AIPMM Tests Latest 2023 Graded A+

AIPMM Tests Latest 2023 Graded A+ Go To Market is a major decision point in the phase/gate model True The PEST Analysis includes political, economic, social, and technological factors True A sign, symbol, design or combination of these is known as a ____. A. Company Identifier B. Brand C. Marquee D. Trademark Brand Product Management is the process of all of the following except: A. Conceiving B. Delivering C. Servicing D. Planning Servicing Which one of these is NOT a type of product launch? A. Soft B. Full-Scale C. Minimal D. Web 2.0 Web 2.0 Printed information that appears on or with the package is____. A. Creative Labeling B. Competitive C. None of the options are correct D. Innovative labeling None of the options are correct Define Variability Quality of services depends on who provides them along with when, where, and how they are provided Define Inseparability Services cannot be separated from their providers Conducting research is a guide to action based on reality True What are the trait(s) of a convenience product Purchased frequently and immediately, low priced The order of the product lifecycle is conceive, develop, plan, qualify, deliver, launch, and retire False What is the order of the product lifecycle? Conceive, Plan, Develop, Qualify, Launch, Maximize, Retire What type of qualitative research answers the question "how is the product used?" Observation All of the following are characteristics of a specialty product except... A. High price B. Special purchase efforts C. All of the options are characteristics of a specialty product D. Few purchase locations E. Brand identification All of the options are characteristics of a specialty product When developing a roadmap a good question to ask is "what level of detail is needed?" True Pick which product mix decision answers this question: What is the number of products offered in each product line? A.Length B.Depth C.Consistency D.Width/Breadth Length What are the five primary activities in Porter's Value Chain Model? A. Outbound Logistics B. Service C. Market Research D. Inbound Logistics E. Operations F. Marketing and Sales Outbound Logistics Inbound Logistics Operations Marketing and Sales Service A unique selling proposition is memorable and repeatable True Define Perishability Cannot be stored for later sell or use When conducting qualitative research, should you recruit participants before or after determining overall objectives? After Pick which product mix decision answers this question: How many product lines are in each category? A.Consistency B.Length C.Width/Breadth D.Depth Depth If the product concept survives the business test it moves to______. Planning Define intangibility Services cannot be seen, tasted, felt, heard, or smelled before purchase The ProdBok™ is NOT a widely accepted set of strategies, methodologies, concepts, terms and activities that make up the product management and marketing domains as defined by AIPMM. False The creation of international strategies by organizations for overseas expansion and operation on a worldwide level is __________. Globalization Where is secondary research found? News articles If the product concept survives the business test, it moves to__________. Product Development Pick which product mix decision answers this question: How closely related are the various product lines? A.Depth B.Consistency C.Length D.Width/Breadth Consistency Place, Product, Promotion are part of the marketing mix. True Economic characteristics in the PEST analysis include all of the following except___. A.Trade policies and economic trends B.General and product specific taxation issues C.Market routes, trade and distribution trends D.Interest and exchange rates Trade policies and economic trends Sales tools are a key deliverable in marketing False A balanced scoreboard (BSC) includes financial, learning, customer, and business process metrics. A.True B.False True Interest and exchange rates with funding, grants and initiatives are all part of the Political characteristics in the PEST analysis. A.True B.False False The cash cow is in what strategy of the Boston consulting Group Matrix (BCGM)? A.Build Strategy B.Divest strategy C.Harvest strategy D.None of the options are correct None of the options are correct Compelling messages consist of______. Unique selling proposition Quality as a product and service attribute is defined as the ____. Ability of a product to perform its function A good or service offered by an organization which affords a bundle of benefits both objective (physical) and subjective (image) to the user is known as a _________. Product Porter's competitive forces include(s)_____. 1. Bargaining power of customers 2. Bargaining power of suppliers 3. Threat of new entrants 4. threat of substitute products 5. Level of competition in industry A business model allows managers to focus on value creation. True Primary research is NOT __________. A. Qualitative B. Conducted to meet an exact research need C. Collection of data from competitor web sites D. Personalized questions Collection of data from competitor web sites What type of qualitative research answers the question "how is the product presented and sold?" Mystery Shopping Pick which product mix decision answers this question: In how many different product categories does the company have an offering? A.Width/Breadth B.Length C.Depth D.Consistency Width/Breadth What type of qualitative research answers the question "what are the beliefs people hold about the product?" In-depth Interviews The Opportunities in SWOT include the following. A.Unique characteristics, competence, innovation and technology development