M.S. in Product Management

Program Benefits and Overview

Experiential Learning & Online Learning

Curriculum & Industry Aligned

Multi-Faceted Curriculum

Master of Science in Product Management Curriculum (33 credits):

Merrimack’s M.S. in Product Management program addresses areas such as product innovation, design, scheduling, marketing, data science, accounting, and engineering management principles, and consists of 33 total credits. As part of this credit allocation, eight elective credits are part of a track selection of Life Sciences, Technology Products, or Software/Web/Mobile.

The curriculum is designed to help students prepare to become tomorrow’s leaders by building on their existing knowledge, plus a combination of critical skill sets that are important in establishing inter-departmental relationships, driving innovation, and building business strategy.

LEARN MORE ABOUT PRODUCT MANAGEMENT CERTIFICATES AND DEGREE PROGRAMS

M.S. in Product Management Curriculum

Business Core (Select 8 Credits)

Today’s organization makes it imperative that all functional areas of business have a basic understanding of the concepts and the foundations of marketing. Marketing is the business function that deals with the needs and wants of customers. The main objective in Concepts of Marketing is to acquire a clear understanding of the marketing function and the constant need to address changes in the business environment. Marketing is challenging, dynamic and creative and continues to play a key role in a firm’s strategy and direction making it important to decision-based management. (2 credits)

Effective writing and speaking skills are necessary for a career in management. This course is designed to help students develop a process for thinking and writing strategically. Students will learn how to analyze message, purpose, and audience; develop strategies for structure and style; construct persuasive arguments; and review for tone, organizational flow, and quality of evidence. This course will enable students to develop and demonstrate their ability to deliver formal and informal presentations and written reports in the context of addressing business challenges. Students will also learn communication strategies, principles, and methods as well as interpersonal skills that are essential for success in business. Students will have the opportunity to receive instructor and peer feedback. (2 credits)

Marketing is continually evolving. This course represents the leading edge of marketing by covering the most innovative and modern marketing practices. Topics included in this iteration of the course are: branding, experiential marketing, interactive marketing and holistic marketing. This course not only covers contemporary marketing practices but reveals the psychological mechanisms that drive their success- each week the students will learn a new psychological tool. Students first create a brand for any type of product/service/person they want. Then throughout the course they will develop that brand through weekly assignments and synchronous sessions related to modern marketing practices. Students will use a mix of theory and brainstorming within synchronous sessions to develop an optimal brand strategy. By the course conclusion, students will have a rich understanding of the most innovative marketing practices and how to leverage them through the creation and development of a brand. (2 credits)

Digital Marketing Implementation & Optimization (DMIO) is the heart of marketing and communication between companies and consumers in the new digital era. With the prevalence of online marketing and various media promotion strategies such as email marketing, E-commerce sites, social media marketing and podcast and live streaming, the hands-on practice of DMIO has become necessary and urgent for current marketing and business students to learn and practice before joining the professional world. Specifically, students will gain exposure to concepts and practices of digital content creation, digital & social media marketing, inbound & outbound marketing, CRMs and marketing terms. Students will learn how to measure SEO, KPIs & ROI, affiliate & sponsored marketing, E-commerce via website & APPs, and digital privacy. These DMIO concepts and skills are helpful for students: (1) who plan to pursue a marketing and communication-related career (2) who want to create content and conduct digital marketing for their own startups (3) who have the desire to enjoy the process of developing marketing content and thinking creatively. (2 credits)

This course provides coverage of negotiation and conflict-resolution in organizational settings. Students will study the theory and research on effective negotiating strategies to build their understanding of, and skills for, managing differences and negotiation situations. The course considers, among other topics, the issues of negotiating across functions, between levels, across national and cultural differences, over race and gender differences, and between organizations. Students will also master conflict-handling styles and response alternatives along with various modes of resolution including alternative dispute resolution, third-party intervention, mediation, and arbitration. (2 credits)

This course explores a variety of topics relevant to diversity in organizations; students will learn cultural and psychological processes that influence the manner in which people deal with one another. Students will apply them to discussions of specific dimensions of diversity, including race, ethnicity, gender, age, sexual orientation, gender identity, religion, and physical and mental ability. Students will also learn ways in which organizations can and do manage diversity toward the development of inclusive workplaces. (2 credits)

