I have a product idea for a very specific niche (university students living on campus). When does the product validation take place? before creating a simple business plan and a website? or after having the website and social media running?
Product validation should occur prior to spending anytime on a plan or code - because it currently is just an idea. Ideation is the process of talking to your suspected-market and getting feedback "If this existed, would you use it? If not, what would make it interesting? If so, what others things am I missing?".
I would not spend any money until you have talked to 50 to 100 people in your target market about the idea.