The marketing mix is the collection of activities, or methods, that a business employs to sell its brand or merchandise price. A typical marketing mix is comprised of the four Ps: price, product, promotion, and place.
Today, however, the marketing mix is progressively including several more Ps as essential marketing mix components, such as Packaging, Positioning, People, and even Politics. The product life cycle has four unique phases: introduction, growth, maturity, and decline. With each step, the product's marketing positioning evolves price. You can use a range of marketing strategies to try to lengthen the life cycle of your products at each stage.
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