AIPMM CPM COMPREHENSIVE REVIEW GUIDE
WITH SCENARIOS AND VERIFIED ANSWERS
UPDATED 2026
◉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
WITH SCENARIOS AND VERIFIED ANSWERS
UPDATED 2026
◉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
