1

Describe Product Background

• Provide a one or two paragraph description of the product. Describe the events and conditions that determine the need for a new or improved product.

2

Explain Driving Factors

• Describe the major requirements or timeframe driving the release of the product. Be brief.
• Make clear whether this project is driven by date (such as a major tradeshow) or functionality (such as the desire to outdo a competitor).

3

Identify Market Segments

• Identify the market segments that will be targeted by the product. Consult the marketing data for information about which segments provide the best business opportunity.

4

Determine Key Value

• Write the value proposition of the new or enhanced product.
• Distill the key concepts down to approximately a twenty-five word statement that provides a single value proposition for the identified market segments.

The initial product vision statement is published to the project portal.