AIPMM - CPM PRACTICE EXAM

AIPMM - CPM PRACTICE EXAM intangibility inseparability variability perishability - Answer Nature and characteristic of a service Product Price Promotion Place - Answer What are the 4 Kotler's Market Strategies? Intensity of Competitive Rivalry Threat of New Entrants Threat of Substitute Bargaining Power of Customers Bargaining Power of Suppliers - Answer What are Porter's 5 forces? Conceive Plan Develop Qualify Launch Deliver Retire - Answer What are the 7 phases of PLC? Conceive Plan Develop Qualify - Answer What are the steps of NPD? (Phases) Market Penetration - Answer What is the strategy for existing market/existing product? (Ansoff's Growth Matrix) Product Development - Answer What is the strategy for existing market/new product? (Ansoff's Growth Matrix) Market Development - Answer What is the strategy for NEW market/existing product? (Ansoff's Growth Matrix) Diversification - Answer What is the strategy for new market/new product? (Ansoff's Growth Matrix) Introduction - Answer Market Objective: Gain awareness Competition: None Product: One Price: Skimming/Penetration Promotion: Educate/Inform Place: Limited Growth - Answer Market Objective: Stress differentiation Competition: Growing Product: More version Price: Gain market share Promotion: Competitive differences Place: more outlets Maturity - Answer Market Objective: Maintain brand loyalty Competition: Many Product: Full Price: Defend market share Promotion: Reminder oriented Place: Max outlets Decline - Answer Market Objective: Harvest/Deletion Competition: Reduced Product: Best Sellers Price: Stay profitable Promotion: Reduced Place: Few Product Manager roles - Answer Owns strategy Market expert Business case dev expert Presents needs Product Marketing Manager roles - Answer Market strategy Marketing expert Supports sales Guides marketing program Themes Golden Features Timed Releases - Answer What are the 3 types of organizing roadmaps? Styles Fad Fashion - Answer What are the 3 special lifecyles? Core Actual Product Augmented - Answer What are the three aspects of the whole product? Product definition - Answer It is tangible or intangible. Consumer - Answer It is type of product that the end user consume Convenience - Answer Type of product that is purchased frequently Shopping - Answer Type of product that is purchased less frequently and requires the comparison shopping Specialty - Answer Type of product that high priced and focused on brand differentiation/identification Unsought - Answer type of product that consumers dont want to think about Industrial Products - Answer type of product that is used for processing products/raw materials Materials and parts Capital items Supplies and services - Answer Three types of industrial products Service - Answer It is a product that is considered intangible Product line - Answer It is a group of closely related products that shares the similar attributes and target markets Create products beyond the current range of products - Answer Describe product decision where you are filling in the product line