concept

  

Definitions (3)

1. Advertising: A briefly stated clear idea around which an ad or marketing campaign is organized.
2. Product development: A clear, detailed description of the attributes and benefits of a new product that addresses the needs of the targeted customers.
3. The reasoning behind an idea, strategy, or proposal with particular emphasis placed on the benefits brought on by that idea. Examples of concepts include the design for a new automobile or the pitch behind an advertising campaign.

Business Tips

Locking In Customers

Customer lock-in (that is, their cost to switch to another provider) is an important concept in business. If lock-in is low you're less likely to be able to retain the customer, but if lock-in is thou ... Read more

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