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Product design is a multidisciplinary and diverse subject. This article focuses on product conceptualization (what-to-make) and briefly reviews the corresponding manufacturing processes (how-to-make). Four product types are considered – molecular products, formulated products, devices and functional products. For molecular products, computer-aided design tools are used to predict the physicochemical properties of single molecules and blends. For formulated products, an integrated experiment-molecular modelling approach to generate the formula with the specified product attributes is followed. For devices and functional products, conceptual product design is carried out by modelling the product based on thermodynamics, kinetics and transport processes, by performing experiments, and by decision making based on experience. The results are product specifications in terms of the type of ingredients, composition, and form, shape or configuration of the product. Also discussed are the special considerations in process design to meet the demand on product qualities for devices and functional products.