When you tried to create a new VM using VM player 6.0.2 with Windows 2012 as the guest OS, you may get error while guest OS installation.
The error will tell "Microsfoft Terms not able find..." and installation can not continue.
Follow below steps:
1. When you create VM by clicking on "New VM" option in player., Uncheck the install OS from drive or USB option and select install OS later option.
2. After VM is created with specified Hardware configuration, configure CD/DVD drive to your OS media and start the installation.
3. You can see, OS gets installed with out any problem. It is a know bug in VM Player