Designing, building, and sustaining high performing teams is essential to the success of an organization. Based on micro and macro management theories and concepts, students gain advanced insight and develop skills to design effective work teams and both motivate and facilitate teams to achieve high performance. Topics that will be covered include: team composition, diversity management, task design, team development, team competence, team leadership, and inter-team relationship. (2 credits)

Leaders must address continuing challenges of change and organizational adaptation. This course provides students with practical skills and tools for planning, managing, evaluating, and surviving large-scale organizational change with applications to emerging business issues, including knowledge management, “learning organizations,” and network management. (2 credits)

This course focuses on how to generate novel and useful ideas and how to implement them, as well as how leaders facilitate these processes. Based on both psychological and sociological perspectives on management, the course will explore the determinants of creativity and innovation at the individual, group, organizational, and inter-organizational levels of analysis. Students will become familiar with current thinking in the field, and apply their knowledge and understanding to practical business situations and case studies. (2 credits)

The objective of this course is to provide a strong foundation in the principles of both financial and managerial accounting and their impact on business decisions of managers and other users of financial information. The first portion of the course focuses on financial accounting concepts, the accounting cycle, and the preparation, analysis, and interpretation of the primary financial statements (balance sheet, income statement, and statement of cash flows). The second portion of the course will focus on fundamental managerial accounting concepts, including: cost allocation, cost-volume-profit analysis, operational budgeting, and financial planning. (4 credits)

The purpose of this course is to introduce the fundamental techniques in the context of financial analysis. The course will build on foundational knowledge of financial statement analysis to provide practical tools to support financial decisions. A managerial view of financial statements encompasses understanding how they show the economic consequences of doing business, facilitate the identification of future financing needs, and provide a structured approach to measuring the impact and sustainability of growth. The main topics covered include the time value of money and the net present value (NPV) rule, valuation of bonds and stocks, capital budgeting decisions, uncertainty and the trade-off between risk and return. The concepts developed in this course set the foundation that can be applied to Corporate Finance and Valuation and Quant and Factor Investing among other finance courses. (2 credits)

Data Science and Analytics Core (Select 8 Credits)

This course explores expertise, perspectives and the statistical foundation that data scientists apply to projects during four phases of data science: problem foundation, data acquisition, statistical modeling and analysis, and presentation of results. This course intends to provide students with a comprehensive introduction to all the major aspects of data science. (4 Credits)
Prerequisites: none

This course introduces students to the fundamental concepts capturing legal rights and responsibilities associated with data capture, storage and leveraging data for decision-making. Given the very diverse mix of topics falling under this broad umbrella, the aim of the course is to provide a general overview of the applicable aspects of the US regulatory and legislative framework, and then to offer more topically-focused overview of the key notions falling within the following areas: operational and experiential aspects of data governance and differential privacy, data-capture related rights and responsibilities, data governance design and
management, data security and privacy, information quality, and the ethical aspects of data access, usage, and sharing. (4 Credits)
Prerequisites: DSE 5001 and DSE 5002 (or competency in R or Python)

This course introduces students to the fundamentals of exploratory data analyses and data visualization, allowing students to turn data into insights, pictures, and stories. The following topics will be covered:

  • Transforming data into information and subsequent actionable insights and knowledge
  • Exploring the basics of graphic design and making a “good” graph
  • Undertaking data due diligence
  • Descriptive and inferential data analytical framework
  • Examples and practice of exploratory data analysis and using data for segmentation and
    classification
  • Exploring why some data visualizations present information effectively and others do
    not
  • Considering visualization as a component of the data analytics systems

The course will address data exploration utilizing classical statistical techniques, as well as topics of statistical inference, statistical significance, and outcome validity and reliability. Additionally, this course will introduce students to the foundations of constructing plots with the grammar of graphics and utilizing packages such as ggplot2 and Shiny. (4 Credits) Prerequisites: DSE 5001 and DSE 5002 (or competency in R)

