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AIPMM - CPM Practice Exam
Questions With Verified Answers
Mission Statement-correct-answer-The statement of a company's purpose; its
reason for
existence.
Penetration Pricing-correct-answer-setting a low initial price on a new product to
appeal immediately to the mass market
Portfolio Analysis-correct-answer-An analysis of the components of a company's
product and service mix to determine the optimum allocation of its resources
Product-correct-answer-Can be either tangible or intangible. Tangible products
have a physical presence. Intangible products lack a physical presence. Regardless
of tangibility, products are purchased by consumers to meet needs and wants.
Product Life Cycle-correct-answer-The evolutionary steps a product passes
through beginning with market introduction and ending with decline.
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Product Line Extension-correct-answer-The creation of new products in the same
category
using the existing brand name.
Product Lines-correct-answer-A group of products, categorized by a business unit
or company that are closely related because they function in a similar manner, are
sold to
the same customer groups, are marketed through the same types of outlets, or
fall within given price ranges.
Product Management-correct-answer-The organizational function within a
company dealing
with the thoughtful and proactive management of a product or group of products
throughout all stages and phases of the product management lifecycle
Product Management Lifecycle-correct-answer-An integrated framework of stages
and
phases that all successful products must progress through.
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Product Manager-correct-answer-An individual whose organizational
responsibility is to
create and maintain the optimal amount of value for a product or group of
products throughout the entire product management lifecycle
Product Marketing Manager-correct-answer-An individual that is primarily tasked
with
helping define and manage a product's image in the market. Product Marketing
Managers bring increased focus to "go-to-market" activities by supporting
customer acquisition and in-market activities during the Launch and Deliver
phases of the product management lifecycle.
Product Portfolio-correct-answer-The entire range of products and services
developed and
distributed to consumers by an organization
Product Roadmap-correct-answer-The visual representation of a series of planned
product
development activities illustrating future product releases on either a calendar
or rolling-year basis.
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Qualify Phase-correct-answer-The fourth phase of the product management
lifecycle, which
outlines the steps that need to be taken to ensure that the product is ready to
launch.
Services-correct-answer-Intangible products sold to meet a customer's needs.
Value Proposition-correct-answer-A statement that summarizes the value a
customer will
receive by buying and using a product in comparison to other available
options
Product Manager-correct-answer-Individual responsible for getting product onto
shelves
Product Marketing Manager-correct-answer-Individual responsible for getting
product off of shelves
AIPMM - CPM Practice Exam
Questions With Verified Answers
Mission Statement-correct-answer-The statement of a company's purpose; its
reason for
existence.
Penetration Pricing-correct-answer-setting a low initial price on a new product to
appeal immediately to the mass market
Portfolio Analysis-correct-answer-An analysis of the components of a company's
product and service mix to determine the optimum allocation of its resources
Product-correct-answer-Can be either tangible or intangible. Tangible products
have a physical presence. Intangible products lack a physical presence. Regardless
of tangibility, products are purchased by consumers to meet needs and wants.
Product Life Cycle-correct-answer-The evolutionary steps a product passes
through beginning with market introduction and ending with decline.
,2|Page
Product Line Extension-correct-answer-The creation of new products in the same
category
using the existing brand name.
Product Lines-correct-answer-A group of products, categorized by a business unit
or company that are closely related because they function in a similar manner, are
sold to
the same customer groups, are marketed through the same types of outlets, or
fall within given price ranges.
Product Management-correct-answer-The organizational function within a
company dealing
with the thoughtful and proactive management of a product or group of products
throughout all stages and phases of the product management lifecycle
Product Management Lifecycle-correct-answer-An integrated framework of stages
and
phases that all successful products must progress through.
,3|Page
Product Manager-correct-answer-An individual whose organizational
responsibility is to
create and maintain the optimal amount of value for a product or group of
products throughout the entire product management lifecycle
Product Marketing Manager-correct-answer-An individual that is primarily tasked
with
helping define and manage a product's image in the market. Product Marketing
Managers bring increased focus to "go-to-market" activities by supporting
customer acquisition and in-market activities during the Launch and Deliver
phases of the product management lifecycle.
Product Portfolio-correct-answer-The entire range of products and services
developed and
distributed to consumers by an organization
Product Roadmap-correct-answer-The visual representation of a series of planned
product
development activities illustrating future product releases on either a calendar
or rolling-year basis.
, 4|Page
Qualify Phase-correct-answer-The fourth phase of the product management
lifecycle, which
outlines the steps that need to be taken to ensure that the product is ready to
launch.
Services-correct-answer-Intangible products sold to meet a customer's needs.
Value Proposition-correct-answer-A statement that summarizes the value a
customer will
receive by buying and using a product in comparison to other available
options
Product Manager-correct-answer-Individual responsible for getting product onto
shelves
Product Marketing Manager-correct-answer-Individual responsible for getting
product off of shelves
