Marketing 101

Tackling the Marketing Case

Michelle Antonio, Columbia Career Coach Loren Margolis, Associate Director, MBA Career Education and Advising

October 29, 2010

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Goals

Share the employer perspective on interviews Overview of what to expect in the case portion of the marketing interviews

Review the most common types of Marketing cases & constructs for answering
Highlight Key Resources/Next Steps to prepare for success

Employer Perspective
Hiring is a time intensive process for employers and candidates. Mistakes are costly. Employers look to hire candidates who demonstrate: 1. Passion for the function, industry & company 2. Cultural Fit 3. Skills, knowledge & initiative to succeed
Leadership Teamwork Project management High-Level Communication Skills Strategic thinking Creativity/innovation Analytical thinking Knowledge of marketing concepts

Assessed in case interview performance

Interview Structure
1st round: 30-45 minutes Final round(s): Varies by company

Format includes some or all of the following:

Walk Me Through Your Resume or Tell Me About Yourself (Pitch Questions)

Baseline questions:
Why Columbia? Why marketing/brand management? Why this industry? Why this company?

Behavioral questions (Tell me about a time) Marketing cases

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Why Ask Marketing Case Questions?

Great method for evaluating: Knowledge of marketing concepts Critical skills for the job Strategic Thinking Analytical Skills Communication Skills Ability to think on your feet What do marketing firms expect from you? Demonstration of strong understanding of, and ability to apply, key marketing concepts not previous background Opportunity to understand how you think is more important than the right answer
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How to handle Marketing Case questions

Approach each question with a logical structure/ marketing framework (3 Cs, 4 Ps, STP) Start strategic (broad), then get tactical (narrow) Apply the other 3 Cs (Clarity, Conciseness & Confidence): 1. Clarity articulate your roadmap upfront and your rationale throughout so they can see how you think 2. Conciseness ask focused, relevant questions 3. Confidence make reasonable assumptions, draw conclusions, assert your opinions, deliver recommendations
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Typical Marketing Case Types

General Marketing Knowledge case New Product Launch case Business Case (declining sales, declining share, defending against a new competitor, etc.) Advertising Critique

Creativity/Innovation case

General Marketing Knowledge Cases

Questions that assess your general marketing and industry knowledge.. can easily turn in to another case:
What are the main consumer trends that you see in the marketplace for Category X?If you had to launch a product to capitalize on one of these trends, what would it be and why? How would you market it?

What is your favorite advertising campaign today?..If you had to launch a counter ad campaign, what would it be and why?

Approaching General Marketing Knowledge Cases

Requires you to tap in to your knowledge of current trends, current events; so prepare by doing research, research, research! Recognize that these cases can be similar to other ones assessing a new product launch, advertising critique, so use frameworks where appropriate Demonstrate your passion by asserting your opinion

New Product Launch cases

These cases test your ability to apply strategic and tactical marketing concepts as it relates to a new product launch
Example: You are in charge of all new products at General Mills and are charged with assessing all new product ideas. One of the managers who works for you has decided that GM should enter the frozen yogurt market. She is very excited about the product potential and is considering leveraging one of two brands for the new product: Pillsbury or Yoplait. How would you go about evaluating this new product idea and which brand, if any, would you leverage and why?

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Approaching New Product Launch cases

Strategic (3 Cs, STP) and tactical (4 Ps) frameworks will be needed Always start with the consumer/customer do consumers want/need this product?

Assess the company opportunity & competition

Competitive threats/response Cost/Ease of entry (capital investment, branding, distribution) Size of the market estimate your market share

Determine Segment/Target/Positioning what is your singular benefit that you intend to deliver to your target customers. How will your positioning be differentiated from competition?
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Approaching New Product Launch cases (contd)

Determine marketing execution (4 Ps)

Price should reflect positioning and drive profit Product which attributes to offer Promotion how will you create awareness and trial for product? Placement where will consumer buy it?

