Facebook Interview - Market Assessment
About to jump into a market assessment/analysis/consulting interview. Any tips on what to expect and how to prepare?
Practice guesstimate (market sizing) questions. Start with an approx market size, then drill down into how many people will be interested in your product considering factors like age groups, education level, income, city tier etc to come to a logically defined answer. Final answer doesn't matter, the approach and factors considered does. All the best!
Actually final answer does matter, but up to the order of magnitude. Say answer is in order of 10k, but your estimate is in millions. That's bad. These questions are testing your approach, analytical skills, as well as sound business and other instincts. In a real job you will indeed be using these guess estimations and there just having right approach doesn't cut it.
Btw if your approach is right but numbers way off, your interviewer might give a hint and probe you on some assumptions you made. That's typically the right way to come back and adjust.
Follow