Commerce.AI for product concept and development
Product conception is an old art, but the underlying principles are still valid. The main principle is that people buy for a reason—they want to solve a problem or meet an unmet need.
After all, guesswork will inevitably lead to a product that consumers don't want or need, which will fail in the market. Therefore, product teams need to first conduct extensive market research in order to understand consumer wants and needs before the product ideation process.
Let's explore the following areas within product concept and development in the next subsections:
- Market research
- Understanding demand
- Product ideation
Market research
The product development workflow starts with market research, followed by concept ideation, design, and engineering. This is how most products are launched into the market. But in a world of on-demand AI solutions that can provide data insights from inception, many companies...