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Business Case Questions

Can range from mini consulting case questions to realworld business scenarios

Mini consulting case examples How many blue cars are there in the US? If everyone in China held hands how many times would they circle the earth? At any one point in time, how many gallons of ice cream are being sold around the world?
Real world business scenarios Declining Sales Declining Share Defending against new competitor
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Approaching Business Case Questions Declining Sales/Share

Start broad/strategic: Is decline driven by general category decline or share decline in my brand only? Why is category/share declining? Answer will drive decision to reverse decline or exit category Substitutes vs. change in consumer habits Change in own product vs. competitor product

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Approaching Business Case Questions Declining Sales/Share (contd)

Once root causes are identified, determine strategy and tactics to address: If category is declining, develop strategy to increase category usage or exit If share is declining, determine why (explore 4 Ps) and develop appropriate strategic response
Price: has my price changed relative to competition? Product: has the quality of my product changed or has competition upgraded/launched new products? Promotion have promotions changed? Placement have I lost distribution relative to competition?

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Approaching Business Case Questions Defending Against New Competitor

Assess the threat to determine whether or not you need to defend
Does the new product meet an untapped consumer need? How strong is the competitor? Will they spend to support the launch? Do they have track record of being smart marketers? Where will they take volume from? Are they targeting you or your competitors?

If you need to defend, strategies to consider:

Reinforce brand/product equity with advertising remind consumers why your product is superior to discourage them from trying new product Upgrade your product to provide new benefit

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Approaching Business Case Questions Defending Against New Competitor (contd)

If you need to defend, strategies to consider (contd):

Load consumers with your product so they will be stocked during competitor launch by using price incentives If issue is private label entrant, determine how much of a price premium you can charge before your brand starts to lose volume; also, consider introducing a value brand

Track new competitors performance after launch

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Advertising Critique Case

These cases assess your ability to critically analyze the effectiveness of a current or potential advertising campaign, using a consumer and brand focused framework
What is the most innovative advertising campaign youve seen in the last year and why? Give an example of an advertising campaign that you think was misguided or a failure and why?

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Approaching the Advertising Critique Case

Assess the advertising on the following dimensions:
Consumer
Who is the Ad targeting? Will This Ad get the Target Consumers attention and be recalled? Is it being seen/heard in the optimal print/media channels? What is the Benefit being communicated in the Ad? Is the Benefit being communicated clearly? Is it compelling? Does the Ad link the Brand to the Benefit? Is the Brand portrayed positively?

Benefit Brand

Impact

Would this Ad compel the Target Consumer to purchase the product? Is the Ad ownable by the brand (i.e., could any other brand deliver this message)?
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Creativity/Innovation Case Questions

These questions are opportunities to:
Demonstrate you can think creatively on your feet Convey your passion for marketing Prove you can link creativity to strategy So, think strategically! Express your personality

Examples:

If you could be a snack food, which one would you be and why? What are 10 things you can do with an empty pint of HaagenDazs ice cream? What are 5 ways you can improve a cereal box?

Approach: While there are no stock frameworks for these creativity questions, you can and should use structure and frameworks to generate ideas
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New Product Case Example in Action

You are charged with marketing in the U.S. a candy bar that has been very successful in England. What things should you consider in bringing the product to the U.S.? Debrief: After hearing the candidates response, what do you think worked well? What could have been improved in her response?

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Resources & Next Steps

PRACTICE! PRACTICE! PRACTICE! PRACTICE!

Career Management Center: Advisors, Columbia Coaches, Career Fellows for mock interviews CML: Job Juice Cards, Resume Books, Business Card Binders COIN: Industry Research>Marketing>Interview Qs, Interview Stream, First Research MAC: Your Mentor The MAC website, Company Events and presentations Other: Mock Madness (12/3): Stay tuned for more details! Go shopping, research company websites, blogs, trade publications (AdAge, BrandWeek, AdCritic) Watch and analyze TV commercials (Super Bowl) Meet insiders (alumni, company reps, classmates)
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Closing Thoughts
There are 3 things you need to prove in the interview: 1. YOU CAN DO THE JOB
Translate your resume into marketing language Know how your experience is relevant and sell your skills!

2. YOU ARE A FIT FOR THE JOB

Know why you want to work for that company

3. YOU WANT THE JOB

Know why you want to work in marketing Do your homework on the industry and company Get excited and show it!

Good luck and let us know how we can help!

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