AIPMM-CPM EXAM 2024/2025 NEWEST/ ACTUAL 2 EXAM VERSIONS WITH
COMPLETE 300 REAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) | ALREADY GRADED A+
type of product that is used for processing products/raw materials
- ANSWER -Industrial Products
Three types of industrial products -
ANSWER -Materials and parts
Capital
items
Supplies and
services
It is a product that is considered intangible - ANSWER -Service
A diversification strategy that moves into value chain or customers'
business - ANSWER -Vertical diversification
strategy
A strategy used to add new businesses that produce related
products or are involved in related markets and
,activities. - ANSWER -Concentric
diversification strategy
A strategy used for entirely new product in an entirely new
market - ANSWER -Conglomerate diversification
strategy
What is the stage of PLC where Product Extension typically
happens? - ANSWER -Maturity
Other term for Product life Cycle - ANSWER -Industry Life Cycle
Increase customer conversion rate is a key strategy of what stage
in PLC - ANSWER -Growth
In Maturity, what strategy to use if there is High Market Share? -
ANSWER -Defend
In Maturity, what strategy to use if there is Low Market Share? -
ANSWER -Invest or Exit
What are Porter's Decline Strategies? - ANSWER -Leadership
Niche
Harvest
Divest
,Where is chasm found? - ANSWER -Between early adopters and
pragmatists
A profitable segment looking for measurable gains and must
justify the cost of their purchase - ANSWER -
Pragmatists
A tool for portfolio management to determine the amount
investment that should be put into them - ANSWER -
Boston Consulting
Group Matrix
Strategy for Cash Cows products (High Market Share, Low Growth
Rate) - ANSWER -Hold Strategy
Strategy if you have a lot of products in the Dogs (Pets)
category (Low Market Share, Low Growth Rate) -
ANSWER -
Divest Strategy
, The degree that an economic variable changes in response to a
change in another economic variable. For
example how much library use changes according to how far an
individual must travel for library services.
ANSWER -
Elasticity
-
The set of actual of potential users/customers. - ANSWER -Market
Management process responsible for identifying, anticipating and
satisfying customer requirements profitably "Marketing is the
science and art of exploring, creating, and delivering value to
satisfy the needs of a target market at a profit. Marketing identifies
unfulfilled needs and desires. It defines, measures and quantifies
the size of the identified market and the profit potential. It
pinpoints which segments the company is capable of serving best
and it designs and promotes the appropriate products and
services." - ANSWER -Marketing
Lack of a basic requirement - ANSWER -Need
Anything that can be offered to a market that might satisfy a want
or need - ANSWER -Product
COMPLETE 300 REAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) | ALREADY GRADED A+
type of product that is used for processing products/raw materials
- ANSWER -Industrial Products
Three types of industrial products -
ANSWER -Materials and parts
Capital
items
Supplies and
services
It is a product that is considered intangible - ANSWER -Service
A diversification strategy that moves into value chain or customers'
business - ANSWER -Vertical diversification
strategy
A strategy used to add new businesses that produce related
products or are involved in related markets and
,activities. - ANSWER -Concentric
diversification strategy
A strategy used for entirely new product in an entirely new
market - ANSWER -Conglomerate diversification
strategy
What is the stage of PLC where Product Extension typically
happens? - ANSWER -Maturity
Other term for Product life Cycle - ANSWER -Industry Life Cycle
Increase customer conversion rate is a key strategy of what stage
in PLC - ANSWER -Growth
In Maturity, what strategy to use if there is High Market Share? -
ANSWER -Defend
In Maturity, what strategy to use if there is Low Market Share? -
ANSWER -Invest or Exit
What are Porter's Decline Strategies? - ANSWER -Leadership
Niche
Harvest
Divest
,Where is chasm found? - ANSWER -Between early adopters and
pragmatists
A profitable segment looking for measurable gains and must
justify the cost of their purchase - ANSWER -
Pragmatists
A tool for portfolio management to determine the amount
investment that should be put into them - ANSWER -
Boston Consulting
Group Matrix
Strategy for Cash Cows products (High Market Share, Low Growth
Rate) - ANSWER -Hold Strategy
Strategy if you have a lot of products in the Dogs (Pets)
category (Low Market Share, Low Growth Rate) -
ANSWER -
Divest Strategy
, The degree that an economic variable changes in response to a
change in another economic variable. For
example how much library use changes according to how far an
individual must travel for library services.
ANSWER -
Elasticity
-
The set of actual of potential users/customers. - ANSWER -Market
Management process responsible for identifying, anticipating and
satisfying customer requirements profitably "Marketing is the
science and art of exploring, creating, and delivering value to
satisfy the needs of a target market at a profit. Marketing identifies
unfulfilled needs and desires. It defines, measures and quantifies
the size of the identified market and the profit potential. It
pinpoints which segments the company is capable of serving best
and it designs and promotes the appropriate products and
services." - ANSWER -Marketing
Lack of a basic requirement - ANSWER -Need
Anything that can be offered to a market that might satisfy a want
or need - ANSWER -Product
