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12 Types of Product Concept

 , updated on October 02, 2017
A product concept is a high level statement of the value of a product or service. Where developing a product can be a highly technical task steeped in details, customers may only think of your product in terms of a concept that can be described in a few words. Defining a valuable concept for a product and using this in as a guiding principle of product development is a basic marketing practice. It is common to work with a large number of product concepts and only develop the small percentage that show the most promise. The following are common elements of a product concept.

Convenience

Products that save customers time and make things easier.

Usability

User interfaces that are pleasing and productive to use.

Quality

The non-functional qualities of a product such as durability and reliability.

Functionality & Performance

Products that solve customer problems such as efficient solar panels or fast bicycles.

Price

A price-based concept such as "affordable luxury."

Lifestyle

A product for a lifestyle such as a car designed for people who enjoy outdoor activities such as fishing or snowboarding.

Status

Products that are designed to communicate wealth or another type of status such as conspicuous conservation.

Culture

A product that exemplifies a culture, subculture or super-culture. For example, wine with a well known terroir.

Risk

Products that reduce a risk such as healthy food or a safe vehicle.

Values

Products that conform to the customer's values in areas such as environmental stewardship, animal welfare and fairness to people.

Experience

The end-to-end customer experience such as the experience of buying, unpackaging, viewing, touching and tasting a macaron.

Quality of Life

A product that frees a customer from something they find unpleasant. For example, a mobile device with few features for customers who value simplicity.
Overview: Product Concept
Type
Definition
A high-level statement of the value of a product or service.
Related Concepts

Product Marketing

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