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Case Interviews

Case Interviews. Team 7 Stacey Orin Kelly Goyden Pam Evans Mark Schlatter Jamie Stoll. What is a Case Interview?. Thoughtful discussion of business issues A chance to impress your “future boss” Demonstrates creativity and problem-solving skills. When is it used?. Consulting firms

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Case Interviews

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  1. Case Interviews Team 7 Stacey Orin Kelly Goyden Pam Evans Mark Schlatter Jamie Stoll

  2. What is a Case Interview? • Thoughtful discussion of business issues • A chance to impress your “future boss” • Demonstrates creativity and problem-solving skills

  3. When is it used? • Consulting firms • Large Corporations • Jobs where you must think on your feet

  4. Types of Case Interviews • Brain Teasers • Solving riddles and puzzles • Focus on creative answers • Market Sizing • Requires longer answer, must explain reasoning, • Interviewer looking for structure of answer, i.e. “How did you get there?” • Project • Most complex • Working out a typical business situation that applicants are not familiar with • This demonstrates analytical skills • Thinking out loud, while asking questions of the interviewer (they will usually lead you down the correct path, so follow their lead)

  5. Preparation for Case Interviews • Confidence • Practice Brain Teasers • Practice thinking outside the box • View different perspectives on issues and problems • Go through your thought processes (how did you get the answer to this question?)

  6. Case Interview Examples • Brain Teasers • Light switch • Toothpick Example • Market Sizing • How many beige washing machines were sold in Canada last year? • How many telephone booths are there in N.Y. city?

  7. Examples Continued • Project: Capital One • You have just been appointed the manager of the Cross Sells team at Capital One, which • Evaluates opportunities to market non-credit card products to our credit card customers • Usually involve building relationships with outside vendors who sell us products that we, in turn, can sell to our customers at a premium.

  8. Capital One • Prepaid Phone Card -- a piece of plastic you can use to pay for long distance telephone calls • Your only responsibility is to market the product in a way that maximizes profit for Capital One

  9. Capital One • How much does each Phone Card cost Capital One? • Are there any other costs involved, such as a set-up fee? • Are there any constraints on how many minutes each Phone Card has? • Are there any constraints on how much we can sell the cards for? • How much do competitors charge for the Phone Cards? • ETC…

  10. Capital One • The card may be sold at any price, and other companies have sold the cards for up to $0.75 per minute • The card may be sold with any number of minutes on it • Capital One must pay $0.20 per minute sold • Capital One must pay $2.00 per card sold for account set-up, which includes card materials, the vendor's system programming, and postage • The vendor notes that the Phone Card could be a good addition to Capital One's cross sell program, which ordinarily offers products in the $5 to $30 price range • Let's assume that Capital One has decided to sell 60-minute Phone Cards at a price of $30 each. How much profit do we make on each card sold?

  11. Capital One • X = Profit per card soldX = (Revenue per card) - (Expense per card)X = $30 - (($0.20*60) + $2.00)X = $16 • How should we market this product? There are several different distribution channels we could use.

  12. Capital One • Statement Inserts - Little slips of paper we put inside customers' monthly statements, which they return to us when they mail us their payments. • Bangtails - Slips of paper that are attached to the backs of the envelopes that customers use to mail in their payments. If they are interested in buying the product, they can rip off the stubs and put them inside the envelopes. • Statement Messages - A line or two of text typed on the remittance stub of each statement (the part a customer rips off and mails back with the check). It might say something like, "Check this box if you would like to purchase a Capital One Phone Card, good for 60 minutes of long distance calling, for only $30!" • Direct Mail - We could send our customers a letter—separate from their monthly statement—describing the Phone Cards in detail. • Outbound Telemarketing - We could place telephone calls to our customers describing the cards and asking them if they would like to purchase one.

  13. Capital One • Cost • Time to Market • Let R = the number of responders (Revenue per card sold) - (Expense per card sold) = 0$30R - [($0.20*60)R + $2.00R + (100*$0.04)] = 030R - 12R - 2R - 4 = 016R = 4R = 0.25 people per hundredR = 0.25% • Any way you look at it, the answer is the same—if more than 0.25% of customers who receive the Phone Card offer decide to purchase a card, then we will make a profit. If fewer than 0.25% of customers respond, then we will lose money.

  14. Sources • http://www.campusaccess.com/campus_web/career/c5job_incaac.htm - Campus Access Website • http://www.capitalone.com/careers/caseindex.shtml - Capital One’s career’s site

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