Engineering Management Core (9 Credits)

New product development is a continuum of activities starting with the initial conceptualization of a new product through to successful product launch. This course introduces students to the range of activities along the new product development pathway, including ideation and concept development, concept refinement, detailed product design and engineering, design for manufacturability, design for usability, prototyping, scale-up and launch. It introduces multiple tools (used in different industries) to manage product development activities, including phase gate systems, agile development for software, lean development for products, etc. It also introduces scheduling, budgeting and monitoring tools to project and measure new product programs. (4 credits)

A product manager sits at the center of a complex web of interconnections and relationships that define successful products. This course introduces students to the various skills a product manager must deploy for product success including product definition, positioning, pricing, placement and promotion. It also introduces the relationship skills needed to manage cross-functional interactions and indirect and virtual teams. The course also includes an overview of the financial tools used to guide product realization and financial metrics used to measure product success. (4 credits)

This course involves participation in weekly seminars presented by faculty, invited guests, and graduate students in sciences and engineering and supporting disciplines. Topics will focus on profession integrity. Students are required to review the writing and presentations of other graduate students and offer presentations of their own. (1 credits)

Electives (Choose One Track) (8 Credits)

Life Sciences Concentration
3 Courses Required

Covers products and services that are directly regulated life sciences products such as pharmaceuticals, biotech, and medical devices, as well as products and services sold to these heavily regulated industries for R&D, QA, and manufacturing.

Innovation is at the very core of life sciences, which are based heavily on cutting edge science and technology. At the same time innovation is very challenging in life sciences settings, due to the heavily regulated environment. This course introduces students to the tools and techniques used in life sciences setting to allow for innovation to flourish while maintaining the tight controls necessary in a critical to life industry. Topics include general innovation tools like ideation and design thinking as well more specific tools such as open innovation and design contests. Additional topics include product lifecycle management and regulated product utilization management.

This course will introduce students to the regulatory aspects of product development in life sciences, such as Quality System Regulation 21CFR Part 820 and Design Controls. It also introduces the premarket approval process with FDA including 510K, PMA, etc. Also addressed are the regulatory aspects of marketing claims, including evidence-based claims, approved indications and off-label usage. The arcane process of reimbursement (getting paid) for life sciences products is also introduced. Also covered are the unique aspects of intellectual property (IP) in life sciences.

This course is the culmination of students’ learning – its intent is to offer students opportunities to apply the knowledge acquired in the program, in a directed, team-based setting. As such, the course is a practicum built around solving applied life sciences industry product realization problems, using available resources. While substantial product management guidance is offered throughout the course, the course does not encompass formal lectures, pre-determined assignments or examinations; instead, student’s performance in the Capstone course is based solely on successful completion of an assigned, student-specific project.

Software, Web, Mobile Concentration
3 Courses Required

Covers products and services that are primarily based on software. These include packaged software, software as a service (SAAS), web-based applications, publishing, services and eCommerce, and mobile apps.

Innovation is the lifeblood of software, web and mobile applications. These industries evolve at an unparalleled pace. This course introduces students to the tools and techniques that allow firms to innovate successfully in this fast paced environment. There is a special focus on software and online specific development methods like Agile Software Development and hackathons, as well as user driven innovation and design. Additional topics include available online business models, product lifecycle management, and privacy and data security implications.

Design Thinking is a systematic approach to innovation and creative problem-solving that can be used in many disciplines. This course will introduce the tools and methods that underpin Design Thinking, providing students ‘…the ability to combine empathy for the context of a problem, creativity in the generation of insights and solutions and rationality to analyze and fit solutions to the context’ [David Kelley, founder IDEO]. Included are techniques to understand users’ motivations and to gather deep insights, as well as ways to learn from failure: innovation entails taking risks and trying new things. Also included are introductions to communication methods central to innovation including visual storytelling and video prototyping.

This course is the culmination of students’ learning – its intent is to offer students opportunities to apply the knowledge acquired in the program, in a directed, team-based setting. As such, the course is a practicum built around solving applied software, web and mobile industry product realization problems, using available resources. While substantial product management guidance is offered throughout the course, the course does not encompass formal lectures, pre-determined assignments or examinations; instead, student’s performance in the Capstone course is based solely on successful completion of an assigned, student-specific project.

