Definition

Concept statement

Concept statement is a preliminary description of a business that includes descriptions of the product or service being offered, the intended target market, the benefits of the product or service, the products’ position in the market, and how the product or service will be sold and distributed.

Share it:  Cite

More from this Section

  • Burn rate
    If a firm operates in the red, its negative real-time cash flow, usually computed monthly, ...
  • Infomercial
    An infomercial is a television commercial that runs as long as a television show and usually ...
  • Classroom training
    ...
  • Competitor Analysis
    A competitor analysis is a detailed analysis of a firm’s competitors. It is a detailed ...
  • Due Diligence
    Due diligence is the process which refers to the process of investigating the merits of ...