5 Steps to Create Your Product Concept

Writing a product or service concept for market research purposes can be a challenging task. The concept has to  be easy enough for study participants to fully understand it yet include a certain level of depth/detail to show the  innovation that comes with the concept. This guide provides you with the basic structure of what a good concept  description should include to catch respondents’interest. Of course, there are slight differences depending on the  service or product you want to write the concept for, but if you follow this guide you will have a good starting point.

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1. Choose a Concept Name

This might seem like a relatively easy task, but don’t be mistaken. A name should be short, but in case of a research concept catchy alone isn’t necessarily the right way to go. Make sure the name you choose is short,but more than anything it should be understandable. If you pack it with terms that simply sound good, it might cause a misunderstanding which leads the research into the wrong direction from the get-go. So, be clear and concise.

To illustrate the different steps,we created a fictitious product. We would like to introduce:
Password Vault App

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2. A Short Concept Description

Make sure the summary is easy to understand and if you aren’t sure if that’s the case try taking a look at it from a different perspective. Can anyone figure out what you mean when reading the text for the first time? Is the description too short and will lead to additional questions or is there an information overload and the main point gets lost? Lastly, don’t use acronyms or industrial terms if their meaning isn’t common knowledge.

Example:
The Password Vault is an app that saves all your passwords in one  safe place. And this really means one - it only saves the passwords on your phone (without saving it in the cloud).The passwords are protected through next generation end-to-end encryption.Additionally,it makes your life easier by automatically populating your password when accessing a site. For the app, there’s a one-time payment– no additional fees or in-app purchases.

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3. Add a Little Detail

What is it that makes your product special and why should people believe  that claim? Point out your product’s benefit and say how it differentiates from other products in the market. These details should include your key message like: “50% less sugar,charges your phone 50%faster, helps you improve your grades by 20%,” - you get the gist.

Now for the second part: the reason to believe. It should list believable features or product enhancements and include anything that makes it better than the current market solutions. If you have video or photo material to sup - port these claims use them in this part. Be aware that it is important to not simply list everything that is good about your product. If the list is too long or explicit people will lose interest and stop reading.

Example:
Here is the solution to your password needs: Password Vault. An App that keeps all your passwords in one place and safe from hackers through end-to-end encryption. It’s the perfect solution for those having a hard time  keeping track of all their passwords and those who simply enjoy efficiency. You don’t have to remember a code to  access the app as it can be unlocked via  fingerprint or face recognition. And in case your phone gets stolen or hacked the app erases itself up on your request or stores your passwords on a safe cloud.

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4. Now add Some More Specifics

If there is more time and place add more relevant information, be it pricing, timing/ timing limitations or system details. The price, even if it is still a rough estimate,is a necessary detail to be able to assess people’s real interest in your product. If possible, mention if it is a one-time purchase or subscription (and if it is when payment would be due). Moving on,there are certain products like educational or technical ones that need set timing expectations or limitations (e.g. “This online course will take you about X hours to complete“ or “The introductory pricing is only valid for Y days/months”). Another  factor that has to be considered in case of a technical product are system details. Include whether your product or service needs any technology or system prerequisites (and what devices it can be used on) – like in case of an app make clear if it is for desktop or mobile or both.

Example:
For US customer pricing is shown as $2.99. It only works on mobile devices that operate on either Android or iOS  and are capable of fingerprint or face  recognition.

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5. Put it in one Sentence

Often times these steps are followed by a short one-sentence summary that briefly touches upon the most significant aspects.

Example:
Password Vault App
a safe place to store your passwords on mobile

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