A product concept can play a vital role in the new product development. In this chapter we focus on the product itself, they are not only tangible but they play a good role for service. Product itself is broken down to two different categorizes, business product which is good use for manufacturing other goods and services & then there is consumer product which satisfies a individual personal wants.
Ferrari falls in the category of business product and not much of consumer product.
Ferrari uses product concept in order to receive feedback from consumers as to implementing and and furthering the proposed concept. They then try to use the feedback and apply it to the idea of the next new product idea.
With people being more awake of the environment, Ferrari is slowly taking steps to make themselves more Eco-friendly. They recently reveled their new Eco-friendly car the Ferrari 599 Hybrid. They released this car as a concept vehicle but just as product concepts it serves a image of what they will be doing to improve the future step by step.
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