AIPMM CPM Certification Exam Questions with Complete Solutions

AIPMM CPM Certification Exam Questions with Complete Solutions Product lifecycle stages - ANSWER 1. Introduction 2. Growth 3. Maturity 4. Decline Product manager - ANSWER Product Managers investigate, select, and drive the development of products for an organization, performing the activities or product mgmt. Product Marketing Manager - ANSWER Act as the voice of customer to the rest of the product team and company. Business Model - ANSWER Framework that describes the rationale of how an org. creates, delivers, and captures value Reasons for business model - ANSWER Describe & classify businesses Explore opportunities Public reporting purposes Allows managers to focus on value creation Business Case - ANSWER Supports planning & decision making - whether to buy, which product to bring to market, which vendor to choose, when to implement Captures reasoning for creating/enhancing Business cases are evaluated to ensure - ANSWER 1. Investment has value and importance 2. Project will be properly managed 3. Organization has capability to deliver the benefits 4. Resources are working on highest value opportunities 5. Projects with inter-dependencies are started in optimum sequence Levels of a product - ANSWER 1. Core - benefit 2. Actual - Product appearance - design, brand, packaging, quality, functionality 3. Extended product - Payment terms, delivery, warranty, Maintenance & care, on site service, education/training Characteristics of a service - ANSWER intangible, perishable, variable, inseparable Product lifecycle phases - ANSWER Conceive, plan, develop, qualify, launch, deliver, retire Name 5 key deliverables during product lifecycle and the phases they are important - ANSWER Strategic plan, competitive analysis, market trends, MRD, business case, PRD, product roadmaps, marketing strategic plan, Beta program plan, launch plan, marketing plan, end of life plan