Product Concept Statement Description of the Product or service. The intended target Market. Target market = who you will sell to/who will buy it. How many of these entities are there? Benefits of the product or service from the customer’s eyes. Description of how the product or service will be positioned relative to the competition. Position– who is your competition, how are you Unique, why you versus them when the wallet is out? How long it will take to make the first one – approximate but be able to defend. Length of assignment: In general for the project moving forward: It is not intended that the person who pitched the idea takes the lead. This is a group project & all must participate equally. You can change your product as you need, but you must have some basis for making the change. This will be discussed more in class. I do not want to see the same person each week being the “mouthpiece” for your group. Pass the baton each time.