B.Import, export, innovation and technology development, strategic alliances, partnerships, and product development C.Innovation and technology development, strategic alliances, partnerships, product development, and disadvantages Import, export, innovation and technology development, strategic alliances, partnerships, and product development Situational analysis referred to as SWOT includes all of the following except. A.Target market B.Strengths C.Opportunities D.Threats Target Market A gate is described as __________. A decision point The final step of conducting qualitative research is __________. Create action steps Telephone and online surveys are examples of quantitative research. True The strengths in SWOT are __________. Experience, knowledge, competence and capabilities Product Life Cycle Management is the process of managing the entire life cycle of a product including its conception, planning, construction, testing, manufacturing, introduction, delivery, and withdrawal. True A Consumer product is a classification of a product that is bought by final consumers for personal consumption. True A phase is described as __________. A stage, consisting of concurrent prescribed activities The following are attributes of the product-market expansion grid: A.All of the options are correct B.Market penetration and market development C.Diversification D.New product and product development All of the options are correct A sign, symbol, design or combination of these is known as a ____. Brand Define variability Quality of services depends on who provides them along with when, where, and how they are provided Define perishability Services cannot be stored Decline is the first stage where the product is profitable. False The following are trait(s) of a convenience product: Purchased frequently and immediately, low priced Loss of key staff is part of the Risks (Threats) in the SWOT. False A business model is a framework that describes the rationale of how an organization creates, delivers and captures value. True A balanced scoreboard (BSC) includes financial, learning, customer, and business process metrics. True Situational analysis referred to as SWOT includes all of the following except... Target market Commercialization is the process of withdrawing a new product from the market. False What is the number of products offered in each product line? Length What are the five primary activities in Porter's Value Chain Model? Inbound Logistics Outbound Logistics Operations Marketing and Sales Service The company's mission statement is a public expression of the organization's purpose. True What type of qualitative research answers the question "how do people interact with the product?" Observation Ethical issues are part of the Social aspect in the PEST analysis. True Printed information that appears on or with the package is____. A.None of the options are correct B.Creative labeling C.Innovative labeling D.Competitive None of the options are correct The following is NOT a con of the BCG Growth-share matrix. Firms can lose money while holding a large market share. Primary research is NOT __________. Collection of data from competitor web sites Define Intangibility Services cannot be seen, tasted, felt, heard, or smelled before purchase The Opportunities in SWOT include the following. Innovation and technology development, strategic alliances, partnerships, product development, and disadvantages Select the correct order for the international product and services process: W. Address service offering challenges X. Address packaging challenges Y. Decide how much to standardize or adapt Z. Decide which products and services to introduce. Z, Y, X, W Pick which product mix decision answers this question: How closely related are the various product lines? A.Consistency B.Width/Breadth C.Length D.Depth Consistency Interest and exchange rates with funding, grants and initiatives are all part of the Political characteristics in the PEST analysis. False Define Inseparability. Services cannot be separated from their providers Which one of these is NOT a type of product launch? Web 2.0 Marketing Mix includes the following. Price, people, position, physical proof, promotion, product and place Economic characteristics in the PEST analysis include all of the following except___. Trade policies and economic trends All of the following are characteristics of a specialty product except... A.Few purchase locations B.Brand identification C.High price D.Special purchase efforts E.All of the options are characteristics of a specialty product All of the options are characteristics of a specialty product The following are reasons for a business case include __________. Dedicated resources are working on the highest value opportunities What are the four support activities in the value chain model? Technology, procurement, firm infrastructure and human resource management The McKinsey Seven-S-Framework includes the following __________. Skills, staff, style, systems, structure and strategy Hard factors 1. strategy - how to shape vision and strategy of the company 2. structure - right org chart, right roles and responsibilities identified 3. systems - systems and processes in place to support change or strategy Soft factors 4. skills - right core competencies to achieve change or strategy put in place. May mean additional training or new resources to help support required skills or competencies needed. 