Chart a Better Course for Product Success
Depending on the nature and maturity of your business, we define market requirements either through a comprehensive Market Requirements Document (MRD) approach or a more streamlined Minimum Viable Product (MVP) definition.
Think of a MRD as the business plan, blueprint and road map combined for developing, launching and revising your product or service. The MRD details your business opportunities and challenges, and defines product requirements as well as why customers want those features. It describes your target audience and why it is being targeted, as well as the landscape of competitive offerings. Our MRD template outline includes:
- Identification of business problems & objectives
- Solutions & features to solve business problem
- Target audience
- Competitive analysis
- Functional and non-functional requirements
- Prioritization of features & requirements
- User personas, stories and scenarios
When velocity ranks among your highest priorities, we recommend the streamlined MVP approach to focus on getting your product or service into the market as quickly as possible with the most basic offer so that customers can drive decisions about features and business model. This lean methodology approach emphasizes building your customer base in parallel with your minimum viable product, to better learn continuously from customer behavior.
In either scenario, Centriciti develops market requirements in a phased manner so you can fast track development activity without waiting for final documentation. We consider market requirements a modular and living document, which must evolve over time in sync with version releases. We also emphasize high fidelity prototyping and testing as a means to accelerate product and requirements development. Lastly, we write these documents keeping your entire organization in mind as the audience, not just your engineering or development teams. That way other departments can plan earlier, and better support future releases with the necessary resources and infrastructure.
We emphasize feature prioritization recognizing that no development team can deliver the perfect product at once. We believe talking directly to your customers or target audience is a necessary step of developing requirements documentation to validate priorities based upon their needs. We also give consideration to your internal customers, towards the objectives of lowering costs and the support burden.