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Companies engage in the Concept Development process when they want to define alternate product concepts, investigate product feasibility, and ultimately select one or more candidates that will be pursued during product development. These days, there are no second chances. You either select the right concepts to develop, or your product fails, resulting in lost market share and dissatisfied customers, not to mention the money and time poured into a losing product. Companies need to be agile enough to explore many concepts and quick enough to narrow down the options to the concept most likely to succeed.

It's crucial to encourage innovation and set the stage for creation of big, revolutionary ideas. Capturing and formalizing concept development and involving all relevant stakeholders in the design is another challenge. It's important to "get it right the first time" by reaching customers and including their voice in review and selection of concepts. Ensuring concept designs meet the requirements during shortening design cycle times often prevents thorough exploration of alternatives.

PTC's Product Development System (PDS) delivers all the essential tools for authoring and managing a complete digital product definition. Digital concept generation tools enable brainstorming and exploration of design ideas and development of product concepts within a single environment. Concept product information is managed in a single, structured, cross-discipline product data repository that gives timely and role-based access to a globally dispersed product development team. Customers can be integrated securely and seamlessly into collaborative environments to ensure concept designs meet requirements.

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Wiki User

13y ago
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Wiki User

9y ago

The meaning of concept development is that an idea is created based on customer need. It is then set into action off of that need and brought into life through technology and resources to fill that need.

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11y ago

Development depends on both social and economic factors.Accordingly development indicators are distinguished into social indicators and economic indicators.In recent times increasing importance are given to the social indicators of development.So discussion on social indicators of development are of recent origin.

Now there is a universally accepted meaning of social indicators of development is accepted and that is clearly different from the economic indicators. everything that does not fall into the category of economy is taken as social. thus social indicators are residual category,i.e, not fall into the economic category. Social indicators of development includes health, education, housing, and employment etc. Of course, these indicators have some economic dimension. The factors responsible for overall improvement of Quality of Life are taken as social indicators. Social indicators are taken as a more wider and integrated area of social concern than that of economic indicators.

Read more: What_do_you_understand_by_social_indicators_of_development

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11y ago

Developmental means pertaining to development.

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12y ago

it means "the making of" something

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12y ago

change processes

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11y ago

Improving or building something.

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Anonymous

Lvl 1
3y ago

the concept of development is positive and progressive change. it brings gradual progress in the existing condition of the country.

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Q: What is the term meaning pertaining to development?
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