AIPMM CPM Certification Exam All Possible Questions and Answers with complete solution

Product lifecycle stages - 1. Introduction 2. Growth 3. Maturity 4. Decline Product manager - Product Managers investigate, select, and drive the development of products for an organization, performing the activities or product mgmt. Product Marketing Manager - Act as the voice of customer to the rest of the product team and company. Business Model - Framework that describes the rationale of how an org. creates, delivers, and captures value Reasons for business model - Describe & classify businesses Explore opportunities Public reporting purposes Allows managers to focus on value creation Business Case - Supports planning & decision making - whether to buy, which product to bring to market, which vendor to choose, when to implement Captures reasoning for creating/enhancing Business cases are evaluated to ensure - 1. Investment has value and importance 2. Project will be properly managed 3. Organization has capability to deliver the benefits 4. Resources are working on highest value opportunities5. Projects with inter-dependencies are started in optimum sequence Levels of a product - 1. Core - benefit 2. Actual - Product appearance - design, brand, packaging, quality, functionality 3. Extended product - Payment terms, delivery, warranty, Maintenance & care, on site service, education/training Characteristics of a service - intangible, perishable, variable, inseparable Product lifecycle phases -Conceive, plan, develop, qualify, launch, deliver, retire