“A product is the vehicle to deliver value. It has a clear boundary, known stakeholders, well-defined users, or customers. A product could be a service, a physical product, or something more abstract.”
The product goal is the team’s commitment to the future state of the product. Therefore, it serves as the long-term objective for the team.
Background Of The Term
Ken Schwaber and Jeff Sutherland introduced the product goal to add commitments for each of the three scrum artifacts, product backlog, sprint backlog, and Increment.
InFoQ article – Changes in the 2020 Scrum Guide: Q&A with Ken Schwaber and Jeff Sutherland