From Finance to Pharma: A Product Leader’s Guide to Excel in Any Industry with Marilyn McDonald

Introduction and Setting the Stage

Rina Alexin | 00:00–02:23

Hi everyone, and welcome to *Productside Stories*, the podcast where we reveal the real lessons learned from product leaders and thinkers all over the world. I’m your host, **Rina Alexin**, CEO of Productside, and today I’m joined by **Marilyn McDonald**, the SVP of Commercial Digital and Innovation at **Moderna**.

Marilyn has an incredible background leading product and engineering across industries — from finance to ticketing to pharmaceuticals. Today we’re exploring her journey and how she’s managed to adapt and excel in such diverse spaces.

Marilyn’s Journey into Product Management

Marilyn McDonald | 02:23–04:22

Thanks so much for having me! I actually started in marketing — not product. In marketing, you have to deeply understand your audience, and I found myself drawn to solving customer problems rather than just influencing behavior. Product management became the natural next step — it was about *creating* the solution instead of just communicating it.

Transitioning Across Industries: From Finance to Pharma

Marilyn McDonald | 04:22–06:01

I’ve worked in many industries — finance, entertainment, pharma — and I’ve realized innovation often comes from applying familiar patterns to new contexts. The mechanics of organizing a team around a customer problem and delivering value stay constant; it’s the context that changes.

Common Threads of Product Leadership Across Sectors

Rina Alexin | 06:01–07:07

Exactly. At Productside, we see the same. The frameworks may differ, but the fundamentals of good product management — empathy, prioritization, and clarity — are universal.

The Three Must-Have Skills for Product Managers

Marilyn McDonald | 07:07–08:54

For me, there are three core skills: 1. **Understanding your user** — true empathy and curiosity. 2. **Creating clarity out of ambiguity** — product management thrives in uncertainty. 3. **Execution and results** — the ability to get things done.

These are universal. The product, market, or domain may change, but these fundamentals don’t.

Why Domain Expertise Isn’t Always Essential

Marilyn McDonald | 08:54–09:56

Domain expertise is helpful, but not mandatory. In fast-moving or transforming companies, I’d rather hire for curiosity and problem-solving. Deep domain experts can sometimes get stuck in “how it’s always been done.”

When Domain Knowledge Becomes Important

Marilyn McDonald | 09:56–11:52

It matters more in mature, stable organizations — where innovation isn’t the main goal, but optimization is. In those contexts, domain knowledge accelerates execution. But if you’re in a transformation or growth phase, flexibility wins.

How to Get Up to Speed in New Industries

Marilyn McDonald | 11:52–14:40

Start by understanding your leaders — how they think and make decisions. Then, study the operating environment: the regulations, customers, competitors, and constraints. I also avoid blindly copying competitors. Just because they built it doesn’t mean it worked. Learn, but always validate through your own user insights.

Why You Should Never Accept “You Can’t Talk to Customers”

Marilyn McDonald | 14:40–17:14

I’ve heard that phrase in every regulated industry — and I reject it. There’s always a way. Whether through observation, analytics, or partnering with sales and support teams, you can and must listen to customers. Without that input, you’re guessing.

Building Customer Councils and Finding Creative Feedback Loops

Marilyn McDonald | 17:14–17:42

Customer councils are fantastic. Invite a small, representative group of customers, meet regularly, and discuss roadmap ideas. Even regulated industries can do this — with the right disclaimers and legal support.

Managing Ambiguity and Uncertainty in Product Development

Rina Alexin | 17:42–19:28

Ambiguity is part of the job. The best PMs run experiments, test hypotheses, and get comfortable with “not knowing.” The faster you learn, the faster you succeed.

Coaching Product Managers to Fall in Love with the Problem

Marilyn McDonald | 19:28–21:12

Exactly. PMs must fall in love with the **problem**, not the product. Products will change — problems evolve — but the user’s pain point stays central. Focusing on the problem keeps teams innovative and open to pivoting.

Courageous Conversations and Reframing Priorities

Rina Alexin | 21:12–22:08

As leaders, we need to have those difficult, courageous conversations. Many “big problems” come from avoiding them too long.

Assessing Business Mechanics and ROI

Marilyn McDonald | 22:08–25:04

Understand the mechanics of your business. Map the customer journey — acquisition, conversion, loyalty — and compare investment versus return at each stage. You’ll find over- and under-invested areas, and that’s where opportunity lives.

Communicating Findings and Leading Change

Marilyn McDonald | 26:53–29:47

Transparency matters. Frame your insights as opportunities, not criticisms. Help leadership see ROI differently. It’s not about spending less — it’s about spending smarter. That reframing builds trust and paves the way for innovation.

Marilyn’s 90-Day Leadership Playbook

Marilyn McDonald | 29:47–31:41

First 30 days: listen and learn. Next 30: form your hypotheses and strategy. Final 30: align, communicate, and execute.

Keep messaging clear and visible — people need to know the “why.” Then adjust as you go.

Building Team Trust and Avoiding Change Fatigue

Marilyn McDonald | 31:41–33:41

I prefer big, intentional shifts once or twice a year instead of constant tweaks. Too much change breeds fatigue. Stability builds confidence and creativity.

Learning Company Culture and Communication Rhythms

Marilyn McDonald | 33:41–35:14

Before changing anything, learn how your company communicates — who has influence, what channels work best. Culture shapes execution as much as process.

Advice for Aspiring Product Leaders

Marilyn McDonald | 35:14–37:33

When you become a leader, your **product is your org**. Your goal is to build healthy, balanced teams that deliver value and stay connected to the customer. Focus less on outputs and more on enabling people to succeed.

Closing Thoughts and How to Connect with Marilyn

Rina Alexin & Marilyn McDonald | 37:33–End

**Rina:** Marilyn, thank you so much for joining us — this has been such a rich conversation. **Marilyn:** Thank you, Rina! You can find me on **LinkedIn**, and I also co-host a casual podcast where we talk about practical product management — with a bit of humor and plenty of honesty.

Rina: Wonderful. And to our listeners — thank you for tuning in to Productside Stories. Keep innovating, keep inspiring, and keep creating stories worth sharing.