What is a Product Matrix?
A product matrix is a chart that describes the various products a business offers and the features that apply to each product. Product matrices typically assign each version of a product its own column along the top, with the features included in each version listed in rows down the lefthand side.
Example
A software company might create a product matrix to assess its range of software solutions. Each solution could be plotted on the matrix based on criteria such as complexity, target market, pricing tier, and unique features. This visual representation allows the company to identify gaps in its product lineup, prioritize development efforts, and tailor marketing strategies to specific customer segments.