AIPMM - CPM PRACTICE EXAM QUESTIONS AND ANSWERS GRADED A+

intangibility inseparability variability perishability - --Nature and characteristic of a service Product Price Promotion Place - --What are the 4 Kotler's Market Strategies? Intensity of Competitive Rivalry Threat of New Entrants Threat of Substitute Bargaining Power of Customers Bargaining Power of Suppliers - --What are Porter's 5 forces? Conceive Plan Develop Qualify Launch Deliver Retire - --What are the 7 phases of PLC? Conceive PlanDevelop Qualify - --What are the steps of NPD? (Phases) Market Penetration - --What is the strategy for existing market/existing product? (Ansoff's Growth Matrix) Product Development - --What is the strategy for existing market/new product? (Ansoff's Growth Matrix) Market Development - --What is the strategy for NEW market/existing product? (Ansoff's Growth Matrix) Diversification - --What is the strategy for new market/new product? (Ansoff's Growth Matrix) Introduction - --Market Objective: Gain awareness Competition: None Product: One Price: Skimming/Penetration Promotion: Educate/Inform Place: Limited Growth - --Market Objective: Stress differentiation Competition: Growing Product: More version Price: Gain market share Promotion: Competitive differences Place: more outlets Maturity - --Market Objective: Maintain brand loyalty Competition: ManyProduct: Full Price: Defend market share Promotion: Reminder oriented Place: Max outlets Decline - --Market Objective: Harvest/Deletion Competition: Reduced Product: Best Sellers Price: Stay profitable Promotion: Reduced Place: Few