Which of the following is NOT typically a component of promotion?

Pricing strategies are not typically considered a component of promotion. Promotion primarily encompasses various methods and tactics used to communicate with potential customers and persuade them to purchase a product or service. It includes advertising, which involves paid media placements to reach a broad audience; public relations, which focuses on managing the public perception of the brand through media engagement and community outreach; and sales promotions, which are short-term incentives designed to encourage immediate purchases, such as discounts, coupons, or special offers.

In contrast, pricing strategies relate more to setting the price of a product or service based on factors like cost, competition, and customer perceived value. While pricing can influence demand and consequently the success of promotional activities, it is fundamentally distinct from the promotional activities themselves, which are geared toward generating interest and sales through communication and engagement techniques.