AIPMM CPM (PRODUCT MANAGEMENT
CERTIFICATION) WITH QUESTION AND CORRECT
ANSWERS 2026/2027 LATEST UPDATE
What is a product? - ANSWER-A good or service offered by an organizaiton which
affords a bundle of benefits both objective (physical) and subjective (image) to a user.
List the three different types of goods - ANSWER-Durable goods - physical goods used
over an extended time
Non-durable goods - perishable goods that can be
destroyed easily or do not have long shelf lives.
Finished goods - goods ready for immediate sale (do not require further processing)
Consumer products - ANSWER-Goods and services bought by final consumers for
personal consumption (Tide)
Convenience products - ANSWER-Purchased frequently and immediately. Low priced
mass advertising, many purchased locations. (7-11 products)
Shopping products - ANSWER-Purchased less frequently. Higher price, fewer locations,
comparison shopping. (car)
Specialty products - ANSWER-Specialty purchased effort (high price, unique
characteristics, brand identify, few locations)
1
, Unsought products - ANSWER-New innovations, consumers don't want to think about,
require much advertising & personal selling. (Coffin)
Industrial products - ANSWER-Products purchased for further processing or for use in
conduction business.
1) Material and parts - raw material, manufactured parts
2) Capital items - products that aid in buyer's production or operations
3) Supplies and services - operating supplies, repair, and maintenance items
Other product offerings - ANSWER-organizations (school), person (doctor), places
(tourism), idea (environmental campaign)
Characteristics of a service and example for each - ANSWER-Inseparability - Bank visit
Intangibility - University Course
Variability - Customer Service
Perishability - Airline flight
What are Kotler's 4 Market Strategies? - ANSWER-Product, place, price, promotion
What are Porter's 5 forces? - ANSWER-Bargaining power of suppliers
Bargaining power of customers
Threat of new entrants
Threat of substitute products
= Competitive Rivalry
The seven (7) phases of complete product life cycle (AIPMM version) - ANSWER-
1) Conceive 2) Plan
2
CERTIFICATION) WITH QUESTION AND CORRECT
ANSWERS 2026/2027 LATEST UPDATE
What is a product? - ANSWER-A good or service offered by an organizaiton which
affords a bundle of benefits both objective (physical) and subjective (image) to a user.
List the three different types of goods - ANSWER-Durable goods - physical goods used
over an extended time
Non-durable goods - perishable goods that can be
destroyed easily or do not have long shelf lives.
Finished goods - goods ready for immediate sale (do not require further processing)
Consumer products - ANSWER-Goods and services bought by final consumers for
personal consumption (Tide)
Convenience products - ANSWER-Purchased frequently and immediately. Low priced
mass advertising, many purchased locations. (7-11 products)
Shopping products - ANSWER-Purchased less frequently. Higher price, fewer locations,
comparison shopping. (car)
Specialty products - ANSWER-Specialty purchased effort (high price, unique
characteristics, brand identify, few locations)
1
, Unsought products - ANSWER-New innovations, consumers don't want to think about,
require much advertising & personal selling. (Coffin)
Industrial products - ANSWER-Products purchased for further processing or for use in
conduction business.
1) Material and parts - raw material, manufactured parts
2) Capital items - products that aid in buyer's production or operations
3) Supplies and services - operating supplies, repair, and maintenance items
Other product offerings - ANSWER-organizations (school), person (doctor), places
(tourism), idea (environmental campaign)
Characteristics of a service and example for each - ANSWER-Inseparability - Bank visit
Intangibility - University Course
Variability - Customer Service
Perishability - Airline flight
What are Kotler's 4 Market Strategies? - ANSWER-Product, place, price, promotion
What are Porter's 5 forces? - ANSWER-Bargaining power of suppliers
Bargaining power of customers
Threat of new entrants
Threat of substitute products
= Competitive Rivalry
The seven (7) phases of complete product life cycle (AIPMM version) - ANSWER-
1) Conceive 2) Plan
2
