New product development shapes the company’s future. New product launch is a very complex, time consuming and is financially a big issue for any company. There is expectation from every new product launched to have high sales, to have good margins, to capture market share and thus become market leader. These are the expectations however the real picture may be not so good or as expected. Many a time the products introduce are flops and thus results in loss. This loss may be in terms of monetary as lot of money is involved in launching a new product. It also results in loss in terms of image.
I would target a top technology school if you can (MIT, Stanford types - or similar depending on your scores) and then specialize in the industry you want to work in. Software based product management is generally the same set of methods and buzzwords (scrum, lean, blah blah) but applying it to marketing, finance, healthcare, or fmcg is a different story. By going to the school with technical prowess you will learn a lot through osmosis and then cherry pick your electives to prepare for post graduation. If you had to skip an MBA, masters in IT or IS will take you further if you want to be in software product management (there are many types of product management). Source: I'm a software product manager.