The math should be: It would increase the daily revenue from tourists & shoppers by $8,000. My formula is (10,000 parking spots) * ($5 per spot) - $42,000 (the original revenue from tourists and shoppers). Store owner revenues would decrease by $2,000 = (750 permits) * ($240 per permit/30 days per month) - $8,000 (the original revenue from store owners) The total change in total daily revenue = + $6,000 A good candidate will recognize that the increase of 12% in daily revenues is a positive move forward.
In addition to the more obvious ideas if different pricing packages and collaboration with the store, I came up with some other ideas for the parking lot case. Like a recommendation bonus if you refer it to someone where you get 1 day parking free or something from the shopping center. I also thought about implementing extra security to the parking spaces with a security guard or cameras to make sure that also wealthy customers with expensive cars want to park there compared to not having these safety measures. I also thought about E charging stations on the parking lot as this is very valued by customers and also rare. I would also offer loyalty discounts long term to create a stronger bond with the customers to guarantee they come back and don’t park somewhere else. With each case I think about the customer first.
You are correct. The math should say it would increase the daily revenue from tourists & shoppers by $8,000. My formula is (10,000 parking spots) * ($5 per spot) - $42,000 (the original revenue from tourists and shoppers). Store owner revenues would decrease by $2,000 = (750 permits) * ($240 per permit/30 days per month) - $8,000 (the original revenue from store owners) The total change in total daily revenue = + $6,000 A good candidate will recognize that the increase of 12% in daily revenues is a positive move forward. Thanks for pointing this out!
Thank you for your comment! We're glad you found our video informative. Be sure to check out our Master Consulting Case Interview playlist: ruclips.net/p/PLSZXI1eOuSUv4dWkGkv5j3-tj6pYD5cwQ. There you'll find a collection of case videos that provide more in-depth information on how to solve different types of cases. Thanks for watching!
That's correct! The math should be: It would increase the daily revenue from tourists & shoppers by $8,000. My formula is (10,000 parking spots) * ($5 per spot) - $42,000 (the original revenue from tourists and shoppers). Store owner revenues would decrease by $2,000 = (750 permits) * ($240 per permit/30 days per month) - $8,000 (the original revenue from store owners) The total change in total daily revenue = + $6,000 A good candidate will recognize that the increase of 12% in daily revenues is a positive move forward.
You are correct. The math should say it would increase the daily revenue from tourists & shoppers by $8,000. My formula is (10,000 parking spots) * ($5 per spot) - $42,000 (the original revenue from tourists and shoppers). Store owner revenues would decrease by $2,000 = (750 permits) * ($240 per permit/30 days per month) - $8,000 (the original revenue from store owners) The total change in total daily revenue = + $6,000 A good candidate will recognize that the increase of 12% in daily revenues is a positive move forward. Thanks for pointing this out!
Thank you for watching! If you need further help with your preparation, we invite you to book a free strategy call with us here: bit.ly/3zeLAmO. Our team of experts is always here to support you in achieving your career goals.
The math should be: It would increase the daily revenue from tourists & shoppers by $8,000. My formula is (10,000 parking spots) * ($5 per spot) - $42,000 (the original revenue from tourists and shoppers).
Store owner revenues would decrease by $2,000 = (750 permits) * ($240 per permit/30 days per month) - $8,000 (the original revenue from store owners)
The total change in total daily revenue = + $6,000
A good candidate will recognize that the increase of 12% in daily revenues is a positive move forward.
In addition to the more obvious ideas if different pricing packages and collaboration with the store, I came up with some other ideas for the parking lot case.
Like a recommendation bonus if you refer it to someone where you get 1 day parking free or something from the shopping center.
I also thought about implementing extra security to the parking spaces with a security guard or cameras to make sure that also wealthy customers with expensive cars want to park there compared to not having these safety measures.
I also thought about E charging stations on the parking lot as this is very valued by customers and also rare. I would also offer loyalty discounts long term to create a stronger bond with the customers to guarantee they come back and don’t park somewhere else.
With each case I think about the customer first.
Hey thanks for sharing! Those are good ideas! With that kind of thinking, you will definitely make a good consultant.
is it just me? i couldnt listen to him at a normal speed, had to put the video on 0.75
Hey Jessika,
Thanks for watching! We appreciate your feedback and we will surely take note of it.
@@myconsultingoffer I like the speed. Most people talk too slow.
It should be a 6000 USD increase. Which would than be a 12% increase, like one person mentioned already in another comment.
You are correct. The math should say it would increase the daily revenue from tourists & shoppers by $8,000. My formula is (10,000 parking spots) * ($5 per spot) - $42,000 (the original revenue from tourists and shoppers).
Store owner revenues would decrease by $2,000 = (750 permits) * ($240 per permit/30 days per month) - $8,000 (the original revenue from store owners)
The total change in total daily revenue = + $6,000
A good candidate will recognize that the increase of 12% in daily revenues is a positive move forward.
Thanks for pointing this out!
Want to learn more types of cases such as profitability and market entry case
Thank you for your comment! We're glad you found our video informative. Be sure to check out our Master Consulting Case Interview playlist: ruclips.net/p/PLSZXI1eOuSUv4dWkGkv5j3-tj6pYD5cwQ. There you'll find a collection of case videos that provide more in-depth information on how to solve different types of cases. Thanks for watching!
there is an error in the math calculation ,, it should be a daily increase of 12% not 4%.
That's correct!
The math should be: It would increase the daily revenue from tourists & shoppers by $8,000. My formula is (10,000 parking spots) * ($5 per spot) - $42,000 (the original revenue from tourists and shoppers).
Store owner revenues would decrease by $2,000 = (750 permits) * ($240 per permit/30 days per month) - $8,000 (the original revenue from store owners)
The total change in total daily revenue = + $6,000
A good candidate will recognize that the increase of 12% in daily revenues is a positive move forward.
Wouldn’t that be a 12% increase?
You are correct. The math should say it would increase the daily revenue from tourists & shoppers by $8,000. My formula is (10,000 parking spots) * ($5 per spot) - $42,000 (the original revenue from tourists and shoppers).
Store owner revenues would decrease by $2,000 = (750 permits) * ($240 per permit/30 days per month) - $8,000 (the original revenue from store owners)
The total change in total daily revenue = + $6,000
A good candidate will recognize that the increase of 12% in daily revenues is a positive move forward.
Thanks for pointing this out!
13:18 - How is that strategy called? Comment baiting?
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it is helpful！
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Dude get ur audio fixed😢
Thank you for your suggestion!