AIPMM - CPM PRACTICE EXAM WITH COMPLETE
SOLUTIONS RATED A+ 2023
Nature and characteristic of a service - Correct Answer intangibility inseparability variability perishability What are the 4 Kotler's Market Strategies? - Correct Answer Product Price Promotion Place What are Porter's 5 forces? - Correct Answer Intensity of Competitive Rivalry Threat of New Entrants Threat of Substitute Bargaining Power of Customers Bargaining Power of Suppliers What are the 7 phases of PLC? - Correct Answer Conceive Plan Develop Qualify Launch Deliver Retire What are the steps of NPD? (Phases) - Correct Answer Conceive Plan Develop Qualify What is the strategy for existing market/existing product? (Ansoff's Growth Matrix) - Correct Answer Market Penetration What is the strategy for existing market/new product? (Ansoff's Growth Matrix) - Correct Answer Product Development What is the strategy for NEW market/existing product? (Ansoff's Growth Matrix) - Correct Answer Market Development What is the strategy for new market/new product? (Ansoff's Growth Matrix) - Correct Answer Diversification
Market Objective: Gain awareness
Competition: None 1 / 2
Product: One
Price: Skimming/Penetration
Promotion: Educate/Inform
Place: Limited - Correct Answer Introduction
Market Objective: Stress differentiation
Competition: Growing
Product: More version
Price: Gain market share
Promotion: Competitive differences
Place: more outlets - Correct Answer Growth
Market Objective: Maintain brand loyalty
Competition: Many
Product: Full
Price: Defend market share
Promotion: Reminder oriented
Place: Max outlets - Correct Answer Maturity
Market Objective: Harvest/Deletion
Competition: Reduced
Product: Best Sellers
Price: Stay profitable
Promotion: Reduced
Place: Few - Correct Answer Decline
Owns strategy Market expert Business case dev expert Presents needs - Correct Answer Product Manager roles Market strategy Marketing expert Supports sales Guides marketing program - Correct Answer Product Marketing Manager roles What are the 3 types of organizing roadmaps? - Correct Answer Themes Golden Features Timed Releases What are the 3 special lifecyles? - Correct Answer Styles Fad Fashion What are the three aspects of the whole product? - Correct Answer Core Actual Product
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