cpg / marketing interview prep workshop...cpg / marketing interview prep workshop november 2016...

KNOWLEDGE FOR ACTION

CPG / MARKETING INTERVIEW PREP WORKSHOP

November 2016

Presented by


Agenda

Wharton Marketing Club 2

• Interview Basics: What interviewers are looking for

• Anatomy of a CPG/marketing interview1. Resume walk-through2. Behavioral questions: “Tell me about a time…”3. Product, Brand, Campaign/ Ad Questions 4. Case example5. Industry/ Company-Specific Questions6. Questions to ask the Interviewer

• Next steps– Things to do– Timeline– Interview etiquette/tips – Q&A


INTERVIEW BASICS


What are the Interviewers Looking For?


• Background, Fit and Skills– Resume walk-through– Why Marketing/Brand Management, etc.?– Why this company?– Why CPG/Tech/Healthcare/Retail?– Leadership/Cross-functional teamwork examples– Analytical/Creative thinking examples

• Personality and Presence– Cultural fit– Energy/enthusiasm– Evidence of “passion for consumer”

Be prepared! Know the brands, recent news on the company,

whether they call themselves ABMs or AMMs, names of

people you met, etc.


Anatomy of a Marketing Interview


• Varying duration/ structures– OCR will be in McNeil Building– One on one, two on one, one round, back to back, multiple rounds etc.

• Components1. Resume Walk-Through2. Behavioral Questions3. Product, Brand, Campaign/ Ad Questions4. Case Question / Ad Critique5. Industry/ Company- Specific Questions6. Questions for Interviewer

Key to success: Structure!


1. RESUME WALK-THROUGH“Tell me about yourself…”


Resume Walk-Through


• As always, use structure – be sure your description of each job/school experience sets up the next story– Be concise but tell your story (2-3 minutes max)

• Recruiters want to know– How you got to where you are today– How your skills, experiences and motivations relate to the job. Even if

you are a career switcher, it is possible to talk about your experiences in “marketing speak” and highlight relevant skills

• Talk about transition points – why did you make certain choices/ decisions?

• Be prepared to discuss everything on your resume


2. BEHAVIORAL QUESTIONS“Tell me about a time…”


Behavioral Questions


• Past behavior is the best predictor of future behavior. • Techniques to Answer: STAR & CAR Frameworks (next slide)• Be ready with multiple rich stories for key attributes• Be sure to focus on what YOU did, and how your actions helped

achieve a goal• Key Areas of Focus:

• Keep answers to 2 minutes in length (maximum 3 minutes)

• Leadership • Teamwork• Strategic Thinking• Analytical Problem Solving• Interpersonal Skills

• Planning & Organization • Creativity• Motivation• Failures / Successes• Strengths / Weaknesses


STAR & CAR Frameworks


• Situation: Be brief! No more than 2-3 sentences• Task: 1-2 sentence summary of goal / objective• Action: What YOU did (not “we” or “my team”).

– Be clear about how your actions helped to achieve a goal• Result: Focus on results! Results can include:

– Sales / margin growth– Competitive advantage– Change in overall strategy– Personal growth (e.g. new skill gained, lesson learned)

• CAR = Context, Action, Result

• Where possible, quantify your results• Remove all jargon (unless marketing/role specific)


Behavioral Question Examples


• How would your co-worker / learning team member describe you?• Strengths / Weaknesses• Tell me about a time when you…

– Failed / made a decision that you later regretted– Were successful in a team as a leader/follower– Handled a difficult person / conflict on your team– Persuaded a group of people to follow/Led by influence– Worked on different projects at the same time and how you handled it– Adapted to a new environment– Dealt with pressure– Used data to make a decision / to convince someone about something– Had to analyze a large set of data to make a decision


Behavioral Question Matrix


• Create a matrix with key stories from your educational and professional career that highlight specific skills sets

• Same story can apply to multiple skills

Category Story LeadershipCross-

functional teams

Project Mgmt

Creative skills

Conflict Management

Analytic skills

Strategic skills

School Captain of team

WorkManaged

an associate

Extra-curricular

Worked on a

conference


3. PRODUCT QUESTIONS

Includes product, brand, campaign/ ad questions


Product Questions


• Consider the underlying consumer insight• Pick products that lends themselves to talking about 4 Ps

– How you answer is more important than which product you pick – Don’t feel that you must address all 4 Ps if only 3 are relevant

• Pick a successful product but not one that is too popular• Have at least 3 good/bad product examples prepared so that you can

tailor these depending on interview– Pick products that can be used across multiple questions– How would you improve it?

