The concept for monitoring the product or service lines is called; Product Life Cycle. There is a graph of this life cycle in our text Essential of Strategic Management on page 265. Authors Hunger &Wheelen (2013) describe as "the product life cycle as a graph showing time plotted against the dollar sales of a product as it moves from introduction through growth and maturity to decline" (p. 265).
Can you give an example of a health care product that relates to the Product Life Cycle? What are some of the variables that drives the maturity or decline?
Hunger, J. D., &Wheelen, T. L. (2013). Essentials of strategic management (7th ed.). Upper Saddle River, NJ: Pearson Education.