Which of the following is NOT one of the 7 P's in the extended marketing mix?

The extended marketing mix, often referred to as the 7 P's, includes Product, Price, Place, Promotion, People, Processes, and Physical Evidence. Each of these elements plays a significant role in shaping marketing strategy and delivering value to customers.

One of the components of the 7 P's is Processes, which refers to the systems and procedures that contribute to delivering a product or service. People encompass everyone involved in the service delivery, including employees and customers, while Physical Evidence pertains to the tangible aspects that support the service experience, such as signage, brochures, or the environment where the service is delivered.

Policies, however, are not recognized as one of the 7 P's. While policies may influence the operational aspects of a business and affect customer interactions, they do not fit within the traditional framework of the marketing mix. Thus, identifying Policies as not part of the 7 P's is correct, as it emphasizes understanding the core elements that constitute the extended marketing mix.