Product Concept in PMTK
A Product Concept is a general description of the proposed product, its functions, and capabilities.
The idea of a Product Concept is found in product planning and product marketing for different purposes.
In product marketing, the product concept is part of preparing a Business Case, which evaluates a market problem and the resulting market opportunity. At this stage, the product concept suggests the solution to the market problem.
The product concept is also used to express the different forms of value the product may hold for potential users and buyers.
In product planning, the product concept is used in conjunction with a Product Roadmap, a description of the company's long-term strategy for the product's evolution over the course of time.
The product concept is also used in requirements documents to provide a general idea of what the product does and set the boundaries of the product feature set.
PMTK states that a product concept is generated before any development or design work, is focused on the product's architecture and features, and considers and reflects the best answer to the market's needs, desired customer experience, realistic product production cost, and an affordable price to the customer.