AIPMM CPM flashcards
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33 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Product-Market Fit
- The state where a product satisfies strong market demand, evidenced by organic growth, low churn, and customers willing to pay and refer without heavy promotion.
- Value Proposition
- A statement combining the target segment, the underserved need, the differentiated benefit delivered, and the proof that the offer beats alternatives.
- Total Addressable Market
- The total revenue opportunity if a product captured every possible customer in its defined market, used to bound strategic opportunity before narrowing to serviceable segments.
- Product Lifecycle Stages
- Introduction, growth, maturity, and decline. Each stage implies different pricing, promotion, investment, and feature strategies for the product.
- Product Manager vs Product Owner
- The product manager owns strategy, market fit, and outcomes; the product owner owns backlog order, requirement clarity, and sprint-level prioritization for the delivery team.
- Prioritization by Expected Value
- Rank initiatives by expected value divided by effort, where expected value equals impact times confidence times reach, producing a defensible ordered backlog.
- Three Horizons of Product Work
- Strategy answers why and what, planning answers when and who, execution answers how; product management balances all three continuously rather than sequentially.
- Serviceable Obtainable Market
- The portion of the addressable market a firm can realistically reach and win given its channels, geography, and competitive position in the near term.
- Concept Statement
- A short description naming the target user, the need addressed, the product form, the key benefit, and the reason to believe it works.
- Concept Test
- Research conducted before development that measures purchase intent, liking, uniqueness, and believability of a concept statement among target customers.
- Minimum Viable Product
- The smallest build that tests the riskiest assumption with real users, with success criteria defined before the test begins.
- Riskiest Assumption Test
- A method that identifies the assumption whose failure would invalidate the concept, then designs the cheapest experiment that could disprove it.
- Stage-Gate Process
- A phased development model where cross-functional gate reviews at each phase boundary decide to pass, kill, hold, or recycle the project.
- Validation Evidence Hierarchy
- Evidence strength rises from opinion to stated intent to simulated purchase to real pre-order to repeat purchase; stronger evidence justifies larger investment.
- Voice of Customer Interview
- Open-ended research asking customers about past behavior and real problems rather than hypothetical future purchases, reducing stated-intent bias.
- Idea Funnel
- The sequence from ideation through screening, concept development, concept testing, business analysis, development, testing, and launch, narrowing options at each step.
- Business Case Analysis
- A pre-development assessment of expected revenue, cost, margin, risk, and strategic fit used to justify or reject continued investment in a concept.
- Scope Triangle
- The constraint model where scope, time, and cost are interdependent; changing one forces adjustment in another, and quality suffers if all are fixed.
- Critical Path
- The longest sequence of dependent tasks in a schedule; it determines minimum project duration, and delays on it delay the whole project.
- Definition of Done
- A shared checklist of criteria a work item must satisfy before it counts as complete, preventing partially finished work from accumulating.
- Now-Next-Later Roadmap
- A roadmap organized by confidence horizon: now is committed, next is planned, later is exploratory, avoiding false precision in distant dates.
- User Story Format
- A requirement written as a role, a desired capability, and a benefit, expressing user value rather than implementation detail.
- Launch Readiness Gate
- A pre-launch checkpoint confirming legal, pricing, support, documentation, and go-to-market assets are complete before general availability.
- Risk Register
- A log scoring each identified risk by probability times impact, with an assigned owner, mitigation action, and trigger for escalation.
- Cash Runway
- The number of months a firm can operate before cash runs out, calculated as cash on hand divided by net monthly burn rate.
- BCG Growth-Share Matrix
- A portfolio tool classifying products as stars, cash cows, question marks, or dogs by market growth rate and relative market share.
- Cash Cow
- A product with high relative share in a low-growth market that generates surplus cash used to fund stars and question marks.
- Cannibalization
- A new product taking sales from an existing product in the same portfolio; acceptable when incremental margin exceeds the margin lost.
- Product Line Extension
- A new variant added within an existing product category, such as a new size or flavor, leveraging existing brand and distribution.
- Brand Extension
- Using an established brand name to enter a new product category, trading brand equity for faster acceptance and lower launch cost.
- Customer Lifetime Value
- The total margin expected from a customer over the relationship, typically average margin per period times retention periods, minus acquisition cost.
- Churn Rate
- The proportion of customers lost during a period, calculated as customers lost divided by customers at the start of the period.
- Product Retirement Criteria
- Conditions justifying discontinuation: declining margin, rising support cost, security or compliance exposure, or misalignment with portfolio strategy.