The Indian Institute of Management (IIM) Lucknow has launched an online course in product management. It will have data analytics and design thinking as part of the course and will be offered through a learning platform — WileyNXT. It is a six-month course for executives. On completion of the programme, candidates will get a joint certification from WileyNXT and IIM-Lucknow.
The curriculum of the course is developed by IIM faculty and Wiley programme architects David Fradin, Wiley author, and product management expert along with the Wiley Innovation Advisory Council member. The programme, claims the institute, will focus on critical thinking, intensive learning, and industry-led orientation. It will also have various industry experts taking masterclasses to bring business context to the classroom.
The institute claims that it is the “only executive education programme to converge product, marketing, development and scale-up strategy across product lifecycle with data analytics and design thinking”. The course also sets the foundations for machine learning and how it can be applied for product success, as per the institute.
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Vikas Gupta, Managing Director, Wiley India said, “India has only 20,000 product managers compared to an estimated 1.8 million product managers in the US alone. This has fuelled the demand for skilled product managers who are able to build innovative business models and drive technology innovation for competitive gain.” According to David Fradin, “About 40% of all new products fail in the marketplace representing a waste of over half a trillion dollars worldwide.”
Professor Rajeev Kumra, Faculty, IIM Lucknow and Program Director said, “The data-driven product management program deals with a whole gamut of product marketing strategies driven by qualitative research, design thinking, and analytical skills. In the post-covid world, digital is going to be a game-changer, we need to acquire skills right from how to win a consumer to market segmentation to consumer positioning and this will be only possible through data-driven strategy. The learners will be skilled to do analysis, be adept to design thinking, and cultivate a growth mindset, all of which is critical for the success of a product.”
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