One of the best investments you can make is an MBA from a prestigious institution. It enhances your skills, deepens your knowledge and career prospects, and ensures that you'll be matched with the most lucrative positions in today's job market.
However, the question is, which program should you apply for? Getting an MBA in any country in the world requires exceptional competence; one must have the ability to carry out academic work on a qualitatively different level, and the best institutions admit only a small proportion of applicants from among those who have achieved the best results.
WHAT IS PRODUCT MANAGEMENT?
Product management is not just about creating products and brands; the main goal is to ensure the success and longevity of products.
Product management requires professional team-building skills and remarkable leadership skills, as the role itself requires flawless coordination with various teams. In addition, the product manager must try to master the art of influencing without authority, as he or she must have multiple points of interaction with sales, advertising, finance, research and development, operations, supply chain and general management.
In addition, graduates in product and brand management are considered useful specialists in communications consulting and advertising, in addition to their regular duties. Therefore, a program such as the MBA in Product Management prepares every candidate to work in key positions that determine product success.
WHAT IS AN MBA IN PRODUCT MANAGEMENT?
It is a degree program offered by several universities with a focus or specialization on product management issues. The MBA in Product Management is designed to introduce students to various functions in the product lifecycle.
The different stages of this process depend on the type of product.
You will be responsible for collecting innovative product ideas.
These ideas also need to be evaluated from various perspectives such as practicality, differentiation, differentiation from products already on the market and the product's unique selling proposition.
Consideration of the target consumers, the demand and supply of the product, the characteristics of the new product in a competitive market and assess the profit potential.
A unique approach to create individual, high-impact applications for our candidates.
PRODUCT MANAGER AFTER MASTER'S DEGREE
The role of the product manager is multidisciplinary: managing marketing, sales and advertising, strategy and positioning, getting input from customers, solving product problems, digging deeper into analytics, increasing sales by optimizing conversions, identifying engineers, developing ways to increase user engagement, coordinating all lines of business to bring technology to life and improve the customer experience.
In many ways, it can be said of product managers that they are the heart of a technology company, which is why the role of product manager is in high demand.
MBA IN PRODUCT MANAGEMENT VERSUS MS IN PRODUCT MANAGEMENT
To understand the difference between an MBA in Product Management and an MS in Product Management, let's look at the example of the MS program offered by CMU, Tepper School of Business.
To begin with, let's take a look at the terms and conditions of the program:
Applicants must have a degree in Computer Engineering, Software Engineering or Computer Science.
The program is designed to prepare software engineers to work as product managers in technology companies through a one-year MS program.
The program is structured so that the Computer Collaboration Institute (CMU) teaches technical skills and the Tepper School of Business teaches management skills.
In addition, the program includes internships and core projects to give students practical skills for working in industry. However, the MBA in Product Management is primarily aimed at developing the managerial, leadership and networking skills of world-class executives.
Let's talk about reality! If you want to become a product manager in a particular technical area or field that interests you, and this is the main focus of your MBA, then perhaps this is the job for you.
On the other hand, suppose you want to focus on or improve in business management. In this case, an MBA would be more appropriate because product management requires team building, excellent leadership skills and the ability to master the art of influence, which are some of the cornerstones of an MBA program.
Certainly, an MBA will raise your profile as product management is more of a business/manager role than a technical one. Therefore, an MBA gives you the opportunity to learn about different functional aspects of the business, which is crucial for a product manager. Ultimately, however, it all depends on what you want for yourself!