Final answer:
A product specification provides a detailed description of a new idea in meaningful customer terms.
Step-by-step explanation:
The detailed version of a new idea stated in meaningful customer terms is called a product specification. A product specification provides a detailed description of the product's features, functions, and characteristics, as well as any specific requirements or standards that the product must meet.
For example, if a company is designing a new smartphone, the product specification would outline the screen size, processor speed, camera resolution, memory capacity, and other key specifications that define the product.