Product Manager Certification – AIPMM Exam Questions and Answers 100% Pass

Product Manager Certification – AIPMM Exam Questions and Answers 100% Pass Agile - Answer- An umbrella term used to describe a group of iterative incremental product development principles and methodologies that support the Agile Manifesto Agile Manifesto - Answer- A conceptual framework that emphasizes four central values and twelve supplemental principles encompassing an iterative and people orientated approach to product development. (Also called the Manifesto for Agile Software Development.) Agile Theory - Answer- Holds that Agile is designed to follow a non-linear path more closely approximated to that of new product development instead of the more predictable path of manufacturing, which typically follows a serial process. Alpha Test - Answer- Alpha test is the first formal test of a newly developed hardware or software product by internal people. The key objectives of the alpha test are functionality confirmation and bug identification. When the first round of bugs has been fixed, the product goes into beta test with actual users and customers. Ansoff Matrix - Answer- Analytical tool that helps managers to devise their product and market growth strategies Behavioral Design - Answer- Creating a cohesive conceptual model for the product that is easy to learn and understand. Behavioral design meshes the task requirements of a product with the skills, knowledge, and capabilities of the intended users. Beta Plan - Answer- Alignment around the purpose of the beta test; clarifies the goals of the testing to be performed and the logistics of how the test is to be conducted. Beta Test - Answer- A formal, structured, and controlled test of a new product or product capability in order to determine market readiness. Body of Knowledge (BOK) - Answer- A Body of Knowledge codifies the concepts, definitions, processes, and activities of a given profession. Boston Consulting Group Market-Share Matrix (BCG Matrix) - Answer- A commonly used growth-share framework that categorizes products within a company's portfolio according to growth rate, market share, and positive or negative cash flow. Boundary Role - Answer- A position or role that sits at the intersection of two points. In the case of product management, between the needs of the market and those of the organization. Brainstorming - Answer- A commonly used technique for developing creative solutions to problems or to generate new ideas. Brand - Answer- An identifying mark, label, trademark, imprint, or name that distinguishes the originator, creator, or manufacturer of a product or service. Branding - Answer- Originating, building, improving, and safeguarding a name or symbol representing a specific product or service. Brand Equity - Answer- The quality associated with a brand based on value assessed over a significant period of time; the affirmative perception of a brand or service based on customer loyalty and the positive reputation of a service or product. Brand Extension - Answer- Introducing a new or improved product by associating it with an established brand image. Brand Identity - Answer- A logo, slogan, moniker, or mark associated with a product or service by consumers that sets it apart from competitors. Brand Positioning - Answer- Optimizing a brand by having a clear concept of its strongest points and placing it among similar products to accentuate its superiority and uniqueness in relation to competitors. Burndown Chart - Answer- A visual tool used by Agile product development teams that represents the amount of work left to do versus time. Business Analysis - Answer- The practice of analyzing business needs and identifying viable solutions in order to enable organizational change and deliver value to stakeholders. Business Analyst - Answer- An individual that uses a prescribed set of business analysis tools and techniques to understand business needs and identify viable solutions that will maximize the value delivered by an organization to its stakeholders. Business Case - Answer- A well-structured document that provides the overall justification for a product or product investment and clearly demonstrates a cost benefit analysis. Buyer - Answer- A person or organization that acquires or seeks to acquire a product or service in exchange for money or some other consideration. Buyer Personas - Answer- A representation of a specific group or groups of buyers who influence or make purchasing decisions about a product. Buyer personas are used to make informed product, marketing, and sales channels decisions. Category Extension - Answer- The use of an existing or parent brand to