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Product concept. A product concept is a description of a product or service, at an early stage in the product lifecycle. [ 1] 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. [ 2]
The product design process is a set of strategic and tactical activities, from idea generation to commercialization, used to create a product design. In a systematic approach, product designers conceptualize and evaluate ideas, turning them into tangible inventions and products. The product designer's role is to combine art, science, and ...
Product concept: mainly concerned with the quality of its product. It has largely been supplanted by the marketing orientation, except for haute couture and arts marketing. [40] [41] Production concept: specializes in producing as much as possible of a given product or service in order to achieve economies of scale or economies of scope. It ...
A sign explaining prototype signage. A prototype is an early sample, model, or release of a product built to test a concept or process. [ 1] It is a term used in a variety of contexts, including semantics, design, electronics, and software programming. A prototype is generally used to evaluate a new design to enhance precision by system ...
New product development. In business and engineering, product development or new product development ( PD or NPD) covers the complete process of bringing a new product to market, renewing an existing product and introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations.
Product planning. Product planning (or product discovery) is the ongoing process of identifying and articulating market requirements that define a product's feature set. [1] It serves as the basis for decision-making about price, distribution and promotion. Product planning is also the means by which companies and businesses can respond to long ...
Product (business) In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer. [ 1] In retailing, products are often referred to as merchandise, and in manufacturing, products are bought as raw ...
Whole product. In marketing, the whole product concept is an adaptation of the total product concept developed by Ted Levitt, a professor at Harvard Business School. In his book entitled “The Marketing Imagination” Levitt drew attention to the fact that consumers purchase more than the core product itself. Rather, they purchase the core ...