Certified Product Manager - Online Course and Exam - 280 Product Group / AIPMM With Complete Solutions
2023/2024
Characteristics of a service and example for each - Correct Answer Inseparability - Bank visit Intangibility - University Course Variability - Customer Service Perishability - Airline flight What are Kotler's 4 Market Strategies? - Correct Answer Product, place, price, promotion What are Porter's 5 forces? - Correct Answer Bargaining power of suppliers Bargaining power of customers Threat of new entrants Threat of substitute products = Competitive Rivalry The seven (7) phases of complete product life cycle (AIPMM version) - Correct Answer 1) Conceive 2) Plan 3) Develop 4) Quality 5) Launch 6) Deliver 7) Retire What are the steps of the New Product Development/Acquisition Process? - Correct Answer 1) New Product Development/ Acquisition Commercialization & Manufacturing Operations
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2) Introduction 3) Growth, Maturity, Decline 4) Withdrawal
Product/Market Expansion grid (aka: Ansoff Matrix) - Correct Answer
Write a positioning statement - Correct Answer For [target customer] who [statement of the need or opportunity] the [product name] is a [product category] that [statement of key benefit - that is, compelling reason to buy] Unlike [primary competitive alternative] our product [statement of primary differentiation] 1 / 2
Fill in the Product Life Cycle for Introduction
Marketing objective:
Competition:
Product:
Price:
Promotion:
Place: - Correct Answer Marketing objective: Gain awareness
Competition: None
Product: One
Price: Skimming or penetration
Promotion: Inform, educate
Place: Limited
Fill in the Product Life Cycle for Growth
Marketing objective:
Competition:
Product:
Price:
Promotion:
Place: - Correct Answer Marketing objective: Stress Differentiation
Competition: Growing
Product: More version
Price: Gain share, deal
Promotion: Stress competitive
Place: More outlets
Fill in the Product Life Cycle for Maturity
Marketing objective:
Competition:
Product:
Price:
Promotion:
Place: - Correct Answer Marketing objective: Maintain Brand Loyalty
Competition: Many
Product: Full product line
Price: Defend share, profit
Promotion: Remind orient difference
Place: Max outlets
Fill in the Product Life Cycle for Decline
Marketing objective:
Competition:
- / 2