Which of the following is a component of the marketing mix?

Promotion is a key component of the marketing mix, which traditionally includes the four Ps: Product, Price, Place, and Promotion. This framework is used by marketers to develop strategies for successfully reaching and appealing to their targeted consumer base.

Promotion specifically involves all the activities that communicate the benefits and value of a product or service to potential customers. It encompasses various tactics such as advertising, public relations, sales promotions, and personal selling. The purpose of promotion is to raise awareness, encourage interest, and ultimately drive sales.

In contrast, the other options do not directly fit into the traditional elements of the marketing mix. Customers are essential to marketing but are not a direct component of the marketing mix itself; instead, they are the target of marketing efforts. Profit is an essential outcome of marketing activities but is not one of the elements that marketers use to build their strategy. Ownership, while relevant in discussions of business models and value propositions, does not constitute part of the marketing mix either. Therefore, promotion stands out as the correct choice within the context of the marketing mix.