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| There are 76 entries in the glossary. |
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| FAB | features and benefits selling
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| FAB's | features advantages benefits - the links between a product description, its advantage over others, and the gain derived by the customer from using it, one of the central, if now rather predictable, techniques used in the presentation stage of the selling process
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| face-to-face selling | selling situations in which salesperson and buyer meet together (rather than use telephone or mail, for instance) to conduct their business
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| facilitating channel institution | an agency or organisation, such as a bank, transport company or insurance agency, which provides specialised assistance to members of a marketing channel, the facilitating channel institution does not take title to the goods
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| factor analysis | a statistical procedure for trying to discover the basic factors that may underlie and account for the correlations among a larger number of variables, for example, factor analysis might be used to determine and interpret the basic factors underlying some negative attitudes towards the purchase and use of male toiletries and cosmetics
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| factory outlet | a retail store that sells the products of one manufacturer, usually at very low prices
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| fad | a product, especially a fashion, that comes quickly to the attention of an eager public, achieves peak sales in a relatively short time, and rapidly declines in popularity, that is, a popular product with a particularly short life cycle
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| family brand | a brand name used for a number of products in the same line, such as Revlon cosmetics or Heinz canned foods, also referred to as a blanket brand
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| family life cycle | a series of stages through which the typical family passes, including bachelor stage, young marrieds, full nest, empty nest and sole survivor
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| farmer | a sales professional responsible for growing sales from existing accounts
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| fast moving consumer goods | a term used in reference to frequently purchased consumer goods, such as foodstuffs, toiletries, etc
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| feature | an aspect of a product or service (i.e. color, speed, size, weight, type of technology, buttons and knobs, bells and whistles , technical support, delivery, etc)
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| feature modification | a change made to any feature of a product in order to make it safer, more useful or more valuable to a purchaser, also called functional modification
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| features | prominent or distinctive characteristics of a product's use, construction or design, also referred to as attributes
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| features and benefits selling | a selling style in which a salesperson is careful to relate each feature of the product being presented to a particular benefit which the feature will deliver to the buyer
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| feedback | the mechanism in the communication process which allows the sender to monitor and evaluate the receiver's response to a message
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| field | anywhere out of the sales office, field sales people or managers are those who travel around meeting people personally in the course of managing their sales territory, to be field-based is to work in a sales territory as opposed to being (head) office office-based
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| field sales manager | a sales manager whose prime responsibility is for the supervision of the sales force in its outside selling activities, generally, the field sales manager will have only minimal involvement in the internal, administrative sales management operations
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| field selling | face-to-face sales calls made by company representatives on customers in their homes or places of business
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| financial leverage | a measure of the extent to which a firm uses debt in its total capital structure; the higher the component of debt the more leveraged is the firm, leverage is calculated by dividing total assets by equity
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| financial resources | the availability of money in the form of cash, securities, creditors, loan facilities, etc possessed by a company
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| financial risk | concern in the buyer's mind that the product being considered for purchase is too expensive, or will be a waste of money
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| fishyback | a term used in the physical distribution of goods to refer to a system of transportation requiring the transfer of containers from truck to ship see birdyback and piggyback
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| fixed-sum-per-unit | an approach to promotional budget setting in which the total to be spent in a given period is the sum of a certain set amount allocated to each item produced
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| flexible pricing | a pricing method in which the price charged for some consumer shopping goods and specialty goods and for many industrial products is open to negotiation between buyer and seller, also known as multiple pricing and variable pricing
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| flighting | scheduling advertising campaigns in irregular bursts followed by periods of relative or complete inactivity, see continuity and pulsing
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| floor price | see price floor |
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| fluctuating demand | demand in the industrial sector which rises and falls sharply in response to changing economic conditions and consumer spending patterns
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| flyer | a promotional leaflet or mailing piece
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| FOB | free-on-board
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| FOC | front of counter
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| focus group | a qualitative marketing research technique in which an independent moderator interviews a small group of consumers from the target market in an informal setting to get an immediate market reaction to a new product or brand name, to generate new product ideas, etc also referred to as a customer panel
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| follow-the-leader pricing strategy | a pricing strategy adopted by firms which copy the market leader's prices
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| follow-the-leader strategy | decisions and actions taken by a firm which chooses to follow the market leader as an alternative to challenging it, essentially reactive, follow-the-leader strategies, also known as "me-too" strategies, minimise the risk of retaliation which might result from an attack, direct or indirect, on the market leader's share
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| follow-up | the vital final stage in the selling process; the salesperson's call-back upon a client after the ordered goods have been supplied to check that all has been handled to the buyer's satisfaction
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| forecast | a predicted amount of revenue generation for a particular time period and/ or area of geography and/ or industry, can also be used to describe a sales target (in revenue and/or units) for a specified time period, also referred to as a quota, budget or goal
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| forecasting | predicting future variables, such as the level of sales in a given period, the environmental factors that will influence the firm's performance, etc
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| foreign currency exchange rate | the price of one country's currency expressed in terms of the currency of another country
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| foreign market entry | expansion by entering an overseas market, the four possible ways of entry an overseas market are by exporting, licensing, joint venturing or direct ownership
