ck
PRODUCT MANAGEMENT
CERTIFICATION (AIPMM)
lo
QUESTIONS WITH DETAILED
ANSWERS // 100%
yc
GUARANTEED PASS
A+ GRADED
ud
st
,What is the #1 reason for new product failure? - ANS Weak value proposition and/or
differentiation
What are other reasons for new product failure? - ANS Insufficient up-front homework, lack of
customer input, scope creep, functional silos, lack of focus, lack of competency
What are the four "Ps" of Marketing? - ANS Product, Price, Place, Promotion
What is Promotion? - ANS How to market the product
What is Place? - ANS Channel we sell product to customers on
ck
What is Price? - ANS Pricing strategy i.e. chargebacks
What does a product lifecycle management include? - ANS 1) Determining likely models for
each product (understanding potential revenue and cash flow patterns) 2) Identifying when
product needs support, redesign, renewal, withdrawal
lo
What are the benefits of product life cycle management? - ANS 1) Provides input to strategic
marketing planning and portfolio management 2) Provides insight into tactical requirements
Best to what and on what drives product success? - ANS Best to market, on time
yc
What drives on-time launch? - ANS Cross-functional teams
What drives profitability? - ANS Unique, superior product quality
ud
What are the 7 keys to successful product management? - ANS 1) Customer focus 2)
Front-end loaded 3) Positioning 4) Product strategy and roadmap 5) CFT 6) Investment
mind-set 7) Metrics, accountability, and continuous improvement
What is a product manager typically more focused on? - ANS Marketing-focused and
externally-facing
st
What is a product owner typically more focused on? - ANS Engineering-focused and
internally-facing
How do a Project Manager and Product Manager role differ? - ANS A project manager should
manage work. A product manager should manage assets.
What is the best measure of progress for software products? - ANS Working software
What is one important thing sprint retros can be used for? - ANS Coming back to story point
estimates and looking at how to improve forecasting for future sprints
, What are the responsibilities of a Product Manager? - ANS 1) To be market/customer-facing
2) To be collocated and typically reports to marketing/business 3) Focuses on market segments,
portfolio, positioning and ROI 4) Collaborates with POs 4) Owns the vision 5) Drives the release
What are the responsibilities of the Product Owner? - ANS 1) To be product/technology-facing
2) To be collocated & typically reports to development/technology 4) Focuses on product and
implementation technology 5) Collaborates with PdMs 4) Owns the implementation 5) Drives the
iteration
What are the basic product lifecycle stages? - ANS 1) Introduction 2) Growth 3) Maturity 4)
Decline
ck
What is market share? - ANS The portion of a market controlled by a particular company or
product (how much of the market you own). Y-axis
What is market growth? - ANS How fast new customers are coming into a particular market.
X-axis
lo
What is an example of a question mark product? (Google product line) - ANS
What is an example of a star product? (Google product line) - ANS Youtube
Google Play
yc
What is an example of a cash cow product? (Google product line) - ANS Google Search
What is an example of an out to pasture/dog product? (Google product line) - ANS Orkut
(Google Social Network)
ud
What is a Star product? - ANS Product that is a "star" in its market because it holds market
share and there is potential for growth in its market. Still continuously innovating to meet market
demands and to differentiate
What is a Question Mark product? - ANS Product that has low market share but has a high
st
potential for market growth. We aren't certain yet about its customer segmentation because we
are still listening to the market. Still in investment phase.
BUILD strategy.
What is a Cash Cow product? - ANS Product that holds share & margins in its market, but
there is little potential for growth there. Important to reduce investment/costs here and invest in
Star products.
HOLD strategy.
What is a product that is Out to Pasture (Dog) - ANS Product that has low market share or
potential for market growth. Needs to be carefully considered for viability.
PRODUCT MANAGEMENT
CERTIFICATION (AIPMM)
lo
QUESTIONS WITH DETAILED
ANSWERS // 100%
yc
GUARANTEED PASS
A+ GRADED
ud
st
,What is the #1 reason for new product failure? - ANS Weak value proposition and/or
differentiation
What are other reasons for new product failure? - ANS Insufficient up-front homework, lack of
customer input, scope creep, functional silos, lack of focus, lack of competency
What are the four "Ps" of Marketing? - ANS Product, Price, Place, Promotion
What is Promotion? - ANS How to market the product
What is Place? - ANS Channel we sell product to customers on
ck
What is Price? - ANS Pricing strategy i.e. chargebacks
What does a product lifecycle management include? - ANS 1) Determining likely models for
each product (understanding potential revenue and cash flow patterns) 2) Identifying when
product needs support, redesign, renewal, withdrawal
lo
What are the benefits of product life cycle management? - ANS 1) Provides input to strategic
marketing planning and portfolio management 2) Provides insight into tactical requirements
Best to what and on what drives product success? - ANS Best to market, on time
yc
What drives on-time launch? - ANS Cross-functional teams
What drives profitability? - ANS Unique, superior product quality
ud
What are the 7 keys to successful product management? - ANS 1) Customer focus 2)
Front-end loaded 3) Positioning 4) Product strategy and roadmap 5) CFT 6) Investment
mind-set 7) Metrics, accountability, and continuous improvement
What is a product manager typically more focused on? - ANS Marketing-focused and
externally-facing
st
What is a product owner typically more focused on? - ANS Engineering-focused and
internally-facing
How do a Project Manager and Product Manager role differ? - ANS A project manager should
manage work. A product manager should manage assets.
What is the best measure of progress for software products? - ANS Working software
What is one important thing sprint retros can be used for? - ANS Coming back to story point
estimates and looking at how to improve forecasting for future sprints
, What are the responsibilities of a Product Manager? - ANS 1) To be market/customer-facing
2) To be collocated and typically reports to marketing/business 3) Focuses on market segments,
portfolio, positioning and ROI 4) Collaborates with POs 4) Owns the vision 5) Drives the release
What are the responsibilities of the Product Owner? - ANS 1) To be product/technology-facing
2) To be collocated & typically reports to development/technology 4) Focuses on product and
implementation technology 5) Collaborates with PdMs 4) Owns the implementation 5) Drives the
iteration
What are the basic product lifecycle stages? - ANS 1) Introduction 2) Growth 3) Maturity 4)
Decline
ck
What is market share? - ANS The portion of a market controlled by a particular company or
product (how much of the market you own). Y-axis
What is market growth? - ANS How fast new customers are coming into a particular market.
X-axis
lo
What is an example of a question mark product? (Google product line) - ANS
What is an example of a star product? (Google product line) - ANS Youtube
Google Play
yc
What is an example of a cash cow product? (Google product line) - ANS Google Search
What is an example of an out to pasture/dog product? (Google product line) - ANS Orkut
(Google Social Network)
ud
What is a Star product? - ANS Product that is a "star" in its market because it holds market
share and there is potential for growth in its market. Still continuously innovating to meet market
demands and to differentiate
What is a Question Mark product? - ANS Product that has low market share but has a high
st
potential for market growth. We aren't certain yet about its customer segmentation because we
are still listening to the market. Still in investment phase.
BUILD strategy.
What is a Cash Cow product? - ANS Product that holds share & margins in its market, but
there is little potential for growth there. Important to reduce investment/costs here and invest in
Star products.
HOLD strategy.
What is a product that is Out to Pasture (Dog) - ANS Product that has low market share or
potential for market growth. Needs to be carefully considered for viability.
