Product Development Practice Exam

About Product Development
Product development refers to the creation of a new product which has some utility; or up-gradation of the existing product; or enhancement of the production process, method or system. In simple words, it is all about bringing a change in the present goods or services or the mode of production.

Product development typically refers to all of the stages involved in bringing a product from concept or idea through market release and beyond. In other words, product development incorporates a product’s entire journey.

Why is Product Development important?
Product development has become an important function of every enterprise. It provides several advantages to the enterprise. Some important advantages of product development are as follows:
•    Product development helps in producing the goods and services of best quality.
•    It provides maximum possible satisfaction to the consumers.
•    It helps in expanding the market for the products.
•    It helps in achieving stability in the demand of the products.
•    It minimizes the possibilities of obsolescence of products.
•    It helps in facing competition successfully and effectively.
•    It increases the goodwill of the organization.
•    It increases profit earning possibilities of the organization.

Who should take the Product Development Exam?
•    Product management professionals
•    Business owners or Entrepreneurs
•    Innovators
•    Anyone who wants to assess their product management skills
•    Product managers and senior executives
•    Product management consultants
•    Professionals working in outsourced companies responsible for product management
•    Anyone who wants to learn the skills required for product management
•    Individuals who encounters product management within their day-to-day job
•    Newcomers to the product management industry

Knowledge and Skills required for the Product Development

Specific skills are needed to excel in career of product development which includes analytical bent of mind and quick learning skills.

Product Development Practice Exam Objectives

Product Development exam focuses on assessing your skills and knowledge in concepts and application of Product Development

Product Development Practice Exam Pre-requisite

There are no prerequisites for the Product Development exam. Candidates who are well versed  in Product Development can easily clear the exam.

Product Development Certification Course Outline

1. Product Management Basics
1.1 What is a Product
1.2 The Product Life Cycle
1.3 What is Product Management?
1.4 Stages of Product Management
1.5 Product Manager Role
1.6 Product Manager Skills

2. Product Strategy - Market Analysis
2.1 Marketing Research
2.2 Market Segmentation
2.3 Market Targeting
2.4 Market Positioning
2.5 Branding
2.6 Defining Product Strategy
2.7 Kano Model Analysis

3. Competitor Analysis
3.1 What is Competitor Analysis?
3.2 Environmental Analysis
3.3 Pestle Analysis
3.4 SWOT Analysis
3.5 Value Chain Analysis
3.6 The BCG Matrix

4. Product Definition - User Requirements Research
4.1 Factors influencing consumer behaviour
4.2 Major Psychological Processes
4.3 Consumer Buying Decision Process
4.4 Organisational Buying
4.5 Customer Data Collection and Analysis
4.6 Voice of Customer (VOC)
4.7 User Requirements
4.8 Conducting User Interviews
4.9 User or Focus Groups
4.10 Decision Making for Product Definition
4.11 Specifying the Product Definition

5. Product Design - User-Centered Design
5.1 What is User- Centered Design or UCD
5.2 UCD Characteristics
5.3 UCD Principles
5.4 User-Centered Design Process
5.5 User-Centered Design and Agile
5.6 ISO 9241 Human-Centred Design Principles

6. Product Design - Prototyping
6.1 What is a wireframe?
6.2 What is a prototype?
6.3 What is a mockup?
6.4 Prototype Categories
6.5 Prototype vs. a final product
6.6 Why to Prototype
6.7 Prototyping Components and Techniques

7. Product Development
7.1 User Personas
7.2 User stories
7.3 Scenarios
7.4 Product Requirements Document or PRD
7.5 Performing Affinity Mapping
7.6 Creating Storyboards

8. Product Testing - Usability Testing
8.1 Usability Testing Basics
8.2 Usability Testing Types
8.3 Planning a Usability Test
8.4 Usability Testing Methods
8.5 Pilot Usability Test and Moderation
8.6 Conducting Usability Test
8.7 Best Practices for Usability Testing
8.8 Heuristic Evaluation

9. Minimum Viable Product
9.1 Minimum Viable Product Basics
9.2 Purpose of MVP
9.3 MVP Elements
9.4 MVP Benefits
9.5 Developing Minimum Viable Product
9.6 Validating Minimum Viable Product
9.7 Product / Market Fit

10. Product Marketing
10.1 Product Marketing Basics
10.2 Need for Product Marketing
10.3 How to Market a Product
10.4 Product Marketing Strategy
10.5 Pricing Concepts
10.6 User Engagement
10.7 Growth Hacking

11. Product Analytics
11.1 A/B Testing
11.2 Segmentation and Funnel Analysis
11.3 Multivariate Testing
11.4 Google Analytics
11.5 Cohort Analysis
11.6 Web Analytics
11.7 Product & Engagement Analytics

Exam Format and Information
Certification name – Product Development Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199