Which of the following is not a component of the marketing mix?
Answer Details
The term you are referring to is "Production."
Production is not a component of the marketing mix. The marketing mix is a concept used to describe the four main elements that make up a successful marketing strategy. These four elements are known as the "4 Ps":
1. Product: The product or service that is being sold.
2. Place: The location where the product is sold, such as a physical store or online marketplace.
3. Promotion: The ways in which the product is promoted and marketed, such as advertising, sales promotions, and public relations.
4. Price: The price at which the product is sold.
Production is a separate concept that refers to the creation of a product or service. While production is an important aspect of the overall business strategy, it is not considered one of the four main components of the marketing mix.