Which factor is NOT a component of the marketing mix?

The marketing mix traditionally consists of four key components: Product, Price, Place, and Promotion. These elements are often referred to as the "4 Ps" of marketing. Each component plays a crucial role in developing a marketing strategy that meets consumer needs and drives business success.

While “People” is an important aspect in the broader context of marketing, particularly in service industries where customer interactions are key, it is not traditionally considered one of the core components of the marketing mix. Instead, "People" may intersect with other elements of the mix, especially in shaping customer experiences and within service marketing frameworks, such as the expanded 7 Ps model, which includes Process, Physical Evidence, and People alongside the traditional 4 Ps.

In summary, the correct identification of "People" as NOT a component of the classic marketing mix highlights its distinct role within marketing strategies, while the other options represent fundamental elements that directly influence product positioning and customer engagement.