2023 AIPMM CPM Product Management
Certification With NGN
Product Management - Answer process of conceiving, planning, developing, testing,
launching, delivery and withdrawing products in the market.
PMF - Product Management Framework - Answer Product lifecycle (Product
Development + Commercialization) stages plus their phases and gates.
PMF Benefits (5) - Answer 1. define common language
2. provides standards for launching a products in each phase
3. allows product teams to develop and communicate mutual product plan
commitments
4. empowers product team to execute based upon agreed upon objectives and
schedules
5. facilitates continuous improvements to products and processes.
Prodbok (body of knowledge) - Answer strategies, methodologies, concepts, terms
and activities that make up the product mgmt. and marketing domains as defined by
AIPMM. Applies to any product or portfolio, across industries, throughout each phase
of the product lifecycle.
*Facilitate screening - evaluating new product ideas to reduce them into a smaller
set.
Y-Axis Key players on a product team (8) - Answer 1. Product Manager
2. Product Mktg. Manager
3. Project Manager
4. Business Analyst
5. Dev Manager
6. QA MAnager
7. Customer Support Mgr.
8. Sales Manager
X/Y - Answer X=time
Y=your focus
XY cell = details of your focus at that time
Y-Axis Knowledge Areas (5) - Answer 1. Business
2. Market
3. Customer
4. Product
5. Organization
Product Life Cycle - PLC - Answer Manages stages that products go through from
development to withdrawal from market. Helps you take the right action at the right
time. Integrates people, data, processes and business system
New Product Development + Commercialization
Product Life Cycle Characteristics - Answer 1. Determines if each product has a
different life cycle
2. Determines revenue earned
3. Contributes to strategic marketing plan
Product Life Cycle Benefits - Answer 1. helps forecast and manage cash flow
2. helps identify when a product needs support, redesign, reinvigorated, or
withdrawn.
3. helps in new product development and planning
Product Portfolio - Answer range of products a company has in development or
available for marketplace at one time
Business Portfolio - Answer collection of businesses and products that make up a
company.
Portfolio Analysis - Answer tool which helps mgmt. identify and evaluate the various
businesses which make up the company
, Strategic Business Unit - Answer unit of the company that has a separate mission
and objectives and that can be planned independently from other company
businesses
New Product Development (NPD) - 1st half of PMF - Answer complete process of
bringing a new product to market. Includes first 4 steps - conceive, plan, develop,
qualify. For:
1. new product in new markets
2. new product in existing markets not previously
targeted 3. enhance current product in existing product
line.
*2 parallel paths = idea generation, product design, and detail engineering + market
research and analysis
NPD New Product Development Steps (4) - 1st half of PMF - Answer 1. conceive
2. plan
3. develop
4. qualify
Key Deliverables in conceive and plan phase (7) - Answer 1. Strategic Plan
2. Competitive analysis
3. Market Trends
4. Mktg requirements doc
5. Business Case
6. Product Requirements doc
7. Product roadmap
Key deliverables in Develop and test phase (5) - Answer 1. Marketing strategy
2. Beta program
3. Launch plan
4. Marketing plan
5. Product Retirement plan
Acquisition - Answer act or process by which ownership is achieved by:
1. acquiring brand/product
2. purchase entire company
3 ways to get new product - Answer 1. develop
2. acquire
3. license
Commercialization - 2nd half stage of PMF - Answer process of introducing a new
product into the market
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