This thesis is an initial attempt at analyzing the "product-process matrix," a framework suggesting the interaction of product and process life cycles. The objectives of this thesis were to test the theory surrounding the "product-process matrix" and also test theories concerning the transition of strategic objectives between "product-process matrix" regions. The methodology included conducting a survey of Virginia manufacturing firms on strategic concerns, constructing a database into which survey responses were loaded, and analyzing survey responses. Results of this survey suggested that the theory surrounding the "product-process matrix" may be inappropriate. Results also indicated the possibility that row and column descriptions of the current "product-process matrix" may need alterations in order to be more applicable to manufacturing firms. Further research is necessary to examine possible biases associated with the survey instrument and survey sample. After such research has been undertaken, it is recommended that continued work in this area may help to improve understanding the interaction between markets and manufacturing processes. / Master of Science