Product Mgmt Certification (AIPMM) | UPDATED Questions with 100% Verified Answers

Product Mgmt Certification (AIPMM) | UPDATED Questions with
100% Verified Answers

Question: What is the #1 reason for new product failure?

Answer:
Weak value proposition and/or differentiation

Question: What are other reasons for new product failure?

Answer:
Insufficient up-front homework, lack of customer input, scope creep, functional silos, lack of focus, lack of
competency




Question: What are the four "Ps" of Marketing?

Answer:
Product, Price, Place, Promotion

Question: What is Promotion?

Answer:
How to market the product

Question: What is Place?

Answer:
Channel we sell product to customers on

Question: What is Price?

Answer:
Pricing strategy i.e. chargebacks

Question: What does a product lifecycle management include?

Answer:

,1) Determining likely models for each product (understanding potential revenue and cash flow patterns) 2)
Identifying when product needs support, redesign, renewal, withdrawal

Question: What are the benefits of product life cycle management?

Answer:
1) Provides input to strategic marketing planning and portfolio management 2) Provides insight into tactical
requirements

Question: Best to what and on what drives product success?

Answer:
Best to market, on time

Question: What drives on-time launch?

Answer:
Cross-functional teams

Question: What drives profitability?

Answer:
Unique, superior product quality

Question: What are the 7 keys to successful product management?

Answer:
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

Question: What is a product manager typically more focused on?

Answer:
Marketing-focused and externally-facing

Question: What is a product owner typically more focused on?

Answer:
Engineering-focused and internally-facing

Question: How do a Project Manager and Product Manager role differ?

Answer:
A project manager should manage work. A product manager should manage assets.

, Question: What is the best measure of progress for software products?

Answer:
Working software

Question: What is one important thing sprint retros can be used for?

Answer:
Coming back to story point estimates and looking at how to improve forecasting for future sprints

Question: What are the responsibilities of a Product Manager?

Answer:
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

Question: What are the responsibilities of the Product Owner?

Answer:
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

Question: What are the basic product lifecycle stages?

Answer:
1) Introduction 2) Growth 3) Maturity 4) Decline

Question: What is market share?

Answer:
The portion of a market controlled by a particular company or product (how much of the market you own).
Y-axis

Question: What is market growth?

Answer:
How fast new customers are coming into a particular market. X-axis

Question: What is an example of a question mark product? (Google product line)

Answer:
Google Play