Final answer:
The correct answer is a product concept, which is a critical phase in a new product design project where a detailed version of a new idea is articulated in customer terms.
Step-by-step explanation:
A detailed version of a new idea stated in meaningful customer terms is called a product concept. The development of a detailed design from a design concept is a critical phase in a new product design project. This stage is not only time-consuming but also significantly impacts the eventual success of the product. A poor detailed design can indeed undermine a good design concept, demonstrating the importance of articulating the product concept in a way that resonates with potential customers and meets their needs.