Product Management Program Quiz 1

Product Management Quiz 1

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1. Which of the following best describes the primary role of a product manager?

Handling all marketing activities for the product

Managing the sales team to ensure maximum revenue

Defining the product vision, strategy, and roadmap

Leading the engineering team in coding product features

2. What is the most critical reason for conducting market research in product management?

To justify the budget allocation for the product team

To increase the company’s social media engagement

To understand customer needs, market trends, and competition

To develop a marketing strategy before launching a product

3. Which phase of the product lifecycle is characterized by rapid revenue growth and increased competition?

Maturity

Decline

Introduction

Growth

4. A good way to identify customer pain points is by:

Copying the features of a successful competitor

Conducting customer interviews and surveys

Making assumptions based on competitor products

Relying solely on internal team discussions

5. What is the primary purpose of a Minimum Viable Product (MVP)?

To test core functionalities with minimal investment

To launch the product with full features

To maximize short-term profits

To avoid customer feedback before development

6. Which of these is NOT a core responsibility of a product manager?

Writing production-ready code

Setting the strategic vision for the product

Gathering customer insights

Defining and prioritizing features

7. Why is competitor analysis important in product management?

It helps copy features directly from competitors

It identifies gaps and differentiators in the market

It removes the need for customer feedback

It ensures that pricing remains identical to competitors

8. Which of the following is a key component of conducting market research?

Developing the product first, then researching market fit

Internal brainstorming sessions only

Analyzing user data and industry reports

Ignoring competitors’ strategies

9. Which metric is most relevant when evaluating the success of a product in the market?

Number of features released

Total number of team members working on the product

Frequency of internal product team meetings

Customer acquisition cost and retention rate

10. A product manager prioritizing features should focus on:

Stakeholder requests over customer needs

Features that provide the most value to users and align with business goals

Features that are the easiest to build

Releasing as many features as possible, regardless of impact

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Product Management Program Quiz 1

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