AIPMM CPM Product Management
Certification Exam (Latest
Updates) Questions & Answers 100%
Correct {Grade A}
A company is preparing to eliminate a product from the Product Mix. They are finding
ways to cut costs to a bare minimum while trying to gain final sales to increase profit.
What method is being used?
A. Discontinue the Product
B. Harvest the Product
C. Divest the Product
D. Sell the Product - correct answer B. Harvest the Product
Harvesting is a method used to cut costs to the bare minimum while keeping the
product on the market in hopes of making a profit.
True or False: The Product Manager should take the time to communicate with all
stakeholders individually during the Launch Phase. - correct answer False
,The Product Manager does not have time to talk with each stakeholder individually.
Manage your time, prioritize communications, and strive to communicate in group
events.
Identify and describe the five key stages of a typical sales funnel. For each stage,
provide one specific tactic or action a product manager could take to move potential
customers through the funnel toward a purchase. - correct answer - Awareness: Run
targeted social media ads to reach the desired audience and introduce the product.
- Interest: Create engaging blog content or videos that highlight the product's features
and benefits.
- Consideration/Evaluation: Offer a free trial or demo to allow potential customers to
experience the product firsthand.
- Purchase/Action: Streamline the checkout process, offer multiple payment options,
and provide excellent customer support.
,- Refer or Re-engage: Implement a referral program that rewards customers for
bringing in new business.
In the Product Management Lifecycle, investment costs fluctuate depending on the
phase. Which two phases are most likely to have the highest investment costs?
A. Conceive and Plan
B. Develop and Launch
C. Qualify and Deliver
D. Maintain and Retire - correct answer B. Develop and Launch
The Develop phase involves substantial investment in product creation, while the
Launch phase requires significant resources for marketing, distribution, and initial
sales efforts.
, The marketing team determined it was time to augment the product by providing free
shipping and set-up services. What stage of the Product Lifecycle is the product likely
in?
A. Introduction
B. Decline
C. Maturity
D. Growth - correct answer C. Maturity
Product augmentation occurs in the Maturity Stage of the Product Lifecycle.
True or False: A key goal of marketing is to develop a consistent message that serves
all personas. - correct answer False
A key goal of marketing is to develop targeted messages to serve various personas.
Certification Exam (Latest
Updates) Questions & Answers 100%
Correct {Grade A}
A company is preparing to eliminate a product from the Product Mix. They are finding
ways to cut costs to a bare minimum while trying to gain final sales to increase profit.
What method is being used?
A. Discontinue the Product
B. Harvest the Product
C. Divest the Product
D. Sell the Product - correct answer B. Harvest the Product
Harvesting is a method used to cut costs to the bare minimum while keeping the
product on the market in hopes of making a profit.
True or False: The Product Manager should take the time to communicate with all
stakeholders individually during the Launch Phase. - correct answer False
,The Product Manager does not have time to talk with each stakeholder individually.
Manage your time, prioritize communications, and strive to communicate in group
events.
Identify and describe the five key stages of a typical sales funnel. For each stage,
provide one specific tactic or action a product manager could take to move potential
customers through the funnel toward a purchase. - correct answer - Awareness: Run
targeted social media ads to reach the desired audience and introduce the product.
- Interest: Create engaging blog content or videos that highlight the product's features
and benefits.
- Consideration/Evaluation: Offer a free trial or demo to allow potential customers to
experience the product firsthand.
- Purchase/Action: Streamline the checkout process, offer multiple payment options,
and provide excellent customer support.
,- Refer or Re-engage: Implement a referral program that rewards customers for
bringing in new business.
In the Product Management Lifecycle, investment costs fluctuate depending on the
phase. Which two phases are most likely to have the highest investment costs?
A. Conceive and Plan
B. Develop and Launch
C. Qualify and Deliver
D. Maintain and Retire - correct answer B. Develop and Launch
The Develop phase involves substantial investment in product creation, while the
Launch phase requires significant resources for marketing, distribution, and initial
sales efforts.
, The marketing team determined it was time to augment the product by providing free
shipping and set-up services. What stage of the Product Lifecycle is the product likely
in?
A. Introduction
B. Decline
C. Maturity
D. Growth - correct answer C. Maturity
Product augmentation occurs in the Maturity Stage of the Product Lifecycle.
True or False: A key goal of marketing is to develop a consistent message that serves
all personas. - correct answer False
A key goal of marketing is to develop targeted messages to serve various personas.
