WELCOME TO

TLE- CCS
CLASS!
 A stage where the target market is
identified, reviewed, and evaluated.

Lesson 6: • It takes place on the early process and

helps to identify key perceptions of the
CONCEPT user needs and wants to come up with the

DEVELOPMENT
more suitable product or service.

• It involves developing with a close

detailed description of an idea, explained
from the perspective of your customer.
STAGES OF CONCEPT DEVELOPMENT
1. Identify customer needs

By means of survey forms,

interviews, researches, focus
group discussions, and
observations, an entrepreneur
can easily identify customers’
needs and wants. During this
stage, the data which will be
possibly gathered are product
specifications (performance,
taste, size, color, shape, life span
of the goods or merchandise).
2. Establish Target Specifications

Based on customers' needs

and reviews of competitive
products, you will be able to
establish target specifications
of the potential new products
and/or services. A target
specification is essentially a
wish-list.
3. Analyze Competitive Products

It needs to investigate an existing

competitive product to supply
important information in
establishing product or service
specifications. Other products
may display successful design
features that should be matched
or improved upon in the new
product or service.
 4. Make Product Concepts
After having gone through
with the previous processes,
you may now develop several
product concepts to
demonstrate the types of
products or services that are
technically feasible and will
best achieve the requirements
of the target specifications.
5. Select a Final Product
Concept

A final concept is chosen

after undergoing through
the evaluation method
between its features. After
the final selection,
additional researches are
often applied to get
feedback from certain key
customers.
6. Improve product specifications

In this phase, product or service

specifications are polished
based on input from the earlier
activities. Final specifications
are the result of extensive
study, expected service life,
expected selling price among
others are being carefully
measured.
7. Prepare economic analysis

It is very significant to always review

and to estimate the economic
implications regarding development
expenses, manufacturing costs, and
selling price of the product or
services to be offered or provided.
8. Plan the remaining development
project

In this final stage of concept

development, you can prepare
a detailed development plan
which incorporates a listing of
specific activities, necessary
resources and expenses, and a
schedule with milestones for
tracing progress development.
 ✓convenience
A concept typically ✓usability
highlights the most ✓quality
effective features of ✓functionality
the proposed ✓performance
✓price
solutions in terms of:
✓values
✓experience