In the marketing mix, which element does NOT include pricing strategies?

Merchandising is focused on the presentation and promotion of products, particularly at the retail level, and encompasses strategies related to product placement, display, and branding. While merchandising definitely involves aspects that can influence consumer perception and behavior, it does not inherently include pricing strategies, which are primarily associated with setting the price of products to maximize sales and profitability.

In contrast, the other elements of the marketing mix—product, place, and promotion—are more directly connected to pricing strategies. The product element considers the value proposition and how pricing fits within that, place involves the distribution channels and how those can affect pricing decisions based on market access, and promotion deals with how pricing can be communicated to consumers as part of a promotional strategy. Therefore, merchandising stands out as the correct answer as it lacks a direct focus on pricing strategies within the marketing mix.