Welcome to MC’s Market Sizing Drills!
We’ve never met a top consultant who couldn’t size a market in their sleep.
At the undergrad/specialty masters’ level, you are likely to see a Market Sizing question (or mini case) as a standalone case in Round 0, or as part of a broader case in Round 1.
At the MBA/advanced degree level, you will often have to size a market as part of a larger case.
When we’re asked in one of our 200+ annual case workshops how to continue to prepare for case interviews, we always recommend candidates begin with Market Sizing Questions.
Why? Market Sizing requires of you the key skills that translate to case success across the board, like the ability to structure, make assumptions, run calculations, and drive to insights.
A few tips as you’re working through a Market Sizing question:
Structure your approach first
Outline the steps you want to take to solve the problem first.
Then, add assumptions
Once the interviewer is comfortable with your approach, go back and plug in numerical assumptions for each step, calculating as you go.
You’re not done until you get to a number!
Until you get to a numerical answer, you haven’t completed the process. Oh, and a properly sized market is measured in revenue per year!
Take a drill-based approach
Unlike more generic consulting case prep methods, we recommend drill-based practice. Start by going through ~5 drills like the ones below – focus the second time on building a strong structure, the third time on pushing yourself to add in segmentation, and the fourth time on increasing the speed of our calculations. Identify which parts of the process were tough for you. Once you know where you need help, home in on that specific part of the process. For example, if you need help with calculations, use our free mental math drills.
Work with an expert
If you have a friend or former classmate who has been a consultant, get their help! If not, or if you want help from recognized experts, work with our MBB coaches for live practice and hands-on coaching.