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An MRD typically contains information on the product's vision, the competitive landscape, business analysis, and revenue opportunity, as well as a list of features or at least high-level feature categories.

The Structure of a PRD The body of the PRD begins with a description of the project's objectives. This includes the overall vision for the product and high-level goals for the company paired with success metrics, Key Performance Indicators (KPIs), and a timeframe wherever possible.

An MRD focuses on the market's needs, capturing high-level business requirements and the strategic rationale for a product. It defines the target audience, their pain points, and the market opportunity. On the other hand, a PRD is more detailed and technical.

Market requirements document (MRD) vs. product requirements document (PRD) A market requirements document is different from a product requirements document (PRD), which generally addresses the development process and helps cross-functional teams to collaborate on building the product.

The Business Requirement Document (BRD) describes the high-level business needs whereas the Functional Requirement Document (FRD) outlines the functions required to fulfill the business need. BRD answers the question what the business wants to do whereas the FRD gives an answer to how should it be done.

PRDs typically contain some or all of the following: Overview: The basics of what you are building, including status, team members, and release date. Objective: Strategic alignment, including organizational goals or initiatives.

The product requirements document (PRD) is a high-level overview of what the product should do and why. It describes the vision, objectives, strategy, and value proposition of the product. It also outlines the user needs, user stories, acceptance criteria, and success metrics of the product.