In product management, stakeholders are the individuals or groups who have a vested interest or influence in the product's success. They can include anyone from executives and product managers to developers and customers.

Imagine you're cooking a meal for a group of friends. The stakeholders would be the friends you're cooking for. Their opinions, preferences, and dietary restrictions all need to be considered to create a meal that satisfies everyone. Similarly, in product management, stakeholders have different needs and priorities that must be taken into account when making decisions about the product.