Market requirements document

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A market requirements document (MRD) in project management and systems engineering, is a document that expresses the customer's wants and needs for the product or service.^[1]

It is typically written as a part of product marketing or product management. The document should explain:

What (new) product is being discussed
Who the target customers are
What products are in competition with the proposed one
Why customers are likely to want this product.

References

^ Shired, Diane MRD – Market Requirements Document, Birds-Eye.Net. Accessed 09. Jun 2009.

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