A product concept is a clearly defined idea for a product, outlining its features, benefits, and target audience. It should include a clearly defined product direction, a strong value proposition, and the tools to communicate them confidently to your stakeholders.
Examples:
A startup developing a wearable fitness tracker creates a product concept that includes tracking heart rate, step count, and calorie burn, targeting health-conscious individuals.
Related Terms:
MVP, Value Proposition, Feasibility