Marketing requirements document
From Wikipedia, the free encyclopedia
Market requirements documents (MRD)s are tools used instead of a "wish list" in business firms by sales and marketing personnel to determine what features and benefits the firm's upcoming and/or newer versions of products should have to succeed in the marketplace.
As a prelude to writing a MRD, a product marketing manager analyzes the market to determine what existing products serve the same or similar market(s) that the firm's products will serve. A business firm will try to find gaps in the existing market which it can fill with its own products. In other cases, a firm will try to identify pain points it can solve by bringing new products, solutions, or services to market. This requires intense analysis of the marketplace, the results of which go into the MRD.
Eventually, the firm turns over the MRD to the product management group which will craft a product requirements document (PRD), based on the MRD. The PRD will then be used by the engineering team to build the product.