Complex Technological Products Concentration
3 Courses Required

Covers products and services that are composed of or rely on multiple different critical technologies, such as robotics, instrumentation, transportation systems, and energy systems.

Innovation is the lifeblood of many business domains.  The Agile methodology was developed to help manage projects and innovation in fast paced environments.  Originally deployed in software development, the Agile approach is beneficial in many project and innovation management situations. This course covers the many facets of Agile projects and innovation including user driven innovation and design, as well as software and online specific development methods. Additional topics include Scrums and Sprints, Innovation IdeaScrums, Kanban, Social Workflows, and Product Lifecycles.

Design Thinking is a systematic approach to innovation and creative problem-solving that can be used in many disciplines. This course will introduce the tools and methods that underpin Design Thinking, providing students ‘…the ability to combine empathy for the context of a problem, creativity in the generation of insights and solutions and rationality to analyze and fit solutions to the context’ [David Kelley, founder IDEO]. Included are techniques to understand users’ motivations and to gather deep insights, as well as ways to learn from failure: innovation entails taking risks and trying new things. Also included are introductions to communication methods central to innovation including visual storytelling and video prototyping.

This course is the culmination of students’ learning – its intent is to offer students opportunities to apply the knowledge acquired in the program, in a directed, team-based setting. As such, the course is a practicum built around solving applied technological product realization problems, using available resources. While substantial product management guidance is offered throughout the course, the course does not encompass formal lectures, pre-determined assignments or examinations; instead, student’s performance in the Capstone course is based solely on successful completion of an assigned, student-specific project.

Today’s Product-Driven Industries

In developing this Product Management program and curriculum, Merrimack College worked to identify skill gaps that professionals were encountering in product management careers. Having a detailed understanding of the common technology, software systems, and product life cycles is critical to empowering product managers to perform efficiently within their roles.

Program faculty understand the importance of how business analytics drives organizational decisions and strategy, and they also see how the interaction and motivation of cross-functional teams are vitally important to success.  The Product Management program focuses on these key skillsets to better prepare students to advance within or enter a product management role immediately.

Merrimack faculty are industry experts within today’s business environment, so in addition to teaching the concepts in the classroom, they share best-practices and challenges from experience in product management fields.  In addition to being invested in seeing students succeed, our faculty work to ensure students are prepared to address the challenges of tomorrow by understanding the demands in the market today.

Core Competencies

  1. Conceptualize, plan, manage, execute, and launch new products to meet market and business needs.
  2. Utilize product definition, positioning strategy, pricing strategy, placement strategy and promotion strategy to meet market and financial objectives for a business.
  3. Refine presentation and communication skills for effective product management.
  4. Develop foundational data science and analytics skills to support effective product management decision making including: data visualization, data governance, database management, and statistical analysis.
  5. Hone general management skills to support interactions with the extended product team.

  1. Plan, develop, and execute innovation activities in a heavily-regulated environment such as pharmaceuticals, biotech, and medical devices, as well as products and services sold to these industries for R&D, QA, and manufacturing.
  2. Navigate regulatory, reimbursement, and IP requirements and constraints throughout a product’s lifecycle in a life sciences environment.

  1. Plan, develop, and execute innovation activities in a fast-paced environment such as packaged software, software as a service (SAAS), web-based applications, publishing, services and eCommerce, and mobile apps.
  2. Plan, develop, and execute marketing activities for digital products and businesses.

  1. Plan, develop, and execute innovation activities in a complex, multi-disciplinary environment such as robotics, instrumentation, transportation systems, and energy systems.
  2. Understand users, develop deep empathy, discover context, and fit solutions to maximize the value created for the customer.

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At Merrimack College, we’re proud of our long history of providing quality degrees to students entering the job market. Our faculty are more than just teachers. We are committed to helping you grow — academically, personally, and professionally — so that you graduate as a confident, well-prepared leader.

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APPLIED LEARNING FOR MULTIPLE INDUSTRIES