A concept is an idea or a plan that is used as the basis for something, such as a new product or service. In the business world, a concept is often used in the early stages of developing a new product or service.
A concept can be something as simple as an idea for a new product or service. It can also be a more complex plan that includes market research, feasibility studies, and other information. Once a concept has been developed, it can be used to create a prototype or sample of the product or service.
If you’re thinking about starting your own business, you’ll need to come up with a concept for your business. This can be a challenging task, but it’s important to take the time to develop a well-thought-out concept.
Your concept should include information about what your business will do, who your Target market is, and how you will make money. Once you have a concept for your business, you can start working on developing a business plan.