What term coined by Michael Porter describes a tool that can be used to show how nearly every industry can be broken down into smaller pieces known as segments?
A)Industry breakdown matrix
B)Industry five forces matrix
C)Industry value creation matrix
D)Industry segmentation matrix
E)Industry dimensions matrix

Question

Quizplus · Accepted Answer

Michael Porter coined the term "industry segmentation matrix" to describe a tool that can be used to show how nearly every industry can be broken down into smaller pieces known as segments. This tool helps in identifying and analyzing different customer groups, their needs, and preferences, which can help in designing a targeted marketing strategy. The other options, such as industry breakdown matrix, industry five forces matrix, industry value creation matrix, and industry dimensions matrix, are not the terms used by Porter to describe this particular tool.

What Term Coined by Michael Porter Describes a Tool That