Concept Development

Concept development helps you evaluate your customers’ reactions to your product or service before your product launch. It is a structured way to develop an idea, see if customers like your idea, and determine what customer market is willing to buy it.

The concept development process
The concept development process helps you focus on the good product ideas so you don’t waste time and effort on a bad idea. The process includes:
- Brainstorming to create a pool of potential product or service concepts.
- Performing customer research to target your ideal customer.
- Estimating the market potential for your product or service concept.
- Creating a prototype for your product.
- Devising a marketing strategy.
- Performing test marketing.
- Evaluating your results.