Define a matrix diagram. What are the steps involved in constructing a matrix diagram?
What will be an ideal response?
A matrix diagram is similar in concept to quality function deployment in its use of symbols, its layout, and its application. It is a brainstorming tool that can be used in a group to show the relationships between ideas or issues. The steps involved in constructing a matrix diagram are as follows:
• Determine the number of issues or dimensions to be used in the matrix.
• Choose the appropriate matrix.
• Place the appropriate symbols in the matrix.
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Indicate whether the statement is true or false
A market segment is less attractive when ________
A) there are few aggressive competitors in the segment B) it is difficult for new entrants to enter the segment C) it contains powerful suppliers who can control prices D) substitute products are unavailable in the segment E) buyers in the market segment have weak bargaining powers