Concept Development
In business and engineering, Concept Development is the term used to describe the complete
process of bringing a new product or service to market. There are two parallel paths involved in
the process: one involves the idea generation, product design and detail engineering; the other
involves market research and marketing analysis.

Companies typically see new product development as the first stage in generating and
commercializing new products within the overall strategic process of product life cycle
management used to maintain or grow their market share.

The "fuzzy front end" of the Concept Development process.

• Analyze strengths, weaknesses, opportunities and threats to existing products or services.
• Observe consumer patterns and habits.
• Brainstorm new opportunities based on analysis and observation.

The "not so fuzzy back end" of the Concept Development process.

• Develop the marketing and engineering details
• nvestigate intellectual property issues
• Determine the target market
• Define product features
• Test the concept by asking a sample of prospective customers what they think of the idea.
• Adjust concept based on viable consumer feedback.