CPM Market Research and Customer Insights 3

Question 1

What is 'customer journey mapping'?

Accepted Answer

A visual representation of all customer interactions with a product from first contact to loyalty

Answer

A physical map of where customers are located

Answer

A technical diagram of API calls in the product

Answer

A Gantt chart for customer onboarding timelines

Question 2

What is a 'kano model' used for in product management?

Accepted Answer

Categorizing features by their impact on customer satisfaction to guide prioritization

Answer

Tracking sprint velocity

Answer

Measuring team performance

Answer

Mapping technical architecture

Question 3

What does 'churn rate' indicate about a product?

Accepted Answer

The percentage of customers who stop using the product over a given period

Answer

How fast new features are shipped

Answer

The rate of new customer acquisition

Answer

The speed of product loading

Question 4

Why is it important for a CPM to understand the difference between 'stated' and 'revealed' customer preferences?

Accepted Answer

Because what customers say they want and what they actually do often differ, affecting product decisions

Answer

To write better press releases

Answer

To comply with consumer protection regulations

Answer

To benchmark against competitor surveys

Question 5

What is 'cohort analysis' and how is it useful for product managers?

Accepted Answer

Grouping users by a shared characteristic over time to track behavior patterns and retention

Answer

Analyzing team performance by department

Answer

A method for grouping product features by theme

Answer

A financial analysis technique

Question 6

A CPM wants to validate a hypothesis about user behavior before a major product investment. What is the most efficient validation approach?

Accepted Answer

Design a minimum viable experiment (MVE) to test the hypothesis with minimal resources

Answer

Build the full feature and analyze post-launch data

Answer

Survey 10,000 users to get statistically significant data

Answer

Ask the executive team for their intuition