AIPMM Certified Product Manager Exam Prep
(Goods and Services Module) questions with accurate
answers
Capital items Ans✓✓✓ An example of an industrial product.
Expensive, long-lasting, infrequently purchased. Technical in nature,
training is required to use them. Usually require commitment to buy, and
are available only in special places.
Example: such as a building or a specialized machine set or warehouse
for operations, or a long-term agreement for data warehousing services.
Industrial robots, networking technology.
Consumer products Ans✓✓✓ Broad category of products. Everyday
products that are consumables. Bought by final consumers for personal
consumption.
Can include Convenience products, Shopping products, Specialty
products, and Unsought products.
Examples: razors, paper towels.
Convenience products Ans✓✓✓ An example of a consumer product.
, Products that are purchased frequently and immediately. They are low-
priced, sold using mass advertising, and can be bought at many purchase
locations. They usually have higher margins.
Examples: packaged salads, toilet paper rolls.
Differences between goods and services Ans✓✓✓ - Goods are tangible
while services are intangible (patents don't protect services for example)
- Customers participate in many service processes, activities, and
transactions (requires interaction with customer)
- Demand for services is more difficult to predict than the demand for
goods (heterogeneous, based on attitudes of customer and server)
- Services cannot be stored as physical inventory (perishable)
- Services are a package of features that affect five senses
Downmarket product line stretching Ans✓✓✓ When a brand is
represented in the upper-premium market but wants to introduce a
lower-end product range in the lower market, either by using its existing
name or starting a new branding process.
Durable goods Ans✓✓✓ Physical goods used over an extended time.
Think metal, wood, hard plastic construction.
Features of a service package Ans✓✓✓ Supporting facility: location,
decoration, layout, architectural appropriateness, supporting equipment
(Goods and Services Module) questions with accurate
answers
Capital items Ans✓✓✓ An example of an industrial product.
Expensive, long-lasting, infrequently purchased. Technical in nature,
training is required to use them. Usually require commitment to buy, and
are available only in special places.
Example: such as a building or a specialized machine set or warehouse
for operations, or a long-term agreement for data warehousing services.
Industrial robots, networking technology.
Consumer products Ans✓✓✓ Broad category of products. Everyday
products that are consumables. Bought by final consumers for personal
consumption.
Can include Convenience products, Shopping products, Specialty
products, and Unsought products.
Examples: razors, paper towels.
Convenience products Ans✓✓✓ An example of a consumer product.
, Products that are purchased frequently and immediately. They are low-
priced, sold using mass advertising, and can be bought at many purchase
locations. They usually have higher margins.
Examples: packaged salads, toilet paper rolls.
Differences between goods and services Ans✓✓✓ - Goods are tangible
while services are intangible (patents don't protect services for example)
- Customers participate in many service processes, activities, and
transactions (requires interaction with customer)
- Demand for services is more difficult to predict than the demand for
goods (heterogeneous, based on attitudes of customer and server)
- Services cannot be stored as physical inventory (perishable)
- Services are a package of features that affect five senses
Downmarket product line stretching Ans✓✓✓ When a brand is
represented in the upper-premium market but wants to introduce a
lower-end product range in the lower market, either by using its existing
name or starting a new branding process.
Durable goods Ans✓✓✓ Physical goods used over an extended time.
Think metal, wood, hard plastic construction.
Features of a service package Ans✓✓✓ Supporting facility: location,
decoration, layout, architectural appropriateness, supporting equipment
