Master of Management Studies (M.M.S) Product Management Syllabus - Mumbai University 2026

Course objectives

• 1 To introduce students to the principles and strategic importance of product management.
• 2 To equip students with practical skills in product development, lifecycle management, and portfolio analysis.
• 3 To foster understanding of consumer insights, market research, and competitive analysis in product strategy formulation.
• 4 To develop capabilities in product pricing, positioning, and go-to-market strategies.
• 5 To cultivate analytical skills for measuring and enhancing product performance and profitability.

Course outcomes

• CO1: Understand the roles and responsibilities of product management function withi the marketing organization
• CO2: Apply the concepts and frameworks to identify opportunities for new products
• CO3: Analyze competitive scenarios and consumer wants to develop product mix decisions
• CO4: Evaluate product policies based on frameworks to arrive at a decision based on Product / company fit, corporate mission and objectives
• CO5: Create a strategic plan for a new product launch

Unit 1 CO1 · 2 hours

Introduction to product management – roles and responsibilities of product managers, the product team and marketing organization

Unit 2 CO1, CO2, CO3 · 4 hours

Product Policy decisions – product items, product line, dimensions of the product mix – breadth, depth, consistency of the product mix

Unit 3 CO1, CO2, CO3 · 3 hours

Adjustments to the product mix – product abandonment, product modification, new product introduction, product positioning/repositioning, evaluating the product/company fit, fit with corporate mission and objectives

Unit 4 CO2, CO3, CO4 · 4 hours

New Product Development Process – opportunity identification, concept generation, concept evaluation, product development, launch; New product spectrum – incremental improvements, expansion of existing product lines, new to the world products

Unit 5 CO2, CO3 · 3 hours

Product requirement Document (PRD) – functionality and use cases, create stories, PRD coordination with engineering, customer service, sales, marketing functions

Unit 6 CO3, CO4 · 6 hours

Product Portfolio Planning – assumptions – product definition, experience curve effects, link between market share and profitability; Ansoff Product-Market Matrix, BCG growth share matrix, GE/McKinsey Business Assessment array, Arthur D. Little Business Profit matrix for strategies at different stages of PLC

Unit 7 CO3, CO4 · 3 hours

Launch Planning – demand, competition analysis, types of market testing

Unit 8 CO3, CO4 · 2 hours

Disruptive Innovation – from low-end and high-end products, achieving scale, Christensen’s disruptive innovation process

Unit 9 CO3, CO4 · 3 hours

AI products – changing role of product managers in the AI era; understanding of data science and machine learning, integration of AI into customer experiences; evaluate technology capabilities and limitations; AI product development cycle – Ideation, Opportunity assessment, concept/prototype, testing and analysis, roll-out

Textbooks

• 1 New Products Management. Merle Crawford, Anthony Di Benedetto. Tata McGraw Hill, 9e.
• 2 Product Management. Donald Lehmann, Russel Winer, 4e, McGraw Hill education Indian Edition

Reference Books

• 1 The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. Clayton Christensen, Marc Benioff. Harvard Business Review Press. 2024
• 2 Product and New Product Management. Yoram (Jerry) Wind. Vibrant Publishers. Vijay Mahajan (ed).