Case Study Prompt
ACME Bank is a big bank that issues credit cards. The bank charges an annual fee of $70 to all its customers. A retail giant has announced recently that it will roll out its credit card to customers without any annual fee. The credit card features offered by the retail giant are similar to those of ACME’s credit cards. In order to survive the expected stiff competition from the retail giant, the bank is thinking of waiving its annual fees.
The bank has approached you to seek a recommendation.
Case Study Overview
Your client in this McKinsey case study, a big bank, is considering waiving its annual fee for credit cards. You’ve been hired to advise the company on the move.
How will you structure your approach to this business case? It’s best to stay away from relying on basic frameworks – use your intuition and what you’ve learned from your case practice to formulate a custom structure!
This is an entry-level case most like a case you could expect in a first round interview at McKinsey.
McKinsey Interview Tips
What does McKinsey look for in its future consultants? They are looking for candidates with refined problem-solving skills.
Focus on coming away with 1 or 2 key areas you can improve on in your next case.
For out-loud practice with an expert, book an hour with an ex-MBB coach.
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