AIPMM - CPM PRACTICE EXAM WITH CERTIFIED SOLUTIONS

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AIPMM - CPM PRACTICE EXAM WITH CERTIFIED SOLUTIONS Nature and characteristic of a service ✔✔intangibility inseparability variability perishability What are the 4 Kotler's Market Strategies? ✔✔Product Price Promotion Place What are Porter's 5 forces? ✔✔Intensity of Competitive Rivalry Threat of New Entrants Threat of Substitute Bargaining Power of Customers Bargaining Power of Suppliers What are the 7 phases of PLC? ✔✔Conceive Plan Develop Qualify Launch Deliver Retire What are the steps of NPD? (Phases) ✔✔Conceive Plan Develop Qualify What is the strategy for existing market/existing product? (Ansoff's Growth Matrix) ✔✔Market Penetration What is the strategy for existing market/new product? (Ansoff's Growth Matrix) ✔✔Product Development What is the strategy for NEW market/existing product? (Ansoff's Growth Matrix) ✔✔Market Development What is the strategy for new market/new product? (Ansoff's Growth Matrix) ✔✔Diversification Market Objective: Gain awareness Competition: None Product: One Price: Skimming/Penetration Promotion: Educate/Inform Place: Limited ✔✔Introduction Market Objective: Stress differentiation Competition: Growing Product: More version Price: Gain market share Promotion: Competitive differences Place: more outlets ✔✔Growth Market Objective: Maintain brand loyalty Competition: Many Product: Full Price: Defend market share Promotion: Reminder oriented Place: Max outlets ✔✔Maturity Market Objective: Harvest/Deletion Competition: Reduced Product: Best Sellers Price: Stay profitable Promotion: Reduced Place: Few ✔✔Decline Owns strategy Market expert Business case dev expert Presents needs ✔✔Product Manager roles Market strategy Marketing expert Supports sales Guides marketing program ✔✔Product Marketing Manager roles What are the 3 types of organizing roadmaps? ✔✔Themes Golden Features Timed Releases What are the 3 special lifecyles? ✔✔Styles Fad Fashion What are the three aspects of the whole product? ✔✔Core Actual Product Augmented It is tangible or intangible. ✔✔Product definition It is type of product that the end user consume ✔✔Consumer Type of product that is purchased frequently ✔✔Convenience Type of product that is purchased less frequently and requires the comparison shopping ✔✔Shopping Type of product that high priced and focused on brand differentiation/identification ✔✔Specialty type of product that consumers dont want to think about ✔✔Unsought type of product that is used for processing products/raw materials ✔✔Industrial Products Three types of industrial products ✔✔Materials and parts Capital items Supplies and services It is a product that is considered intangible ✔✔Service It is a group of closely related products that shares the similar attributes and target markets ✔✔Product line Describe product decision where you are filling in the product line ✔✔Create products beyond the current range of products Describe product decision where you are stretching in the product line ✔✔Create products beyond the within range of products Examples of product line extension ✔✔Hidden Valley and Farm House BMW What are the 4 parameters involved in Product Mix decisions? ✔✔width, length, depth, consistency A commonly used growth-share framework that categorizes products within a company's portfolio according to growth rate, market

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