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In marketing, the whole product concept is the third iteration of a model originally developed by Philip Kotler, a professor at the Kellogg School of Management at Northwestern University. In his book entitled “Marketing Management” Kotler drew attention to the fact that consumers purchase more than the core product itself. And ...
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 .
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 ...
In this context, a strawman can take the form of an outline, [13] a set of charts, a presentation, or a paper. The ‘Straw Man’ also fits in neatly with the concept of iterative design, repeating and re-drafting to improve an initial concept or design. If anything is built, often, it may not end up in the final product.
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 analysts and users.
Product literature is a primary subset of business publishing that is geared toward the selection, purchase and subsequent use of a business' products. Product literature is intended to be created and distributed by the manufacturer alongside the product. The two components are designed to work in tandem so as to provide more information to the ...
By this time in the product’s life cycle, the characteristics of the product itself and of the production process are well known; the product is familiar to consumers and the production process to producers. This occurs when the product peaks in the maturity stage and then begins a downward slide in sales.