MANAGEMENT

Detailed explanation-1: -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-2: -To extend the product life cycle, successful companies can also implement new advertising strategies, reduce prices, add new features to increase their value proposition, explore new markets, or adjust brand packaging.

Detailed explanation-3: -Product quality is important because it affects the success of the company and helps establish its reputation in customer markets. When companies can create high-quality products that continue to meet customer demands, it can lead to fewer production costs, higher investment returns and increases in revenue.