1. Requirements Summary

Provide a concise report of the specific objectives for this Product Requirements Document (PRD), along with pertinent facts, assumptions, and recommendations noted throughout the document. This summary clearly describes the specific objectives for this PRD relative to the Market Requirements Document (MRD).

Product Objectives/Release Themes

Describe the specific objectives for this product release.

Definition and Description

Describe the specific product release, including how it fits within the current product family.

Product Release Positioning Statement

Provide a positioning statement—a single sentence or short paragraph that summarizes the positioning strategy for a product line. Its use is for internal purposes only (this is not a tagline or a message to be used verbatim with customers and prospects). The positioning statement is a tool used to align the product team with a commonly understood and accepted umbrella positioning strategy for the product line. This positioning statement must be able to coexist with the positioning statement for the product line, as described in the MRD.

To[Target Market]
[Product Family Name]
is the one
[Product Category]
[Key Benefit(s)]
[Competitive Differentiator]

Expected Release Date

Clarify whether this release will be managed as a date release or as a feature set release. Provide a timeline for major milestones that lead up to the expected release date. The release date must specify the quarter and fiscal year of expected general availability. If this is a feature set release, describe the “must have” capabilities that would justify a data slippage.

Target Market Segmentation, Regional Limitation, and Special Conditions

Of the target market segments highlighted in the MRD, summarize the prioritized market segment(s) that this produce release will address. Also indicate any issues that will impact the product’s use internationally, as well as any special conditions.

Financial Summary

Using the revenue and cost projections for the product defined in the MRD, review and update this financial data will a specific focus on this single product release.

Sales & Revenue Forecast

Present the following estimated sales volume and revenue forecasts the product will produce for the company over a two-year period:
  • Best case scenario
  • Worst case scenario
  • Most likely scenario
Create a separate forecast for direct sales and another for indirect channel sales.

List all assumptions that impact each forecast.
(Note: Sales and revenue forecast should be a more specific subset of the longer-term forecast estimated in the MRD.)

Costs and Budget Estimates

For at least the two-year period following general release, present the most likely cost and budget estimates related to this product release.
(Note: These costs should be a more specific subset of the longer-term costs estimated in the MRD.)

Manufacturing and Distribution Costs

Sales and Marketing Costs

Support and Training Costs

General and Administrative Costs

Other costs

Non-financial Impact

Resource Impact to Company

This section highlights any non-financial impacts the company may face as a result of the introduction of this new release (e.g., To meet the release date, X more engineers are required).

Resource Impact to Existing Customers

This section highlights any non-financial impacts the customer base may face as a result of the introduction of this new release (e.g., Customers must upgrade their operating system prior to taking advantage of the company’s new product).

Supporting Source Document Schedule

In this section, provide a timeline for the creation of any supporting documents that will accompany the development of this product release. These documents are used to ensure both the best possible positioning and the development and use of consistent messages throughout marketing and sales.

Product Positioning & Messaging Matrix

Use this matrix to expand on the positioning statement in section 1.3. When multiple audiences are targeted, this matrix clarifies the segments and identifies the top three messages for each audience.

[Audience 1]
[Variation on Product Release Positioning Statement]
[Audience 2][Variation on Product Release Positioning Statement]
[Audience 3][Variation on Product Release Positioning Statement]