What Are The Key Parts Of A Concept Statement?

by | Last updated on January 24, 2024

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  • A Brief Description of the Business Concept. …
  • The Market Need. …
  • Your Solution. …
  • Your Proposed Business Model. …
  • Your Unique Value Proposition (UVP). …
  • A Succinct Competitive Analysis. …
  • A Quick Overview of Your Marketing Plan.

How do you structure a concept statement?

  1. Keep it Brief. In many instances, a concept statement of one sentence is probably a bit too short, but in most instances, a full page is likely too long. …
  2. Explain Your Idea Clearly. …
  3. Write to Your Audience. …
  4. Spell Out the Benefits.

What are the four parts of a concept statement?

In general, a basic concept statement provides a description of the business, defines the problem,

identifies the target market

, implies how the product or service will address this problem, and outlines the goals and objectives.

How do you write a concept?

  1. That means you have the right idea for the insight, the right idea for the benefit, and the right ideas for the RTBs.
  2. Write them all down in outline form.
  3. Check to see if it all hangs together and creates a logical story.
  4. Have others read it over to see if they agree it’s basically right.

What is product concept statement?

A product concept statement, sometimes referred to as just a “concept statement” represents

the vision that a business owner and his design team has for a product or service

. It describes the product or service, explains its purpose and considers the consumer demographics that the product is market toward.

What is an example of a concept?

In the simplest terms, a concept is a name or label that regards or treats an abstraction as if it had concrete or material existence, such as a person, a place, or a thing. … For example, the word

“moon”

(a concept) is not the large, bright, shape-changing object up in the sky, but only represents that celestial object.

What is a concept statement example?

Concept statements usually follow a three-part format:

Problem, Solution, Reasons To Believe (RTBs.)

And of course always stated from the point of view of your target consumer. Fairly simple, the concept statement for a new product might be: “We need to get the orange juice into the trucks faster.”

What should be included in a concept statement?

  1. A Brief Description of the Business Concept. …
  2. The Market Need. …
  3. Your Solution. …
  4. Your Proposed Business Model. …
  5. Your Unique Value Proposition (UVP). …
  6. A Succinct Competitive Analysis. …
  7. A Quick Overview of Your Marketing Plan.

What is a simple concept plan?

A concept plan is

a short overview of a new business venture

. … The concept plan precedes the writing of a business plan and establishes the foundation for its development. The concept plan should be brief, extending to only a few pages in length.

What is a concept and give an original example?

A concept is defined as a general idea of something. An example of concept is a general understanding of American history. … The original concept was

for a building with 12 floors

.

What are the 3 ways in explaining a concept?

  • Information definition – Done through brief explanation.
  • Formal definition – Explains a term by indicating where that term came from and the quality that makes the term different from others.

How do you start a concept?

  1. Step 1: Develop a Problem Statement. …
  2. Step 2: Select the Brainstorm Team. …
  3. Step 3: Organize the Brainstorming Session. …
  4. Step 4: Provide Background for the Brainstorm. …
  5. Step 5: Break the Ice. …
  6. Step 6: Individual Idea Generation. …
  7. Step 7: Expand Ideas. …
  8. Step 8: Select and Refine the Two to Three Best Ideas.

How do you explain a concept?

  1. Understand your audience. …
  2. Define your terms. …
  3. Classify and divide your concept into ‘chunks’ …
  4. Compare and contrast. …
  5. Tell a story or give an example to illustrate the process or concept. …
  6. Illustrate with examples. …
  7. Show Causes or Effects. …
  8. Compare new concepts to familiar ones.

What is product concept example?

Example of Product Concept


Apple

is one company which works highly on product concept to get the best products to their consumers. Apple’s products are perceived to be very high quality with innovative features and great performance. Customers go after the products of Apple and that creates a marketing pull.

How do you develop a product concept?

  1. Create a product concept. …
  2. Do your sums carefully. …
  3. Talk to the people who will buy it. …
  4. Refine your target market. …
  5. Examine intellectual property (IP) issues. …
  6. Identify the features. …
  7. Take your time. …
  8. Also consider…

How do you write a concept plan?

envision possibilities, establish priorities, and

build consensus

—right from the start. identify the best locations for play areas, plantings, outdoor learning, and more. break the project into smaller steps or phases. communicate your vision so you can begin to orchestrate funding and support.

Ahmed Ali
Author
Ahmed Ali
Ahmed Ali is a financial analyst with over 15 years of experience in the finance industry. He has worked for major banks and investment firms, and has a wealth of knowledge on investing, real estate, and tax planning. Ahmed is also an advocate for financial literacy and education.