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Exam (elaborations)

AIPMM- CPM EXAM QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS)
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AIPMM- CPM EXAM QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS)

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  • December 8, 2023
  • 27
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • aipmm cpm exam questions and correct an
  • aipmm cpm exam questions and correct
  • aipmm cpm exam questions

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  • AIPMM- CPM EXAM
  • AIPMM- CPM EXAM
  • AIPMM- CPM EXAM
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AIPMM- CPM EXAM 2023-2024 QUESTIONS AND
CORRECT ANSWERS(VERIFIED ANSWERS)

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.

X-Axis PLC Stages (6) - ANSWER- 1. New product dev/acquisition
2. introduction
3. growth/maturity/decline
4. withdrawal
5. commercialization
6. manufacturing operations

X-Axis phases of PLC (7) - ANSWER- *go/no-go gates between each phases
1. conceive
2. plan
3. develop
4. qualify (test)
5. launch
6. delivery
7. retire

Phases - ANSWER- prescribed, concurrent activities in PLC
cross-functional
gate precedes each phase
successive phases require more resource commitment

Gates - ANSWER- decision points (go, no go, Hold, Recycle)

,QC checkpoints
Investment control checkpoints

*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

Commercialization phases (3) - 2nd half stage of PMF - ANSWER- 1. launch
2. deliver

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