--- title: "1 Value Chain Quotes By Victor Cheng" description: "1 Value Chain quotes by Victor Cheng. Plus more from Victor Cheng and more Value Chain sayings from other authors." image: "https://sms4smile.com/quotes/i/a69/victor-cheng-3306_customer_in-the-market-you-re-analyzing-it-s-usef_2544264.jpg" --- > [“In the market you’re analyzing, it’s useful to know if there are a lot of small customers or only one or two big ones. Even if the total spending is the same, the dynamic can be quite different. Once you…](https://sms4smile.com/quotes/victor-cheng/in-the-market-you-re-analyzing-it-s-useful-to-know-if-there-are-a-lot/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) [Image](https://sms4smile.com/quotes/i/a69/victor-cheng-3306_customer_in-the-market-you-re-analyzing-it-s-usef_2544264.jpg) ## More by Victor Cheng > [“If there isn’t any obvious segmentation pattern, avoid stating the segmentation pattern you want to see. Instead, phrase your question such that the interviewer…](https://sms4smile.com/quotes/victor-cheng/if-there-isn-t-any-obvious-segmentation-pattern-avoid-stating-the/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“Consultants use four tools to solve clients’ biggest problems. You can use the exact same tools to tackle any type of case interview: Hypothesis…](https://sms4smile.com/quotes/victor-cheng/consultants-use-four-tools-to-solve-clients-biggest-problems-you-can/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“You will do one of two things as soon as you’ve exhausted what you can determine mathematically in the case: (1) Refine your hypothesis…](https://sms4smile.com/quotes/victor-cheng/you-will-do-one-of-two-things-as-soon-as-you-ve-exhausted-what-you/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“(In practice, most consultants will try up to 20 segmentation patterns and discover the most insightful one only through trial and error.)”](https://sms4smile.com/quotes/victor-cheng/in-practice-most-consultants-will-try-up-to-20-segmentation-patterns/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“the rest of the industry is experiencing some kind of growth—either more accounts or more billings per account. Is comparable data for the rest…](https://sms4smile.com/quotes/victor-cheng/the-rest-of-the-industry-is-experiencing-some-kind-of-growth-either/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“Nothing you said in your synthesis supported your point on unwinding Program B. You need to say, “After the short-term crisis has passed, it…](https://sms4smile.com/quotes/victor-cheng/nothing-you-said-in-your-synthesis-supported-your-point-on-unwinding/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“The rest of the industry appears to have grown sales by 10 percent, with profits growing proportionally. This indicates that the industry-wide profit margin…](https://sms4smile.com/quotes/victor-cheng/the-rest-of-the-industry-appears-to-have-grown-sales-by-10-percent/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“The Mergers and Acquisitions Framework You might use the mergers and acquisitions framework to address cases in which one company wants to acquire or…](https://sms4smile.com/quotes/victor-cheng/the-mergers-and-acquisitions-framework-you-might-use-the-mergers-and/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“This structure synthesizes what you know, indicates what else you need to know, and lays out your plan to address those remaining issues. Use…](https://sms4smile.com/quotes/victor-cheng/this-structure-synthesizes-what-you-know-indicates-what-else-you-need/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“the consultant’s process was the exact process consulting firms value. It was linear, logical, and based on facts (and reasonable estimates of them); it…](https://sms4smile.com/quotes/victor-cheng/the-consultant-s-process-was-the-exact-process-consulting-firms-value/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“In consulting, you always pick and choose your words carefully, because you need to be able to back up anything you say. If you…](https://sms4smile.com/quotes/victor-cheng/in-consulting-you-always-pick-and-choose-your-words-carefully-because/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“The framework consists of four key components. I draw this framework as four distinct boxes, but you could quite easily redraw it as an…](https://sms4smile.com/quotes/victor-cheng/the-framework-consists-of-four-key-components-i-draw-this-framework/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“The balanced candidate would instead numerically measure what percentage of the total decline in profits is attributable to the decline in sales versus the…](https://sms4smile.com/quotes/victor-cheng/the-balanced-candidate-would-instead-numerically-measure-what/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“At this point, it makes sense to switch to the business situation framework to understand qualitatively why sales volume in China has dropped so…](https://sms4smile.com/quotes/victor-cheng/at-this-point-it-makes-sense-to-switch-to-the-business-situation/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) > [“How Is It Packaged? Packaging refers to what products and services are sold together. For example, years ago McDonald’s noticed that many customers ordered…](https://sms4smile.com/quotes/victor-cheng/how-is-it-packaged-packaging-refers-to-what-products-and-services-are/) [Victor Cheng](https://sms4smile.com/quotes/author/victor-cheng/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/value-chain/victor-cheng/#itemlist", "name": "1 Value Chain Quotes By Victor Cheng", "numberOfItems": 1, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "“In the market you’re analyzing, it’s useful to know if there are a lot of small customers or only one or two big ones. Even if the total spending is the same, the dynamic can be quite different. Once you know how concentrated the customers are, you want to compare this to the concentration of suppliers (your client’s competitors, typically). If an enormous discrepancy in concentration exists between customers and suppliers, then whichever is more concentrated tends to have more power in the industry value chain—the link of relationships between raw-goods provider to manufacturer to retailer to consumer. 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