Designing an R&D module for a customer challenge

I have collected a whole set of notes on a particular challenge faced by a particular customer. I now want to dedicate a 30 day period of R&D to designing a solution based on these notes.

What is the aim for turning a customer challenge into a product. Maybe a press release like this:

•       For(target customers)
•       Who(have the following problem)
•       Our product is a (describe the product or solution) 
•       That provides (cite the breakthrough capability) 
•       Unlike(reference competition)
•       Our product/solution (key point of competitive differentiation)

Or it might be ‘what is the smallest solution for the smallest part of the problem that I can build and test?’

Or might be the completion of these questions:

Project Title

• Description: What is it?
• Problem: What problem is this solving?
• Why: How do we know this is a real problem and worth solving?
• Success: How do we know if we’ve solved this problem?
• Audience: Who are we building for?
• What: What does this look like in the product?
• How: What is the experiment plan?
• Proposed timeline: When does it ship and what are the milestones?

All different processes and aims to be deployed in the R&D module.