5. staff - right staff 6. style - rules and standards observed by staff 7. Shared values New Product development in the product life cycle includes the following phases except: Launch The cash cow is in what strategy of the Boston consulting Group Matrix (BCGM)? A.Harvest strategy B.None of the options are correct C.Build Strategy D.Divest strategy None of the options are correct - Hold is the answer Sales Tools are a key deliverable in marketing. False The PEST Analysis includes political, economic, social, and technological factors. True Attributes, packaging, labeling, branding, and support services are part of the individual product decision. True Define Variability. Quality of services depends on who provides them and when, where, and how they are provided The business position and market attractiveness is part of the GE-McKinsey Matrix. False Innovation potential is part of the Social trait in the PEST analysis. False One of the key deliverables in product marketing includes _____. A.Whitepapers B.Product Branding C.Promotion D.All of the options are correct E.Business Intelligence All of the options are correct Special life cycles include all of the following except: A.Fads B.Growth C.Style D.Fashion Growth Select the correct order for the international product and services process: W. Address service offering challenges X. Address packaging challenges Y. Decide how much to standardize or adapt Z. Decide which products and services to introduce. A. Y, W, Z, X B. X, Z, W, Y C. Z, X, Y, W D. Z, Y, X, W Z, Y, X, W The Opportunities in SWOT include the following. A.Innovation and technology development, strategic alliances, partnerships, product development, and disadvantages B.Import, export, innovation and technology development, strategic alliances, partnerships, and product development C.Unique characteristics, competence, innovation and technology development Import, export, innovation and technology development, strategic alliances, partnerships, and product development The following are attributes of the product-market expansion grid: A.New product and product development B.Diversification C.Market penetration and market development D.All of the options are correct All of the options are correct All of the following are characteristics of a specialty product except... A.High price B.All of the options are characteristics of a specialty product C.Few purchase locations D.Brand identification E.Special purchase efforts All of the options are characteristics of a specialty product Marketing Mix includes the following. A.Price, people, process, physical proof, promotion, product and place B.Place, product, promotion, products, people and price C.Process, purpose, promotion, product, price, people and place D.Price, people, position, physical proof, promotion, product and place Price, people, process, physical proof, promotion, product and place One of the benefits of using the phase-gate process is__________. Faster time to market Pick which product mix decision answers this question: What is the number of products offered in each product line? Length The Boston Consulting Group (BCG) matrix helps______. (Select all that apply) A. As a tool for portfolio management B. Decide which products will be successful C. Highlight when products are due for review D. Predict when to create new products for new markets As a tool for portfolio management Highlight when products are due for review Conducting research is a guide to action based on reality. True What is value chain management? Management of the process to optimize design, production, marketing, sales, deliveries, and product support to capture and deliver value. Which of the following is NOT a phase in the product life cycle? Package Product Management is the process of all of the following except: A. Planning B. Servicing C. Delivering D. Conceiving Servicing Which of the following is NOT a type of product process? A. Waterfall B. Roadmapping C. Chaos D. Agile Chaos Printed information that appears on or with the package is____. A. Competitive B. Creative labeling C. Innovative labeling D. None of the options are correct None of the options are correct Special life cycles include all of the following except: A. Style B. Fads C. Growth D. Fashion Growth All of the following are characteristics of a specialty product except... A. Special purchase efforts B. Few purchase locations C. All of the options are characteristics of a specialty product D. Brand identification E. High price All of the options are correct The following is NOT a con of the BCG Growth-share matrix. A. Firms can lose money while holding a large market share. B. Growth rate is only one aspect of industry attractiveness C. High Industry growth is not always good D. Quickly completed matrix Quickly completed matrix Quickly completed matrix is not a con of the BCG Growth-Share matrix. The BCG Growth-Share matrix is a strategic tool used to evaluate a company's portfolio of businesses or products and determine which areas require more investment and which should be divested or managed for harvest. Some of the cons of the BCG Growth-Share matrix Pick which product mix decision answers this question: How many product lines are in each category? A. Length B. Width/Breadth C. Depth D. Consistency Depth Pick which product mix decision answers this question: How closely related are the various product lines? A. Length B. Depth C. Width/Breadth D. Consistency Consistency One of the key deliverables in product marketing includes _____. A. All of the options are correct B. Business Intelligence C. Product Branding D. White Papers E. Promotion All of the options are correct Pick which product mix decision answers this question: What is the number of products offered in each product line? A. Length B. Width/Breadth C. Consistency D. Depth Depth Stretching the product line lengthens it beyond the current range, and it can be upwards and/or downwards. True