AIPMM Certified Product Manager Exam Prep (Goods and
Services Module)- Latest Update
Product - ✔✔A good or service offered by an organization which affords a bundle of benefits,
both objective and subjective, to a user.
Goods - ✔✔Physical products.
Can be durable, nondurable, or finished. Opposed to services based on tangibility.
Durable goods - ✔✔Physical goods used over an extended time. Think metal, wood, hard plastic
construction.
Nondurable goods - ✔✔Perishable goods that can be destroyed or do not have long shelf lives.
Made from material other than metal, wood, or hard plastics.
Finished goods - ✔✔Goods ready for immediate sale. Doesn't require further processing.
Consumer products - ✔✔Broad category of products. Everyday products that are consumables.
Bought by final consumers for personal consumption.
Can include Convenience products, Shopping products, Specialty products, and Unsought
products.
Examples: razors, paper towels.
Convenience products - ✔✔An example of a consumer product.
Products that are purchased frequently and immediately. They are low-priced, sold using mass
advertising, and can be bought at many purchase locations. They usually have higher margins.
, Examples: packaged salads, toilet paper rolls.
Shopping products - ✔✔An example of a consumer product.
Products that are purchased less frequently. They are higher-priced, have fewer purchase
locations, and consumers usually comparison-shops.
Examples: cars, homes.
Specialty products - ✔✔An example of a consumer product.
Products that are purchased infrequently and require some special effort to purchase. High-
priced, usually contain some unique characteristics, have brand identification. Usually has fewer
purchase locations. These kinds of products are unique enough or have enough special qualities
to motivate consumers to make an unusual purchase.
Example: Air Jordan 1 Origin Story :(
Unsought products - ✔✔An example of a consumer product.
Products purchased to solve a sudden problem, products of which customers are unaware, and
products that people do not necessarily think of buying.
Consumers usually don't know or think about them. Sometimes called an impulse product.
Examples: caskets, fire extinguishers.
Services Module)- Latest Update
Product - ✔✔A good or service offered by an organization which affords a bundle of benefits,
both objective and subjective, to a user.
Goods - ✔✔Physical products.
Can be durable, nondurable, or finished. Opposed to services based on tangibility.
Durable goods - ✔✔Physical goods used over an extended time. Think metal, wood, hard plastic
construction.
Nondurable goods - ✔✔Perishable goods that can be destroyed or do not have long shelf lives.
Made from material other than metal, wood, or hard plastics.
Finished goods - ✔✔Goods ready for immediate sale. Doesn't require further processing.
Consumer products - ✔✔Broad category of products. Everyday products that are consumables.
Bought by final consumers for personal consumption.
Can include Convenience products, Shopping products, Specialty products, and Unsought
products.
Examples: razors, paper towels.
Convenience products - ✔✔An example of a consumer product.
Products that are purchased frequently and immediately. They are low-priced, sold using mass
advertising, and can be bought at many purchase locations. They usually have higher margins.
, Examples: packaged salads, toilet paper rolls.
Shopping products - ✔✔An example of a consumer product.
Products that are purchased less frequently. They are higher-priced, have fewer purchase
locations, and consumers usually comparison-shops.
Examples: cars, homes.
Specialty products - ✔✔An example of a consumer product.
Products that are purchased infrequently and require some special effort to purchase. High-
priced, usually contain some unique characteristics, have brand identification. Usually has fewer
purchase locations. These kinds of products are unique enough or have enough special qualities
to motivate consumers to make an unusual purchase.
Example: Air Jordan 1 Origin Story :(
Unsought products - ✔✔An example of a consumer product.
Products purchased to solve a sudden problem, products of which customers are unaware, and
products that people do not necessarily think of buying.
Consumers usually don't know or think about them. Sometimes called an impulse product.
Examples: caskets, fire extinguishers.
