Master of Science in Product Innovation
Gain the skills and experiences to turn great ideas into great products.
The part-time Master of Science in Product Innovation advances your professional skills
through coursework and the hands-on practicum experience – without stepping out of
the workforce to advance your education.
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Apply for this Degree Program 
The products that we interact with daily - both digital and physical - shape our experiences of the world. Through the coursework and practicum experience, you will develop your skills to create impact through new product development and product management. Current issues in product development such as novel materials, changing customer demographics, sustainability, sourcing challenges, and inclusivity through product design are woven throughout the program to equip students for success in a rapidly changing world.
Frequent Questions
Can I complete the degree while working full time?
How large are the classes?
Courses and Schedule
What coursework is required for this degree?
Just the Facts
How Much? How Long?
Who can enroll?
How Do I Enroll?
Admission to Walton College masters programs is selective. Enrollment in each program is limited.
Just the Facts: Master of Science in Product Innovation
Program Length
1-2 years
The full-time program can be completed in 1 year. The professional part-time program can be completed in less than 2 years.
Start Date
Fall
Admissions Info
Do I Qualify to Enroll?
Complete your undergraduate degree and meet additional requirements. View Requirements
Entrance Test
GMAT or GRE
Students may be eligible for a GMAT/GRE test waiver with a 3.2 undergraduate GPA or 3 years of professional work experience. Please review our master's admissions policies.
Application Deadline
International applicants: February 15
Priority (domestic applicants): April 15
Final (domestic applicants): July 1
Total Program Cost
$20,190
Additional tuition costs applied for out-of-state and international students.
View cost details
Class Profile
Current Students
View a listing of current Master of Science in Product Innovation Students.
Podcast Interview
Sarah Goforth and Andy Murray discuss the role and importance of product managers in corporations and startups, in addition to the Product Innovation master's degree created by the Sam M. Walton College of Business.
Career Development
Close ties with our corporate partners facilitate recruiting and networking opportunities, internships, and careers.
Students can participate in corporate internships, career counseling, and take advantage of all the Walton College Career Services has to offer.
Courses and Program Schedule
To obtain the Master of Science in Product Innovation degree, students must complete the following 30 hours of coursework.
Core Courses
User Research in Applied Environments
User Research in Applied Environments covers basic methods of user research as it relates to new product creation, including human-centered design and customer discovery. Students will work in a team environment and will learn how to pair qualitative, team-based interviewing techniques with quantitative market research to identify and explore important needs and market opportunities.Business Foundations for Entrepreneurs
Introduction to the fundamental business concepts an entrepreneur needs to know to evaluate and launch a successful new venture. Topic areas include recruitment, selection, motivation and management of employees, market analysis and the marketing mix, financial strategies and accounting for funds, economic considerations, and the management of operations.Legal, Social and Economic Context for Product Innovation
In this class, we will cover a variety of issues important to product development, including intellectual property and liability issues, industry and competitor analysis, supply chains and sales channels, and social and environmental issues. The course will combine readings guest lectures, and project work that applies concepts to the students' specific projects.Principles of Product Design and Prototyping
Principles of Product Design and Prototyping develops foundational skills in product design, including hands-on experimentation with digital design and prototyping tools (e.g. Autodesk, Solidworks, Adobe). This course will pair readings, lectures, and hands-on mini-workshops to build confidence and capability in product design in the context of the student' own ideas.Product Management
In this class, we will explore the relationship between design, product development, and product management in a business environment. Product strategy, lifecycle management, go-to-market strategies, and user and functional testing will be covered, as will techniques of project and product management using tools widely deployed in innovative corporate and startup environments to track user needs, manage product iterations, and execute design sprints.Choose 9 hours from the Product Innovation Practicum or the New Venture Development Practicum
Product Innovation Practicum
In this practicum students will have an opportunity to develop new products that are based on validated needs within their chosen industries, from the idea and discovery phases through to products that are ready to be commercialized. Students will apply concepts from their design and development classes to their product ideas, and will form relationships with corporate and entrepreneurial partners that allow for those products to be tested in real-world pilots.New Venture Development
