Market requirements document

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. 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.
 * What holds the customers back from purchasing the product.