CPM PRACTICE TEST QUESTIONS
AND ANSWERS
Commercialization is the process of withdrawing a new product from the market. -
Correct Answers -False
Primary research is NOT __________. - Correct Answers -Collection of data from a
competitor websites
Go To Market is a major decision point in the phase/gate model. - Correct Answers -
True
Sales Tools are a key deliverable in marketing. - Correct Answers -False
Conducting research is a guide to action based on reality. - Correct Answers -True
Where is secondary research found? - Correct Answers -Customer Interviews
Interest and exchange rates with funding, grants and initiatives are all part of the
Political characteristics in the PEST analysis. - Correct Answers -False
A phase is described as __________. - Correct Answers -A stage, consisting of
concurrent, prescribed activities
A business model is a framework that describes the rationale of how an organization
creates, delivers and captures value. - Correct Answers -True
Compelling messages consist of______. - Correct Answers -Features and benefits
Ethical issues are part of the Social aspect in the PEST analysis. - Correct Answers -
True
Stretching the product line lengthens it beyond the current range, and it can be upwards
and/or downwards. - Correct Answers -True
Pick which product mix decision answers this question:
How closely related are the various product lines? - Correct Answers -Consistency
, What type of qualitative research answers the question "how is the product used?" -
Correct Answers -Observation
What type of qualitative research answers the question "what are the beliefs people
hold about the product?" NOT focus groups - Correct Answers -
The PEST Analysis includes political, economic, social, and technological factors. -
Correct Answers -True
What is value chain management? - Correct Answers -Management of the process to
optimize design, production, marketing, sales, deliveries, and product support to capture
and deliver value.
The Opportunities in SWOT include the following. - Correct Answers -Innovation and
technology development, strategic alliances, partnerships, product development, and
disadvantages
The business position and market attractiveness is part of the GE-McKinsey Matrix. -
Correct Answers -False
What are the four support activities in the value chain model? - Correct Answers -
Define Intangibility. - Correct Answers -Services cannot be seen, tasted, felt, heard, or
smelled before purchase
The cash cow is in what strategy of the Boston consulting Group Matrix (BCGM)? -
Correct Answers -Build Strategy (Check answer)
Marketing mix includes the following - Correct Answers -process, purpose, promotion,
product, price, people and place (check answer)
the McKinsey Seven-S-Framework includes the following: - Correct Answers -Strategy,
social, structure, systems, style and staff (check answer)
Product Management is the process of all of the following except: - Correct Answers -
Servicing
Define Perishability. - Correct Answers -Quality of services depends on who provides
them along with when, where, and how they are provided
Special life cycles include all of the following except: - Correct Answers -Growth
The company's mission statement is a public expression of the organization's purpose. -
Correct Answers -True
AND ANSWERS
Commercialization is the process of withdrawing a new product from the market. -
Correct Answers -False
Primary research is NOT __________. - Correct Answers -Collection of data from a
competitor websites
Go To Market is a major decision point in the phase/gate model. - Correct Answers -
True
Sales Tools are a key deliverable in marketing. - Correct Answers -False
Conducting research is a guide to action based on reality. - Correct Answers -True
Where is secondary research found? - Correct Answers -Customer Interviews
Interest and exchange rates with funding, grants and initiatives are all part of the
Political characteristics in the PEST analysis. - Correct Answers -False
A phase is described as __________. - Correct Answers -A stage, consisting of
concurrent, prescribed activities
A business model is a framework that describes the rationale of how an organization
creates, delivers and captures value. - Correct Answers -True
Compelling messages consist of______. - Correct Answers -Features and benefits
Ethical issues are part of the Social aspect in the PEST analysis. - Correct Answers -
True
Stretching the product line lengthens it beyond the current range, and it can be upwards
and/or downwards. - Correct Answers -True
Pick which product mix decision answers this question:
How closely related are the various product lines? - Correct Answers -Consistency
, What type of qualitative research answers the question "how is the product used?" -
Correct Answers -Observation
What type of qualitative research answers the question "what are the beliefs people
hold about the product?" NOT focus groups - Correct Answers -
The PEST Analysis includes political, economic, social, and technological factors. -
Correct Answers -True
What is value chain management? - Correct Answers -Management of the process to
optimize design, production, marketing, sales, deliveries, and product support to capture
and deliver value.
The Opportunities in SWOT include the following. - Correct Answers -Innovation and
technology development, strategic alliances, partnerships, product development, and
disadvantages
The business position and market attractiveness is part of the GE-McKinsey Matrix. -
Correct Answers -False
What are the four support activities in the value chain model? - Correct Answers -
Define Intangibility. - Correct Answers -Services cannot be seen, tasted, felt, heard, or
smelled before purchase
The cash cow is in what strategy of the Boston consulting Group Matrix (BCGM)? -
Correct Answers -Build Strategy (Check answer)
Marketing mix includes the following - Correct Answers -process, purpose, promotion,
product, price, people and place (check answer)
the McKinsey Seven-S-Framework includes the following: - Correct Answers -Strategy,
social, structure, systems, style and staff (check answer)
Product Management is the process of all of the following except: - Correct Answers -
Servicing
Define Perishability. - Correct Answers -Quality of services depends on who provides
them along with when, where, and how they are provided
Special life cycles include all of the following except: - Correct Answers -Growth
The company's mission statement is a public expression of the organization's purpose. -
Correct Answers -True
