A product matrix is a diagram that shows all of the things that a firm sells, as well as the characteristics of each one. Each edition of a product often has its own column at the top, with the features of each version displayed in rows along the lefthand side.
A company selling three variants of the same product with 10 different characteristics, for example, may create a product matrix with three columns and ten rows. To indicate that this functionality is available in this version of the product, the company can place a symbol or checkmark in each cell where a column and row intersect.