Product Concept and Product Vision
Question: In the PMTK Product Requirements Document (PRD), section 1.4, we are requested to outline the product concept. Can you please elaborate on what is a product concept and what the difference is between a product concept and a product vision?
A Product Concept is a general description of the proposed product, its functions, and capabilities.
A product concept is generated before any development or design work, is focused on the product's architecture and features, and considers and reflects the best answer to markets needs, desired customer experience, realistic product production cost, and an attainable price to the customer.
The essence of the suggested product described in the product concept is realized with the Sales Axioms, which identify and explain the fundamental concepts that the product is built upon.
See the PMTK Sales Axioms template.
The concept of a product vision and mission is dated, but there is renewed interest in it.
The idea of a product vision, in particular, seems to be related to the Scrum software development method, although it is absent from the Scrum Guide.
There were numerous competing attempts to define a product vision and mission. They range from simple statements to rather elaborate descriptions.
These definitions sometimes model themselves after existing techniques, such as a product roadmap or a product positioning statement.
The notion of a product vision is borrowed from the Corporate Mission and Corporate Vision concepts, extensively used in business management, that describe the general business direction and company purpose.
Alas, it is not possible to leverage the idea of a corporate mission and vision to a product vision and mission because the corporate mission and vision statements deal with the impact and actions of a company.
Explore the Blackblot PMTK Methodology™ for the definitive answers, clarity, and consistency in product management and product marketing.