City Brand is made from all these components - position, place, people, infrastructure, way of living, atmosphere... all components have their role and position in city branding...
For me, the most important component are people - the way they behave, live, work, study, raise their children, talk to visitors about their city... maybe because of the fact I am a lecturer of the Human Resource Management where I teach my students that employees are the most important component of company success - each company can have the best place, building, technology, equipment - but employees and their ideas, knowledge and skills are differentiating factor!
City branding focuses on what makes a certain city unique from other cities..specifically its mission, vision, values, culture( how people live within that city) and its urban design,
I think for city to became brand, it needs all 5 traditional P to emerge. It also needs its Marketing Mantra, Symbol (Eiffel Tower, Big Ban and etc.), Atmosphere and its history to be told as the story of product.