Product execution refers to the process of bringing a product from concept to market, and the Product Requirements Document (PRD) is an essential aspect of this process. A well-written PRD serves as a roadmap for the development of a product, outlining the objectives, requirements, and specifications necessary to bring the product to market and meet the needs of the target audience.

Here are five key points to consider when approaching product execution:

Define your product: Clearly define the features and functions of your product, as well as the target market and value proposition. This will help guide the product development process and ensure that the final product meets the needs of your target market.
Create a development plan: Develop a detailed plan for how the product will be developed, including timelines, milestones, and resource requirements. This will help ensure that the product is developed on schedule and within budget.
Test your product. Thoroughly test your product to ensure it meets the requirements and functions as intended. This will help identify any issues that need to be addressed before the product is released to the market.
Market your product: Develop a marketing plan to promote your product and generate interest among potential customers. This will help ensure that your product reaches the right audience and generates sales.
Monitor your product's performance: Once your product is released, monitor its performance in the market and gather feedback from customers. Use this information to make any necessary adjustments to your product and marketing strategy.

Why is Product Execution Important?

It helps bring a product to market: product execution is crucial for bringing a product from concept to market, ensuring that it reaches the right audience, and generating sales.
It helps ensure that the product meets the needs of the target market. By clearly defining the product's features and functions and the target market, product execution helps ensure that the final product meets the needs of the target market.
It helps to stay competitive: by developing a detailed development plan, thoroughly testing the product, and implementing a strong marketing strategy, product execution helps companies stay competitive in the market.
It helps to improve customer satisfaction: By monitoring the product's performance and gathering feedback from customers, companies can make any necessary adjustments to improve customer satisfaction.
It helps to achieve business goals: By effectively executing the product development, testing, marketing, and sales strategy, companies can achieve their business goals, such as increasing revenue and improving customer retention.

Why is Product Execution a Necessary Job Skill?

It helps in managing the product development process. Product execution helps in managing the product development process by ensuring that the product is developed on schedule and within budget.
It helps in ensuring the product meets the requirements: It helps in ensuring the product meets the requirements and functions as intended by thoroughly testing the product.
It helps in promoting the product: It helps in promoting the product by developing a marketing plan and generating interest among potential customers.
It helps in tracking the product's performance: It helps in tracking the product's performance by monitoring its performance in the market and gathering feedback from customers.
It helps in making decisions: Product execution helps in making decisions by using the data and feedback gathered from the product's performance in the market and with customers.

In conclusion, product execution is the key to success in product development. It helps companies bring a product to market, ensure it meets the needs of the target market, stay competitive, improve customer satisfaction, and achieve business goals. Product managers and other stakeholders must have the skill of product execution to manage the product development process, ensure the product meets the requirements, promote the product, track its performance, and make decisions based on data and feedback. A well-executed product development process helps ensure that the product is developed on schedule, within budget, and meets the needs of the target market, ultimately leading to its success in the market.