Getting Moody: A Look at Inspiration and Style in Early Design Techniques

http://viget.com/inspire/getting-moody

Shared this link to explain a clear details for product concept board, It might be useful.

What is a mood board?

Mood boards, being a lot like they sound, are typically used to help establish a style, theme, expression, environment, atmosphere, or feeling. They often consist of found objects from magazine tear outs or digital imagery to fabric or color swatches, but really can be anything that inspires (like a favorite saying, or phrase, for example). We'll collect these inspirational tidbits to help establish a general look and feel direction prior to jumping head first into a full, precise design. It's all about starting loosely and getting specific as you progress through the design process.

Why they are helpful

For a company providing fixed bid work, one of the worst things that can happen is to spend substantial budgeted hours on getting the design right for an initial presentation only for it to fall flat with the client. By abstracting the design through several variations up front without spending exhaustive hours on it, we can get a general direction to proceed. If a client can see about three distinct stylistic directions and clearly articulate their impressions and feelings of each, we'll get the feedback necessary to create a full composition; thereby moving a crucial step closer to a completed design the client adores. The sin of starting all over again after an initial presentation can often leave both the client and agency defeated. Mood boards allow a designer to start broadly and get more specific over time by including the client in the process along the way. Think "wire framing" in the practice of user experience design. The same can be done with visual design.

How they are used

The most common outcome of a mood board is a color palette, but they also help in choosing textures, imagery and general inspiration. In graphic design, we use them to help establish typographic directions and hierarchy. Should a design use serif type for a classic feel or san-serif type for a more modern feel? Or, should the design have a mixture of classic and modern? More specific to web design, we can use them to propose button styles, form elements, iconography, photographic treatments, and additional typographic elements (headers, sub-heads, paragraphs, etc.).
Consider the term "mood board" as an over-arching reference to at least two more specific meanings.