SWOT Analysis (Strengths, Weakness, Opportunities, Threats)

Organizational
7-S (Strategy, Structure, Systems, Style, Staff, Skills, Shared Values)

Marketing
4 Ps (Product, Price, Place, Promotion)
3 Cs (Company, Competitors, Customers)
Growth / Share Matrix

Profitability
Profit = Revenue Cost
Revenue = Price x Quantity
Cost = Fixed Costs + Variable Costs

Copyright 2004 Deloitte Development LLC. All rights reserved.

Logical structuring is essential

Logic should be MECE

Mutually Exclusive, Collectively Exhaustive
Structure of your argument is rigorous, non-overlapping, and complete

Structure your answer as well as your thinking

Say what youre going to say, say it, and say what you said
Dont lose sight of your structure when speaking
Be consistent and convincing in the message youre trying to get across

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Approach: Practical tips

Take a deep breath

Take a minute or two to structure your approach
Think before you speak
Speak what you are thinking

Ask questions
You have to know the question before you can provide an answer
Information is generally provided only when it is requested
Be ready to explain the logic behind your question if challenged
The ability to ask intelligent questions is a key professional skill

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Approach: Practical tips

Write it down
Structure your notes in line with the selected framework
Use charts and diagrams to better communicate your ideas

Show your reasoning

Talk the interviewer through your thought process
You are being evaluated on the process as much as the answer

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Chicago Symphony Orchestra

The Chicago Symphony Orchestra experienced a significant
decrease in ticket sales for its 2004 Summer Concert Series
compared to sales for the past three years. The series is held
at the Ravinia Festival Grounds in suburban Highland Park,
and has become a Chicagoland tradition. In planning for the
Summer 2005 Concert Series, the coordinators have been told
that sales for the 2005 Summer Concert Series must increase
in order for the series to continue. The coordinators have
asked you to determine why sales were down for 2004 and
advise them as to how they can ensure a successful and
profitable Summer Concert Series for the year 2005.

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Chicago Symphony Orchestra: Possible response

1) Understand the issue; ask

clarifying questions as needed

What went wrong?

2) Identify and test the

underlying assumptions

Quality of performance has

remained constant

What should CSO do in 2005?

Major macroeconomic factors

3) State your null hypothesis

Lack of parking availability has

affected ticket sales

4) Select an appropriate
analytical framework

Product, Place, Price, Promotion

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Company, Competitors,
Customers

Copyright 2004 Deloitte Development LLC. All rights reserved.

Chicago Symphony Orchestra: Possible response

5) Use the selected framework to

identify key business issues

Ease of implementation
Extent to which it addresses
the problem
Level of benefit

6) Summarize key issues and

findings

Offer a shuttle service from

various central locations
Create partnership with local
transit to offer discounted or
free transportation
Expand METRA service from
Chicago and other key cities

7) Outline next steps and your

final recommendation

Who to contact
How to implement
Whats the timeline

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Feedback
Problem definition and solution structuring
Analytical ability
Quantitative capabilities
Dealing with apparent dead-ends

Ability to . . .
Synthesize data
Think creatively
Defend hypothesis

Communication skills
Listening
Presentation / speaking

Business Acumen
Confidence

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Kellogg Premium Water

You have just been named Brand Manager of Kellogg Premium

Water. Your sales are declining. What would you do to reverse
the trend?

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Kellogg Premium Water: Possible response

Is the decline driven by a general category decline or a share decline
for Kellogg Premium Water?
Why is share or category declining?
Substitutes
Change in consumer habits

If category is declining, determine strategy to increase category usage

If share is declining, determine why (explore 4Ps):
Price Has price changed relative to competition?
Product Has the quality of the product changed? Are there any competitive
product upgrades/new products?
Promotion Have my promotions/advertising changed or decreased? Any
new competitive promotions/advertising?
Placement - Have I lost any distribution? Have competitors gained
distribution?

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Case interviewing: Dos

Listen to your interviewer, take your time and make sure you
understand the question
Ask questions to gather background information
Develop an approach and a hypothesis and bounce questions off your
interviewer to test them out
Show the interviewer what youre thinking talk through your thought
process
Once you have identified some underlying problems, formulate
recommendations and be prepared to defend them
Finally, when closing your answer, define the problem, actions you
would take, why you would take them, and the expected results

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Case interviewing: Donts

Dont jump into your answer right away
Dont make assumptions without clarifying with the interviewer
Dont worry about the right answer, worry about the right approach
Dont explicitly or exclusively rely on canned frameworks
Dont appear flustered or frustrated

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Questions?

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Copyright 2004 Deloitte Development LLC. All rights reserved.

Contact information
Jeremy Miller, Manager
jsmiller@deloitte.com

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Copyright 2004 Deloitte Development LLC. All rights reserved.