AIPMM- CPM EXAM 2023-2024 QUESTIONS AND CORRECT ANSWERS
Product lifecycle stages - (answer) 1. Introduction
2. Growth
3. Maturity
4. Decline
Product manager - (answer) Product Managers investigate, select, and drive the development of
products for an organization, performing the activities or product mgmt.
Product Marketing Manager - (answer) Act as the voice of customer to the rest of the product team
and company.
Business Model - (answer) Framework that describes the rationale of how an org. creates, delivers,
and captures value
Reasons for business model - (answer) Describe & classify businesses
Explore opportunities
Public reporting purposes
Allows managers to focus on value creation
Business Case - (answer) Supports planning & decision making - whether to buy, which product to
bring to market, which vendor to choose, when to implement
Captures reasoning for creating/enhancing
Business cases are evaluated to ensure - (answer) 1. Investment has value and importance
2. Project will be properly managed
3. Organization has capability to deliver the benefits
4. Resources are working on highest value opportunities
5. Projects with inter-dependencies are started in optimum sequence
Levels of a product - (answer) 1. Core - benefit
, AIPMM- CPM EXAM 2023-2024 QUESTIONS AND CORRECT ANSWERS
2. Actual - Product appearance - design, brand, packaging, quality, functionality
3. Extended product - Payment terms, delivery, warranty, Maintenance & care, on site service,
education/training
Characteristics of a service - (answer) intangible, perishable, variable, inseparable
Product lifecycle phases - (answer) Conceive, plan, develop, qualify, launch, deliver, retire
Name 5 key deliverables during product lifecycle and the phases they are important - (answer)
Strategic plan, competitive analysis, market trends, MRD, business case, PRD, product roadmaps,
marketing strategic plan, Beta program plan, launch plan, marketing plan, end of life plan
Product lifecycle knowledge areas - (answer) Business, market, organization, product, customer
Marketing objective for commercialization strategies - (answer) Introduction - Gain awareness
Growth - Stress differentiation
Maturity - Maintain brand loyaly
Decline - Harvest and deletion
Product - (answer) A good or service offered by an organization which affords a bundle of benefits
both objective (physical) and subjective (image) to a user
Goods - (answer) Goods marketing relates to selling physical products - durable and nondurable
Service Goods - (answer) Rented goods services, owned-goods services, non-goods services; shared
services (consolidated and shared services by different units within an organization - finance, HR,
security)
Types of consumer products - (answer) convenience product, shopping product, specialty product,
unsought product, consumer product
Product lifecycle stages - (answer) 1. Introduction
2. Growth
3. Maturity
4. Decline
Product manager - (answer) Product Managers investigate, select, and drive the development of
products for an organization, performing the activities or product mgmt.
Product Marketing Manager - (answer) Act as the voice of customer to the rest of the product team
and company.
Business Model - (answer) Framework that describes the rationale of how an org. creates, delivers,
and captures value
Reasons for business model - (answer) Describe & classify businesses
Explore opportunities
Public reporting purposes
Allows managers to focus on value creation
Business Case - (answer) Supports planning & decision making - whether to buy, which product to
bring to market, which vendor to choose, when to implement
Captures reasoning for creating/enhancing
Business cases are evaluated to ensure - (answer) 1. Investment has value and importance
2. Project will be properly managed
3. Organization has capability to deliver the benefits
4. Resources are working on highest value opportunities
5. Projects with inter-dependencies are started in optimum sequence
Levels of a product - (answer) 1. Core - benefit
, AIPMM- CPM EXAM 2023-2024 QUESTIONS AND CORRECT ANSWERS
2. Actual - Product appearance - design, brand, packaging, quality, functionality
3. Extended product - Payment terms, delivery, warranty, Maintenance & care, on site service,
education/training
Characteristics of a service - (answer) intangible, perishable, variable, inseparable
Product lifecycle phases - (answer) Conceive, plan, develop, qualify, launch, deliver, retire
Name 5 key deliverables during product lifecycle and the phases they are important - (answer)
Strategic plan, competitive analysis, market trends, MRD, business case, PRD, product roadmaps,
marketing strategic plan, Beta program plan, launch plan, marketing plan, end of life plan
Product lifecycle knowledge areas - (answer) Business, market, organization, product, customer
Marketing objective for commercialization strategies - (answer) Introduction - Gain awareness
Growth - Stress differentiation
Maturity - Maintain brand loyaly
Decline - Harvest and deletion
Product - (answer) A good or service offered by an organization which affords a bundle of benefits
both objective (physical) and subjective (image) to a user
Goods - (answer) Goods marketing relates to selling physical products - durable and nondurable
Service Goods - (answer) Rented goods services, owned-goods services, non-goods services; shared
services (consolidated and shared services by different units within an organization - finance, HR,
security)
Types of consumer products - (answer) convenience product, shopping product, specialty product,
unsought product, consumer product
