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The
marketing mix is a business tool used within marketing and by
entrepreneurs. The marketing mix is often crucial when determining a
product or service or brand’s offer, and is often associated with the
4P’s, they are Product, Promotion, Price and Place. Every product is
subject to a life-cycle including an improvement phase followed by a
maturity phase lastly an eventual period regarding decline as sales
slide. Marketers must do careful research on how long the life cycle of
the product they are marketing might be and focus their awareness on
different challenges that arise since the product moves.
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