Market Requirements vs. Product Requirements

When companies create a new offering, they start by defining customer needs and the business opportunity, and then identify the specific capabilities that will enable the offering to be accepted. The organization should involve all relevant stakeholders to create two distinct outputs that capture this information: market requirements and product requirements. Differences between the two outputs include their purpose, audience, owner, inputs, influence on other deliverables and activities, timing, and likelihood of change. This report explains the differences between market requirements and product requirements and how they complement one another.