As OOB (out-of-band) networks can't be adjusted for TCO reasons for years (or decades), one does typically configure a management VLAN - what is in-band, but in a dedicated broadcast domain, with a dedicated subnet, ...
Somehow this question and the idea to deploy a random "invalid" IP reminds me to the users asking on how to make a managed switch behave like an unmanaged one.
The M3400-12x12 does provide either OOB management, the in-band CPU management access can be disabled, limiting the access to the the switch CPU for GUI, telnet etc. via the 1G service port if you have a separate management network. Further on you can deploy Management ACLs for protecting inband access (for instance, restricting HTTP GUI access to certain IP addresses or subnets, restricting Telnet to certain other IP addresses, etc.).