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| form utility | the value given to a product by virtue of the fact that the materials and components which comprise it have been combined to make the finished product
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| formal approach | an approach to selling in which the salesperson uses a formula such as AIDA - awareness, interest, desire, action - as a guide to taking the buyer from one stage of the buying process to the next, also called the mental states approach
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| formal training | training given in a classroom setting as opposed to that given in the field
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| formula marketing | a term used to describe an approach to marketing practice which relies heavily on conventional wisdom and spurns anything innovative
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| forward buy | the placement of an inventory purchase order earlier than required in order to take advantage of a special price offer, or similar
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| forward integration | a strategy for growth in which a company develops by seeking ownership of, or some measure of control over, its distribution systems
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| four P's | the four major controllable variables of the marketing mix - product, price, promotion and place
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| franchise | a business model where a franchisee purchases the right to trade in goods or services, within the terms of a franchise agreement |
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| franchise agreement | a legal contract setting out the operational terms and conditions of a franchise business, this usually covers franchisor and franchisee responsibilities, lease agreements, intellectual property, marketing and payments |
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| franchisee | a person or business that legally purchases the right to operate a franchise outlet |
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| franchising | an arrangement in which a supplier grants a dealer the right to sell a product in return for some percentage of the total sales, typically, the supplier provides buildings and equipment, management advice and marketing assistance to the franchisee, who agrees to operate according to the franchisor's general rules
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| franchisor | a person or business that owns a franchise and agrees to sell the rights, within terms of a franchise agreement |
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| free market | a market place which has minimum direct involvement of government in market decisions
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| free-alongside-ship pricing | a pricing approach in which the manufacturer pays the freight cost to the wharf, costs associated with loading and shipping are borne by the purchaser
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| free-form presentation | a selling approach which does not rely upon any set formula or method
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| free-in-store pricing | a pricing method in which the producer is responsible for all freight and delivery cost, the ordered goods are delivered freight free to the customer
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| free-in-the-mail premium | a type of sales promotion in which consumers are offered a gift which is sent to them by post in return for proof of purchase of the product
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| free-on-board pricing | a pricing method in which a producer bears only the costs involved of delivery of goods "free-on-board" to a local carrier's dispatch point, at that time, title for the goods passes to the purchaser, who is responsible for the remainder of the freight charge
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| free-standing inserts | brochures, leaflets and similar advertising material distributed with magazines and newspapers as loose inserts
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| free-standing retailer | a retail store, not located in a shopping complex with other retailers, having its own premises and parking area
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| freight absorption pricing | a pricing method in which the manufacturer bears some or all of the freight costs involved in transporting the goods to the customer
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| freight charges | transportation costs involved in shipping goods from producer to customer
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| freight forwarders | firms specialising in the supply of transportation services, by buying large volumes of land, sea, air and pipeline transportation at low rates, they are able to offer attractive rates to small businesses whose products they combine into large shipments
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| frequency | the number of times the target consumer will be exposed to the message during the specified period of the campaign
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| Freudian motivation theory | the theory that a consumer's buying preferences are dictated by unconscious motives, and those visual, auditory and tactile elements of a product may evoke emotions which stimulate or inhibit purchase, see motivation, Maslow's theory of motivation, Herzberg's theory of motivation
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| fringe benefits | benefits enjoyed by employees as part of a total remuneration or compensation package
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| front-of-counter | the prime and most sought after position for impulse goods, hence, front-of-counter (or FOC) display pack
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| full cost pricing | a pricing strategy in which all relevant variable costs and a full share of fixed costs directly attributable to the product are used in setting its selling price
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| full line department store | a department store which offers many different lines of products, including clothing, sporting goods, food, furniture, electrical goods, etc, and many different services, including wrapping, delivery and credit
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| full nesters | a term used to describe the stage in the typical family life cycle in which the household consists of parents and growing children, three sub-stages of "full nesters" are used by marketers in targeting their products: Full Nest 1, where the youngest child is under six years of age, Full Nest 2, where the youngest child is over six, and Full Nest 3, where the household consists of parents and older dependent children
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| full-line strategy | the decision by a producer to offer a large number of product variations in a product line
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| full-service wholesaler | a wholesaler offering a complete range of services including buying, selling, storage, transporting, sorting, financing, providing market feedback and risk-taking, also called a full-function wholesaler
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| function | in the context of an organization, this is the job role or discipline (i.e. sales, marketing, accounting, customer service, information technology, human resources, etc)
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| functional costs | costs associated with a specific business activity, such as selling, advertising, marketing research, etc
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| functional discount | a price allowance given to a firm performing some part of the marketing function for other members of the channel of distribution, also called trade discount
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| functional organization | the organization of a firm's business activities so that a separate division is responsible for each business function - production, finance, personnel, marketing, etc, the organization of a firm's marketing activities so that a separate division is responsible for each marketing function - planning, research, sales, advertising, distribution, new product development, etc |
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| functional wholesalers | agents, brokers, commission merchants, etc who facilitate exchanges between producers and resellers and receive commissions for their services, also referred to as functional middlemen
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Glossary V2.0 |
