The seven functions of marketing represent the core operational activities that drive business success across every industry. Understanding these functions helps Australian business owners focus their efforts and resources where they’ll have the greatest impact on growth and profitability.
Promotion encompasses all activities designed to communicate your value proposition to potential customers. This includes traditional advertising, digital marketing campaigns, social media strategies, and public relations efforts. Effective promotion doesn’t just announce your product – it persuades customers why they need it.
Selling involves the direct interaction between your business and customers to close transactions. This includes both face-to-face sales processes and online conversion optimisation.
Product/Service Management covers the entire lifecycle of your offerings, from initial development through ongoing improvements. This function ensures your products meet market demands and remain competitive over time. It includes quality control, feature updates, and discontinuation decisions.
Marketing Information Management involves collecting, analysing, and using data to make informed decisions. This includes market research, customer feedback analysis, competitor monitoring, and performance tracking. In today’s data-driven environment, this function is more critical than ever.
Pricing extends beyond simply setting prices to encompass pricing strategies, discount structures, payment terms, and value positioning. Your pricing function needs to balance profitability with market competitiveness while reflecting your brand’s perceived value.
Financing addresses how customers will pay for your products and services. This includes payment processing, credit terms, instalment options, and financing partnerships. The easier you make it for customers to pay, the more likely they are to purchase.
Distribution manages how your products reach customers, including supply chain management, logistics, inventory control, and channel partnerships. Whether you’re selling through physical stores, online platforms, or hybrid approaches, distribution efficiency directly impacts customer satisfaction.
From our perspective at Ronin, most small business owners excel at one or two of these functions while neglecting others. The key to sustainable growth is developing competency across all seven areas or partnering with experts who can fill the gaps.
