AIPMM PMM Certification Exam 2023/2024 with Complete Solutions Rated A+

Stages of product life - Correct Answer Conceive Plan Develop Qualify Launch Deliver Retire Stages of the product development process prior to a product being availalable to customers: - Correct Answer Conceive Plan Develop Qualify Ansoff Expansion Grid - Correct Answer Market penetration - sell existing products in existing market Product development - sell new products in existing market Market development - sell existing product in new market Diversification - sell new products in new market Stages of Product Life Cycle - Correct Answer Intro Growth Maturity Decline Key items for a product launch - Correct Answer Product is ready Company is ready Sales and Marketing are ready Key activities of Deliver stage: - Correct Answer Monitor sales, service, development and production Evaluate results and imp change as needed Decide when to retire/start retirement planning Special Life Cycles - Correct Answer Styles: Distinct mode of expression (popularity varies) Fashion: Current popular style (cyclical by generation) Fads: Gain rapid acceptance, decline quickly (limited market, don't address basic needs) Product Types - Correct Answer Consumer - for personal consumption Convenience - purchased frequently, used immediately Shopping - bought less frequently, comparison shop, higher price, fewer places to buy Specialty - special purchase effort, unique characteristics