ENTREPRENEURSHIP

Detailed explanation-1: -The Marketing Mix refers to a tool used by the entrepreneur to position the product in the target market segment to efficiently and effectively deliver it to the consumers and to convince them about the benefits that they will derive from buying the product. The marketing mix is also known as the Ps in marketing.

Detailed explanation-2: -What are the 4Ps of marketing? (Marketing mix explained) The four Ps are product, price, place, and promotion. They are an example of a “marketing mix, ‘’ or the combined tools and methodologies used by marketers to achieve their marketing objectives.

Detailed explanation-3: -In the line extension approach, the existing product has been modified or altered resulting in a new product or more products without eliminating the original product. The new additional product must be within the same category.