family brand
- A brand that is used on two or more individual products. The product group may or may not be all of that firm's product line. The individual members of the family also carry individual brands to differentiate them from other family members. In rare cases there are family brands that have as members other family brands, each of which has individual brands. Automobiles fit the latter situation, as with Oldsmobile (family) Cutlass (family) Ciera (individual).
See also: brand, brand extension, branding, individual, branding, line family, multibrand strategy,
family decision making
- The processes, interactions, and roles of family members involved in making decisions as a group.
family life cycle
- 1. (consumer behavior definition) A sociological concept that describes changes in families across time. Emphasis is placed on the effects of marriage, divorce, births, and deaths on families and the changes in income and consumption through various family stages. 2. (consumer behavior definition) Families account for a very large percentage of all consumer expenditures. Much of this spending is systematic and stems from natural needs that change as a family unit goes through its natural stages of life. These range from the young single and the newly married stages to the full nest as the children are born and grow, to the empty nest and the final solitary survivor stage. Each transition prompts changes in values and behavior.
fashion product
- A subcategory of a shopping product. This subcategory contains items that are wanted by consumers for their fashion aspects.
fast food outlet
- A food retailing institution featuring a very limited menu, precooked or quickly prepared food, and take-out operations.
fighting brand
- A line extension of a main brand that is marketed by one producer to compete directly with the lower-priced products of other producers in a given market. The fighting brand usually has a separate brand identity and a low price. Its quality is usually lower than that of the main brand; it may only be temporarily on the market; and its purpose is to hold customers without having to lower the price of the main brand.
first-mover advantage
- The ability of pioneering firms to gain long-term competitive advantages due to early entry. Mechanisms that lead to first-mover advantage include preemption of competition, development of a leadership reputation, increased brand loyalty due to customer switching costs, proprietary experience curve effects, and a sustainable lead in technology due to patents and trade secrets.
See also: follower advantage, invisible assets,
flagging
- The use of special graphic techniques on the product package or store shelf to call attention to a particular offer such as a reduced price, bonus pack, etc.
flanker brand
- A line extension. Sometimes the term is meant to cover only those line extensions that are not premium-priced or low-priced.
See also: brand
flanking
- An indirect strategy aimed at capturing market segments whose needs are not being served by competitors. Flanking can be executed by targeting either a geographical segment or a consumer segment (group) that is not being well served by competitors, when the competitor is unwilling or unable to retaliate.
focus group
- 1. (consumer behavior definition) A method of gathering qualitative data on the preferences and beliefs of consumers through group interaction and discussion usually focused on a specific topic or product. Also, it is a group of respondents brought together for this purpose 2. (marketing research definition) A personal interview conducted among a small number of individuals simultaneously; the interview relies more on group discussion than on a series of directed questions to generate data. It is also called group in-depth interview.
forecasting models
- In forecasting sales, share, or other marketing objectives, a variety of models have been used, including time series models (e. g., moving averages, exponential smoothing, decompositional), econometric models (e.g., regression, input-output), and judgmental models (e.g., Delphi technique). Most common of the econometric models are those including marketing mix variables of the firm and its competitors, thus offering diagnostic insights. A brief review of the various forecasting models is offered in Lilien and Kotler (1983, Chapter 10).
See also: simulated test market
foreign marketing
- The phenomenon of marketing in an environment different from that of the home or base environment.
franchise
- The privilege, often exclusive, granted to a distributor or dealer by a franchisor to sell the franchisor's products within a specified territory. A franchise is an example of a contractual vertical marketing system.
See also: affiliated store, authorized dealer, distributorship,
fulfillment
- The gathering of orders or offers from a sales promotion event and the process of completing the event by distributing items integral to the event such as premiums, rebates, bounce back offer, or ordered merchandise.
See also: clearinghouse, refund,
funnel approach
- An approach to question sequencing that gets its name from its shape, starting with broad questions and progressively narrowing down the scope.
General Agreement on Tariffs and Trade (GATT)
- An institutional framework that provides a set of rules and principles committed to the liberalization of trade between countries.
See also: Brussels Nomenclature and Uruguay Round
Green River ordinance
- A municipal ordinance regulating or forbidding house-to-house selling, canvassing, or soliciting of business. It was first enacted in Green River, Wyoming.
garbology
- The study of consumer behavior and preferences for foods and products by examining disposed goods and other items found in the trash and garbage.
gatekeeper
- Usually, the individual who controls the flow of information from the mass media to the group or individual. It also is used to indicate the individual who controls decision making by controlling the purchase process. In a traditional family, the mother often functions as the gatekeeper between the child and his/her exposure to the mass media and the purchase of toys or products. In an organization, the purchasing agent is often the gatekeeper between the end user and the vendor of products or services.
