The development of a new product should always start with a specification. A specification’s main function is to clarify the idea and decide on its scope and performance. This sets down the design of the product and is a clear, agreed description of what the product is, what it achieves, how it operates and how it is to be made.
All other requirements are included at this stage.
A low production cost to allow competition in a given marketplace might be a feature.
The avoidance of infringement of existing patents may be required or it may be necessary to have a patent for the new product.