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ConceptDraw DIAGRAM (previously known as ConceptDraw PRO [1]) is proprietary diagramming software used to create business graphics, including: [2] diagrams, flowcharts, Infographics, data visualization for business process models, data presentation and project management documentation. [3]
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
A minimum viable product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. [ 1 ] [ 2 ] A focus on releasing an MVP means that developers potentially avoid lengthy and (possibly) unnecessary work.
Product Design Process: 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 ...
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.
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.
USP focuses on explicit claims of uniqueness involving an objectively verifiable product attribute or benefit-in-use. [6] In summary: Each advertisement must make a proposition to the consumer—not just words, product puffery, or show-window advertising. Each advertisement must say to each reader: "Buy this product, for this specific benefit."
Product development often overlaps much with the engineering design process, particularly if the new product being developed involves application of math and/or science. Every new product will pass through a series of stages/phases, including ideation among other aspects of design, as well as manufacturing and market introduction. In highly ...