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

Customer journey mapping visualizes every touchpoint a customer has with a product or company, revealing pain points, emotions, and opportunities at each stage.

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

The Kano Model categorizes features as basic needs, performance needs, or delighters to help teams prioritize what will most improve customer satisfaction.

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

Churn rate measures the percentage of customers who leave or stop paying over a defined period, indicating problems with retention and customer value delivery.

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

Stated preferences reflect what customers claim they want, while revealed preferences show what they actually choose — relying solely on stated preferences can mislead product decisions.

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

Cohort analysis groups users by a shared attribute (e.g., signup date) and tracks their behavior over time, revealing retention trends and the impact of product changes.

CPM - Certified Product Manager Practice Test

CPM - Certified Product Manager Practice Test

CPM Market Research and Customer Insights 3