What is created during the concept development phase to clarify the product?

During the concept development phase, a detailed written document is created to clarify the product. This document serves as a comprehensive blueprint that outlines the product's features, specifications, and market position. It is crucial for stakeholders to have a clear understanding of how the product will function, the problems it will solve, and its expected benefits to consumers.

By creating this written document, businesses can better communicate ideas to team members, identify potential challenges early on, and ensure that everyone is aligned on the product vision. It also acts as a reference point for further stages in the product development process.

In contrast, while a marketing pitch, financial forecast, and competitive analysis provide important information for understanding market dynamics and financial viability, they do not specifically focus on clarifying the product itself during the initial concept development phase as effectively as a detailed written document does.