Get rid of the first two paragraphs. They are irrelevant. The last paragraph is the purpose of why you want to attend the school. Start with that and expand it to 500 words or so.
edit: and to help you expand on the last paragraph
A - Intro Paragraph
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1 - State what a product development manager is and why a master's degree is necessary.
2 - State what up to date tools the school will give you and how they will help you be a better product development manager.
3 - State why the school you are applying to is the correct one for you.
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B - Exit summary that ties your intro and the body together.
Do all of this in 500-750 words and you should have a solid statement of purpose.