• Be aware of macro consumer trends• Avoid:

– Products within category where company has product– Competitor products– Products discussed in Lunch n’ Learns or class discussions


Product Question Examples


• What is your favorite/least favorite product? How would you turn it around?• Tell me about an unsuccessful product launch. What would you have done

differently?• What is a brand you are passionate about? What are its weak spots?• Tell me about a recent campaign that you liked? Why?• Tell me about a recent packaging innovation• What is a (new) brand or product that is marketed well?• What is a brand or product you feel is not marketed well?

• Note: The interviewer could turn this into a case question: “Okay, now pretend you’re the Brand Manager for that business. What do you do?”


Ad Critique Example


AttentionImmediately grabbed my attention – why is half of the page blank?

BrandingTrop50 is clearly shown on the pack, but the Tropicana logo is much smaller: Might be relying too heavily on pack/colors to link to brand

CommunicationPrimary message: Great taste, half the sugar Secondary message: Fresh ingredients, no artificial sweeteners

DetailsTarget audiencePublication

Executive DecisionWould you run this ad?


4. CASE QUESTIONS


Case Questions


• What is a case / scenario question? – Recruiters want to assess your skills and abilities for the particular position. They

want to see thought processes & attention to detail. • Techniques to Answer:

– Demonstrate your understanding of marketing concepts and approaches to problems

– Gives companies a chance to gain insight into your strategic thinking process– Clear, concise and logical thinking is key

• Marketing Frameworks– 5Cs (Context, Consumer, Company, Competitors, Collaborators)– STP (Segmenting, Targeting, Positioning) – 4Ps (Product, Price, Place, Promotion)

Note: Case questions for Strategy positions are typically similar to Consulting case questions, and should be prepped accordingly. Refer to the MBACM website and Consulting Club for interview resources.


Case Question Tips


• Think before you speak• Ask any clarifying questions upfront but then make assumptions as

you proceed through the case • Start with the consumer! Then think through the marketing

frameworks• Follow the 3 C’s:

– Clear– Concise– Complete

• Go beyond “textbook” answers• Focus on impact on the business / bottom-line• Which cross-functionals would you use to show you’ve done your

homework on the role


Types of Case Questions


Question Response Framework

New Product Launch

• Start with consumer – do they want / need product?• Assess the opportunity (4Cs)• Choose consumer target and positioning (STP)• Determining marketing strategy (4Ps)

Declining Sales

• Determine whether: i) general category decline vs. ii) share decline on brand

• Determine WHY category / brand decline is occurring• If category decline, create strategy to increase

category usage (e.g. more usage occasions, increase amount used per occasion)

• If brand decline, analyze marketing strategy (4Ps) and determine strategy to reverse decline

Consider:• Brand’s positioning (value vs. premium)• Consumer price elasticity • Cost structure

Pricing

Source: Adapted from Clorox Case Interviewing Companion


Types of Case Questions (Cont’d)



Defend Against New Competitor

• Assess threat to determine whether you need to defend• If you need to defend, possible strategies include:

— Reinforce equity— Product upgrade (add benefit to match competition)— Encourage product loading via promotion

• Track new product performance after launch

Private Label Competitor • Build your equity • Manage the price gap• Introduce a value brand / portfolio management



Types of Case Questions (Cont’d)




Evaluating Advertising • Does the ad get your attention?• Who is the target? Is ad relevant to target? Is channel

appropriate?• What is the benefit the ad is communicating? • What is the reason to believe?• Is it ownable? Is brand differentiated from the

competitive set?• Is the ad campaign-able?• Does the ad reinforce your brand’s equity? • Adcritic website contains TV and print ads

Product Evaluation (e.g. packaging, marketing plan, media / consumer targets)

• STP• Think about the consumer

• 4P

Brand-ABLE FrameworkAttentionBenefitLinkageEquity


Case Question Examples


• Our company is considering launching a new product. How would you think about this opportunity?

• Our competitor has just launched a new product. How should we respond?