Focuses on the identification and analysis of new venture opportunities and how entrepreneurs acquire the human and financial resources needed to develop successful businesses. Topics include market analysis, development of products and services, negotiation, developing and executing business plans, and new venture financing. Students are required to complete summer assignments before the course begins in the fall semester. Prerequisite: SEVI 5213 or an undergraduate degree in business or permission of the instructor.New Venture Development II
A large-scale, real world, 10-week project involving hands-on work addressing issues faced by managers in partnering firms.Electives
Innovation & Creativity
This class will provide a framework for developing, assessing and implementing innovations in start-ups and established businesses. Focus is on creative decision making, managing for innovation, strategic analysis of innovations, and implementation of innovations. Aimed at entrepreneurs, brand managers, and managers in industries where innovation is a key strategic capability.New Product Development and Strategy
Behavioral and social science concepts applied to retail shoppers, buyers, and consumers of products and services. Attention is given to research on the cognitive, affective, and experiential aspects involved in the acquisition, consumption, and disposal of products and services by individuals and households.Marketing
Product management, market research, marketing communications, retailing and distribution, consumer behavior, and social and ethical implications of marketing.Supply Chain Strategy, Governance and Change Management
Evaluate and select appropriate supply chain strategies, change management approaches, and governance structures for business situations. This course leverages plan, source, make, deliver, customer service, and new product development capabilities to meet strategic and financial goals in demand-driven value networks.Sustainability in Business
The course focuses on theoretical and practical bases for pursuing sustainability in business and society.Emerging Technologies in Industry
Business leaders present technologies used by their companies. Focusing on Arkansas-based companies, technology needs for the industry and innovative ideas for solutions or advancements are discussed. Students work to develop solutions to address company needs or further develop a company's current technology.Program Overview
The Master of Science in Product Innovation will prepare students to usher new products from the idea through the commercialization phases within existing companies or in new ventures. The program aims to equip students with the knowledge, skills, and abilities to improve the probability of commercial success for innovative new products and services.
The degree will consist of a 2-year, 30-hour program that includes full summer, fall and spring terms. Classes will meet online during the week and one Saturday per month at the University's Global Campus in Bentonville.
Saturday Class Dates
| Fall 2023 |
Spring 2024 |
Summer 2024 |
| August 26 |
January 20 |
May 18 |
| September 23 |
February 17 |
June 15 |
| October 14 |
March 9 |
July 6 |
| November 4 |
April 6 |
July 27 |
| December 2 |
April 27 |
Product/Venture Practicums
Students will choose a project-based practicum related to some aspect of new product development - developing a new product, building a product-focused business, or working with an existing brand to advance their product portfolio - with the support of faculty experts and mentors from various industries, such as outdoor recreation, biodesign, digital products, and others. The small cohort size of each group enables students to have a high level of engagement with faculty and project sponsors, ensuring a more customized learning experience for a variety of professionals. Students also have the opportunity to participate in a product incubator program and test new product concepts and prototypes.
The student can choose from one of two practicum options:
- Product Development Practicum – The self-paced practicum experience will be in partnership with a project sponsor in the industry of the student’s preference. With a faculty advisor and project sponsor, the student will develop customized deliverables and timeline to advance the product development goals of the sponsor organization.
- New Venture Development Practicum – This team-based practicum with other interdisciplinary master’s level students will enable the student to develop their skills in creating a new product-based business through business modeling, product development, and product pitch events.
Frequently Asked Questions
No, as currently organized, the program cannot be completed in a fully remote format. We have, however, structured it to accommodate working professionals with most coursework occurring online during the week and courses meeting in person one Saturday per month in Bentonville.
Yes, with both full time and part time options, you can choose the pace which best suites your current career goals.
Students from a wide range of degrees and professional backgrounds are admissible to this program, including but not limited to design, engineering, IT, supply chain, retail, operations, and many others. There is no certain degree or level of experience required to apply.
The Northwest Arkansas Community
Join a supportive and engaging community located in the vibrant business network of Northwest Arkansas, with over 300 Fortune 500 companies with a presence in the region.
Business leaders and Walton alumni are closely connected to the college, not just during your studies, but throughout your career.
