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The Product Concept Definition Form

Mature ideas often need to be articulated as product or feature proposals. Instead of lengthy documents and presentations, start with a single-page descriptor that makes the communication easier and increases stakeholder engagement. This template comes as a fillable MS Word document (.docx) Discover more at https://www.theinnovationmode.com/innovation-toolkit

Uploaded by

George Krasadakis
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© Attribution Non-Commercial No-Derivs (BY-NC-ND)
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133 views3 pages

The Product Concept Definition Form

Mature ideas often need to be articulated as product or feature proposals. Instead of lengthy documents and presentations, start with a single-page descriptor that makes the communication easier and increases stakeholder engagement. This template comes as a fillable MS Word document (.docx) Discover more at https://www.theinnovationmode.com/innovation-toolkit

Uploaded by

George Krasadakis
Copyright
© Attribution Non-Commercial No-Derivs (BY-NC-ND)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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The Innovation Mode

PRODUCT CONCEPT DEFINITION Your Company Name


Use this form to articulate a Product concept with clarity. Focus on the core logic and
how it serves its customers and creates value for the business. Ideally limit it to one
page. Start by saving a copy of this file - with a proper name - then just fill in the
gaps.

Instructions on how to use this form at the end of this document


Discover additional templates: theinnovationmode.com/the-innovation-toolkit

A: SET THE CONTEXT

Title A compact, single-sentence description of your product concept


Describe your concept in a
single sentence, e.g. ‘An
online service helping
students select university’

The Situation Set the context – why this product needs to exist
The problem, the
market, the key-players,
the conditions

B: USERS & THEIR NEEDS

Roles & Persona Profile summary


Personas
e.g. Young professional Briefly describe the profile of the persona
Who is going to benefit
by this product? Name
here the most e.g. New parent Briefly describe the profile of the persona
important profiles in the
context of your product
- e.g. students, e.g. University Student Briefly describe the profile of the persona
professionals, athletes
etc.
e.g. Programmer Briefly describe the profile of the persona

e.g. business manager Briefly describe the profile of the persona

Epic User ID Epic Story


Stories
1 As a <user> I want to <do something> so that <I get some value>
Identify the top 5
features of your
product. Articulate them 2 As a <user> I want to <do something> so that <I get some value>
as Epic User Stories e.g.
‘As an athlete I want to
keep track of my daily 3 As a <user> I want to <do something> so that <I get some value>
intake of xyz
ingredients so that I
maintain the required
4 As a <user> I want to <do something> so that <I get some value>
balance’
5 As a <user> I want to <do something> so that <I get some value>

C: IMPLEMENTATION PATHS

The Innovation Mode ● Product Concept Definition


This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0
International License Page 1 of 3
Form Factors Briefly describe the potential form factors of the product
Describe the envisioned
product - how would it
look like? List multiple
possible forms.

Strategy Briefly describe the possible form factors of the product


Summarize the strategy
to build it, launch it and
drive growth

Involved Tech Describe the apparent technologies involved


Describe the obvious
technology involved
e.g. mobile app, Virtual
or Augmented Reality

D: MONETIZATION AND GROWTH

Monetization Describe how the product would create profit


Model
Describe the basic
monetization logic, e.g.
subscription services,
freemium model etc.

Value List the key assumptions


Hypotheses
The assumptions under
which the product create
value for its users

Growth List the key growth assumptions


Hypotheses
The assumptions
involved in adoption and
growth scenarios

E: OPEN QUESTIONS

Critical Questions Append here your open questions regarding the concept
All the open items that
must be answered during
the definition/ validation
of the product.

F: DOCUMENT MANAGEMENT

Business Area The business entity owning this concept

The Innovation Mode ● Product Concept Definition


This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0
International License Page 2 of 3
Compiled by The owner of the document On 02 October 2020

HOW TO USE THIS DOCUMENT


Use this form as a guide helping you to define a more mature idea – as product concept. This is more than
just a ‘business idea’, you are expected to describe personas, features as Epic user stories along with
elements of strategy, monetization and growth drivers.
1. Save a copy of this form with a name reflecting the product concept -e.g. my_team_name-
product_name-concept_name-mm-yyyy.docx
2. Fill in the gaps and select the components that best describe your concept.
3. Share the document as candidate product features or a product proposal.
4. Keep it up to date and ensure that you reflect the feedback you capture from stakeholders.
5. Consider linking this document with actual entries in your product backlog

Repeat the same process when there are additional product concepts to capture. Consider implementing this
form as part of an innovation management or product development system - contact us for free advice.

The Innovation Mode ● The Innovation Toolkit ● The Product Concept Form
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License

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The Innovation Mode ● Product Concept Definition


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