Common cases used in interviews

- In a typical behavioral interview, an interviewer will ask questions like, "What are your strengths and weaknesses?" "Can you tell me about a time you experienced conflict "and how you overcame it?" Or the dreaded question, "Tell me about yourself." Similarly, in case study interviews, there are typical business scenarios or types of cases that are the most common. While there are many, let's focus on the top four you'll experience in a case study interview. Number one, profitability. This is the most common of cases. Hint, if they are using phrasing about declining profitability or sales or rising costs, you probably have a profitability case on your hand. The best way to answer? Create a framework that utilizes the equation for profit, revenue minus costs. Create a tree diagram that breaks down revenue into volume and price per unit, then solve for costs which include volume times cost per unit and fixed costs, easy peasy. Number two, sizing. Any time an interviewer asks about entering a new market, you can assume they are presenting a sizing case study. In this type of question, they are really evaluating your quantitative skills and your comfortability working with numbers. It's time to whip out your mental math skills. Make sure you are mapping out the calculation steps to arrive to your answer. Round numbers to simplify, and double-check your calculations. If you can, use a funnel approach. This is when you narrow your focus and calculations with each step until you ultimately land on the answer. Number three, new product. If an employer is asking for your opinion on the viability of a new endeavor, they're probably asking you a new product question. To make sure you hit this one out of the park, ask clarifying questions to your interviewer. You want to understand everything you can about this hypothetical client and why they are looking to launch a new product. When formulating your answer, confidently land on one conclusion. The worst thing you could do is not answer clearly and concisely. Number four, pricing. Pricing case studies are fairly obvious. The interviewer will most likely ask you, "What do you think we should price XYZ service at?" When formulating your answer, first dig deeper into the company. Second, understand the product or service they are selling. And then finally, you can pick a pricing strategy. Make sure you don't create the strategy before you understand what you're working with. Some strategies include competitor-based pricing, value-based pricing, and cost-based pricing. Case study interviews are fairly predictable in structure and scope. So with a little bit of practice of these four types of cases, you'll feel more confident and prepared for your next interview.