I was recently interviewed for an Inbound Marketing role at a tech startup. One of the questions asked was "How many cows are there in India?" If you were the interviewer, what would you have learnt about me and my marketing skills through the question?
-
-
Answer:
Such kind of questions are called Guesstimate (Guess + Estimate) Questions or Market Sizing Questions. Guesstimate questions are usually asked in consulting job interviews. Oftentimes during market-sizing questions, all you have to work with are logic and assumptions. There are going to be instances when your assumptions are wrong. Sometimes the interviewer will correct you; other times he will let it go. The interviewer is more interested in your logic and thought process than whether your answer is correct. The way you approach and solve the problem matters much more than the final answer you come up with. The best approach for an estimation or guesstimate case question is to think of a funnel. You begin by thinking broadly, then slowly drill down towards the answer. E.g. How many people live in China? A billion. Because the population of China is young, a full 600 million of those inhabitants might be of child-bearing age. Half are women, so there are about 300 million Chinese women of childbearing age. Now, the average family size in China is restricted, so it might be 1.5 children, on average, per family. Let's say two-thirds of Chinese women have children. That means that there are about 300 million children in China. How many of those kids are under the age of two? About a tenth, or 30 million. So there are at least 30 million possible consumers of disposable diapers. To summarize: 1 billion people x 60% childbearing age = 600,000,000 people x 1/2 are women = 300,000,00 women of childbearing age x 2/3 have children = 200,000,000 women with children x 1.5 children each = 300,000,000 children x1/10 under age 2 =30 million children P.S. The example has been taken from net.
Varun Gugnani at Quora Visit the source
Other answers
For Market-sizing questions like this, it doesn't matter what each specific question ask. Every question is extremely similar in term of the approach. Interviewers often spontaneously make up market-sizing question like this. So there's no point of learning a number of specific questions. It's way more important to learn the method. We developed a detail and compact video with magical 4-step approach on just that. Feel free to check it out: Hope this helps!
Kim Tran
Q : how many cows are there in india ?India population : 100 crores number of house hold : 100 crore / 4 = 25 crore house hold let say each house an average consume 1 litre of milk ( its average , because some house consume. half liter of milk , some consume 2 liters, some dont consume at all ,there are also sweet shops who consume more milk for sweets ....by considering all this factor , we average consupmation of milk to be 1 liters )25 *1 = 25 crore liters of milk ( milk can be from cow,buffalo, goat,As we know that , each animal like (cow,buffalo, goat, sheep etcs...) on average produce 5 liters of milk .so total milk producing animals to be 25 crore liters of milk/ 5 liters= 5 crore animalsHence 5 crore of milk producing animals .Now cow contribute 30 %. buffaloes 50 % ...remaining rest of percentage so .3* 5 crore = 1.5 crore Hence 1.5 crore of cows in india
Manoj Kumar
India's population = 1.2bnAround 40% of this population lives in villages and 60% in cities.Thus 480mn live in villages. Average household size in villages around 8 (joint families, higher fertility rate). So the total households are around 480mn/8 = 60mn.Out of these 60mn households many are poor who live below poverty level and many are poor peasants and informal workers are well. So let us assume that around 30% of the rural households own cows. Thus no. of households having cows = 0.3*60mn = 18mn.Now on an average these 18mn households own 2 cows each. That takes our figure to 18*2 = 36mn.Now there are many cows in slaughterhouses, many poor people may also own cows and taking in consideration some error we add around 10% more to this figure i.e. 36*1.1 = 39.6mnNow in urban India not many own cows but there are dairy centres in every city and town that breed cows. So taking the number of cows in urban India to be around 5% of the no.of cows in rural India, we get the no.of cows in urban India as 0.05*39.6 = 1.98 mnTotal cows in India = 39.6+1.98 = 41.58mn
Rahul Mazumdar
How many new smokers are added to the population of India every year :-) It's a classical question. We have to know where to start and that shows presence of mind. Deductive logic can be applied in different ways (e.g., the cows counting example of Rudrendra.) When asked how many companies are likely to buy cloud based HR Software like emportant, we estimate the number of SMEs and then try to size them for 50-500 employee organisations and deduce from there. Some such approach can be used for almost anything. Including calculating the number of new smokers!
Sandeep Todi
Hi well we can approach this question as belowThe population of India is 1.2 billionThe people below poverty line compromise of 15% of population. So milk consumption could be coming from 85% that is approx. 0.96 billion. The average family size is 4 so we have around. 0.24 billion family. The consumption of milk by one family could be approximated to 1 litre per day + milk consumed in indirect form like curd, sweets etc. 0.5 litres. Which give us around. 16 billion letres of milk required everyday. Since consumption of buffalo's milk is more than average. So from cow we could be getting almost 40% of milk. So we require 0.064 billion litres cow milkNow on an average a cow gives 15 litres of milk in a day so turns out to be approx 0.004 billion cows
Rohit Saluja
1) population of cows in India is say 1.2 billion 2) say for example per person milk consumption is 1/2 liters/day(it should be more than .1 lit and should be less than 1lit as in india consumption is just about world's avg. taking G.M we .333 rounded to .5) so total milk required is .5 * 1.2 *10^9 lit 3)say avg cow produces 5 lit approx per day so total no of cows =.5*1.2*10^9/5=120 million (actual answer is round about 280 million)
Rudrendra Kashyap
Related Q & A:
- How can i access the number of questions asked on stackoverflow?Best solution by Meta Stack Overflow
- What is the closest area where one could be at the ocean from Portland Oregon? How far? How many miles?Best solution by Yahoo! Answers
- Is there a limit of how many times one can study abroad?Best solution by Yahoo! Answers
- What are the questions asked at a Target Interview?Best solution by Yahoo! Answers
- How many cichlids should I keep in one tank?Best solution by fish-etc.com
Just Added Q & A:
- How many active mobile subscribers are there in China?Best solution by Quora
- How to find the right vacation?Best solution by bookit.com
- How To Make Your Own Primer?Best solution by thekrazycouponlady.com
- How do you get the domain & range?Best solution by ChaCha
- How do you open pop up blockers?Best solution by Yahoo! Answers
For every problem there is a solution! Proved by Solucija.
-
Got an issue and looking for advice?
-
Ask Solucija to search every corner of the Web for help.
-
Get workable solutions and helpful tips in a moment.
Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.