Product Mgmt Certification (AIPMM) Exam Questions with Correct Answers Already Passed

What is the #1 reason for new product failure? - ANSWER ️️Weak value proposition and/or differentiation What are other reasons for new product failure? - ANSWER ️️Insufficient up-front homework, lack of customer input, scope creep, functional silos, lack of focus, lack of competency What are the four "Ps" of Marketing? - ANSWER ️️Product, Price, Place, Promotion What is Promotion? - ANSWER ️️How to market the product What is Place? - ANSWER ️️Channel we sell product to customers on What is Price? - ANSWER ️️Pricing strategy i.e. chargebacks What does a product lifecycle management include? - ANSWER ️️1) Determining likely models for each product (understanding potential revenue and cash flow patterns) 2) Identifying when product needs support, redesign, renewal, withdrawal What are the benefits of product life cycle management? - ANSWER ️️1) Provides input to strategic marketing planning and portfolio management 2) Provides insight into tactical requirements Best to what and on what drives product success? - ANSWER ️️Best to market, on time