Which of the following is NOT a component of a marketing plan?

A marketing plan typically includes several key components that outline how a business will promote and sell its products or services. The primary components of a marketing plan often encompass product, price, promotion, and place (the four P's of marketing).

Product refers to what is being sold, including the features, quality, and benefits. Price is about how much the product will cost and the pricing strategy to attract customers while ensuring profitability. Promotion involves the various tactics and channels used to communicate the product’s value to potential customers, which includes advertising, sales promotions, public relations, and more.

Profit, while a significant outcome of successful marketing efforts, is not typically classified as a component of a marketing plan itself. It represents the financial gains after expenses, rather than a strategy or element that directly influences how a business markets its offerings. Thus, identifying profit as a distinct component reflects an understanding that marketing plans focus more on actionable strategies and resources rather than financial metrics.