• How would you market Product X?• Product X is losing market share to private label competitors. How should

we respond? • How would you estimate the total number of cheeseburgers consumed

annually in the US? (market sizing)


5. INDUSTRY & COMPANY-SPECIFIC QUESTIONS


Example Questions


• Industry-Specific Questions– Identify macro-trends affecting the industry– What are the major challenges and opportunities within the industry?– Tip: Conduct online and in-person research (i.e. store visits)– Tip: Sign up for industry resources– Tip: Lean on your hot group!

• Company-Specific Questions– What brand would you divest or acquire? – Favorite/least favorite brand within the company?– Be prepared to say how to improve your favorites or turn-around least

favorites– What does our company do well or poorly?– Questions to assess fit with culture and company values


6. QUESTIONS FOR THE INTERVIEWER


Your Questions for the Interviewer


• Have 3-4 questions prepared per interviewer– Be sure to ask about next steps in recruiting (if not already

communicated)

• Show industry / company knowledge through specific questions

• Tailor your questions to the interviewer’s title / position / experience

• Demonstrate curiosity and enthusiasm for the position

• Don’t forget that an interview is a two-way street. So it’s your turn to assess the company and the job!


Example Questions


• If you were to go back to when you first started at ABC company and give yourself some suggestions, what would you say? What will you do the same? What will you do differently?

• What are the characteristics of people who succeed in ABC company? In your view, what makes a good candidate for this position?

• Can you describe your management style? (your supervisor’s management style?)

• What’s one thing that happens at ABC company wouldn’t happen elsewhere?

• Why did you choose this industry?• Why did you choose ABC company?

Note: all of these example are generic. Great questions are specific to the company, the role, and the interviewer!


Interview Resources


• MBACM Resources– MBACM workshops and sample interview questions (MBACM website)– InterviewStream– Employer ‘Notes’ in CareerPath– Mock Interviews with 2Y Career Fellows– Fireside Chats with Second Years

• Hosted in January – invitation only, based on final interview schedule

• Marketing Club Member Resources– Interview question database– Hot groups


NEXT STEPS


Things to Do: Store Walk-Throughs


• Purpose: get a sense of a company’s products, competitors, trends in store

• Take note of the Ps– Products on display– Pricing of competitive products– Placement of products in different stores– Promotion in store and in ads

• Other things to note:– Private label, end caps, innovative packaging, products that get lost in

the shuffle, trend-spotting, signage: shelf talks, floor talk, shelf talk claim, shippers, security wraps

• Make sure to visit multiple formats: online shopping experience can be very important as well


Things to Do: Research


• Industry Resources– Google Alerts, GMA Smartbriefs, AdAge Daily, Brandweek– MBACM CPG Industry Research Page

• Advertising and Promotions– Multiple media platforms (print, digital, TV, in-store)


• Winter Break– Pay attention to advertisements: TV, Print,

Billboards, In-store, etc.– Store walk-throughs– Read, research and prepare as much as

possible– Watch out for career treks– Watch out for any deadlines over break– Parallel path enterprise recruiting efforts

• January– Continue Mock Interviews– Company-specific research– Continue hot group meetings– FRP: January 19 – January 26– Continue Enterprise Recruiting

Timeline


• November/ December– Drop cover letters & resumes

• Set up reminders for yourself so you don’t miss deadlines!

• Uploading takes time – give yourself a few hours before a deadline

• Leave time for jobs that may require to also apply through the company’s own website

– Start meeting with your hot group ASAP / conduct store visits

– Watch out for career treks– Mock Interviews (Hot Group, Mktg Club,

Career Fellows)


Interview Etiquette & Tips


• Email follow-up thank you after an interview: • Timing: within 24 hours, same day is best

• Only tell ONE company they are your first choice

• Cancel interviews if you have an offer you’d take over that job• Companies should not extend offers (verbal or written) before 5pm on Friday

1/27, and if they do, students should not cancel any FRP interviews once the schedule is final.

• If you have multiple offers (congrats!):• Please be mindful of waitlisted candidates. Don’t “sit” on an offer if you are

certain you wouldn’t accept it over another offer in-hand.

• Be yourself!

• Don’t worry! It all works out


QUESTIONS?

cpg / marketing interview prep workshop...cpg / marketing interview prep workshop november 2016...

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