A product concept is a description of a product or service, at an early stage in the
product lifecycle. It is generated before any detailed design work is undertaken and takes into consideration
market analysis,
customer experience, product features,
product cost,
strategic fit, and
product architecture
Product may refer to:
Business
* Product (business), an item that serves as a solution to a specific consumer problem.
* Product (project management), a deliverable or set of deliverables that contribute to a business solution
Mathematics
* Produ ...
.
A product concept should describe how the new product will appeal to its
target market
A target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total ma ...
. While the product concept is based upon the idea that customers prefer products that have the most quality, performance, and features, some customers prefer a product that is simpler and easier to use.
See also
*
Product lifecycle
*
Product development
References
{{DEFAULTSORT:Product Concept
Product development