{"id":113508,"date":"2023-08-16T01:40:41","date_gmt":"2023-08-16T01:40:41","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=113508"},"modified":"2023-08-16T01:40:43","modified_gmt":"2023-08-16T01:40:43","slug":"aipmm-cpm-exam-2023-2024-questions-and-correct-answersverified-answers","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/08\/16\/aipmm-cpm-exam-2023-2024-questions-and-correct-answersverified-answers\/","title":{"rendered":"AIPMM- CPM EXAM 2023-2024 QUESTIONS AND CORRECT ANSWERS(VERIFIED ANSWERS)"},"content":{"rendered":"\n

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<\/p>\n\n\n\n

    \n
  1. provides standards for launching a products in each phase<\/li>\n\n\n\n
  2. allows product teams to develop and communicate mutual product plan commitments<\/li>\n\n\n\n
  3. empowers product team to execute based upon agreed upon objectives and
    schedules<\/li>\n\n\n\n
  4. 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<\/li>\n\n\n\n
  5. introduction<\/li>\n\n\n\n
  6. growth\/maturity\/decline<\/li>\n\n\n\n
  7. withdrawal<\/li>\n\n\n\n
  8. commercialization<\/li>\n\n\n\n
  9. manufacturing operations
    X-Axis phases of PLC (7) – ANSWER- *go\/no-go gates between each phases<\/li>\n\n\n\n
  10. conceive<\/li>\n\n\n\n
  11. plan<\/li>\n\n\n\n
  12. develop<\/li>\n\n\n\n
  13. qualify (test)<\/li>\n\n\n\n
  14. launch<\/li>\n\n\n\n
  15. delivery<\/li>\n\n\n\n
  16. 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)<\/li>\n<\/ol>\n\n\n\n

    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<\/p>\n\n\n\n

      \n
    1. Product Mktg. Manager<\/li>\n\n\n\n
    2. Project Manager<\/li>\n\n\n\n
    3. Business Analyst<\/li>\n\n\n\n
    4. Dev Manager<\/li>\n\n\n\n
    5. QA MAnager<\/li>\n\n\n\n
    6. Customer Support Mgr.<\/li>\n\n\n\n
    7. 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<\/li>\n\n\n\n
    8. Market<\/li>\n\n\n\n
    9. Customer<\/li>\n\n\n\n
    10. Product<\/li>\n\n\n\n
    11. 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<\/li>\n\n\n\n
    12. Determines revenue earned<\/li>\n\n\n\n
    13. Contributes to strategic marketing plan
      Product Life Cycle Benefits – ANSWER- 1. helps forecast and manage cash flow<\/li>\n\n\n\n
    14. helps identify when a product needs support, redesign, reinvigorated, or withdrawn.<\/li>\n\n\n\n
    15. 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<\/li>\n<\/ol>\n\n\n\n

      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:<\/p>\n\n\n\n

        \n
      1. new product in new markets<\/li>\n\n\n\n
      2. new product in existing markets not previously targeted<\/li>\n\n\n\n
      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<\/li>\n\n\n\n
      4. plan<\/li>\n\n\n\n
      5. develop<\/li>\n\n\n\n
      6. qualify
        Key Deliverables in conceive and plan phase (7) – ANSWER- 1. Strategic Plan<\/li>\n\n\n\n
      7. Competitive analysis<\/li>\n\n\n\n
      8. Market Trends<\/li>\n\n\n\n
      9. Mktg requirements doc<\/li>\n\n\n\n
      10. Business Case<\/li>\n\n\n\n
      11. Product Requirements doc<\/li>\n\n\n\n
      12. Product roadmap
        Key deliverables in Develop and test phase (5) – ANSWER- 1. Marketing strategy<\/li>\n\n\n\n
      13. Beta program<\/li>\n\n\n\n
      14. Launch plan<\/li>\n\n\n\n
      15. Marketing plan<\/li>\n\n\n\n
      16. Product Retirement plan
        Acquisition – ANSWER- act or process by which ownership is achieved by:<\/li>\n\n\n\n
      17. acquiring brand\/product<\/li>\n\n\n\n
      18. purchase entire company
        3 ways to get new product – ANSWER- 1. develop<\/li>\n\n\n\n
      19. acquire<\/li>\n\n\n\n
      20. 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<\/li>\n\n\n\n
      21. deliver<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

        AIPMM- CPM EXAM 2023-2024 QUESTIONS ANDCORRECT 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 (ProductDevelopment + Commercialization) stages plus their phases and gates.PMF Benefits (5) – ANSWER- 1. define common language QC checkpointsInvestment control checkpoints*Facilitate screening – […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-113508","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/113508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=113508"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/113508\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=113508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=113508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=113508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}