A Market Requirements Document is typically written by the product manager or marketing personnel. Its definition can be described as an instrument by which to gauge the market demand for a given product. It is strategic in nature and attempts to anticipate the consumer’s desires or needs. The MRD can also be used to identify an opportunity in the marketplace to enhance or revise an existing or established product.
The MRD might include a variety of information such as the overall vision of the product, competition within the marketplace, analytics, opportunities and pitfalls, and even specific consumer target profiles.
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