Requirements gathering stage of SDLC
Requirements gathering is the first stage of SDLC process. At this stage is needed to be defined what software will do. There are different way to make this decision of what software is going to do. A manager may make a decision, or it could be a team decision.
It is a good idea to focus on incremental changes. Release first version and then improve it. In this case the first version will not have all of the features, but at least it will spark an interest of users.
At the same time it is needed to think about competitors, they can release something similar or even better. The development which was started by the team should not finish unless the goal is met. The goal may change during the development based on the factors such as understanding a need in the service, features of a similar product available from competitors. Even if competitors may have more features, it does not mean that what you develop will be a throw away.
Your product may not have all of the features of a competitor product, but at much lower price.
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