A stakeholder is a person or group holds a stake in the product. This can be a person or group that has the capability to influence the fortunes of the product. Notwithstanding, this can also be an individual or entity that is impacted by the product. Influences and impacts can be direct or indirect. And, stakeholders can be categorized as being upstream or downstream.
An upstream stakeholder is largely defined as anyone that is involved in bringing the product to the market. In comparison, downstream stakeholders comprise product consumers, sellers, and those who provide support for the product. A product manager must be acutely mindful of all potential stakeholders.