Product Management & Product Marketing
Establish market leadership and lower your cost of customer acquisition.
Typical Product Requirement Documents (PRD) specify the following:
Prioritized Customer Needs
What do customers need? What is the relative importance of these needs? Why?
What is the impact on a customer's top line and bottom line if these needs are fulfilled?
Quantified Customer Needs
What does your company need to deliver to your customers? What is your baseline offering? What is the next-best alternative?
How much more does your company need to deliver to get paid relative to your baseline?
What is the customer prepared to pay? Why?
What functions or features in your offering will deliver the quantified needs to your customers? Why?
What are the trade-offs among the functional requirements?
How does your high value concept compare to a customer's next-best alternative? Does your concept fulfill the customer's needs? Why?
Is your high value concept a winning concept, in terms of value delivered to customers, as compared to the next-best alternative? Why?