Family brand name |
A family brand name is used for all products. By building customer trust and loyalty to the family brand name, all products that use the brand can benefit. |
Family life cycle |
The stages of family life based on demographic data that are useful in defining the markets for certain goods and services. Each group has its own specific and distinguishable needs and interests. |
Fast-moving consumer goods |
Fast-moving consumer goods are those that sell in high volumes, with low unit value, and have fast consumer repurchase. Good examples include ready meals, baked beans, newspapers etc |
Focus group |
A small group of sample customers who are brought together into a group discussion to measure their response to a marketing stimulus such as a new brand or product |
Forecasting |
The process of estimating future demand by anticipating what buyers are likely to do under a given set of marketing conditions (e.g. economic confidence, disposal income, pricing levels) |
Franchising |
The selling of a licence by the owner (franchisor) to a third party (franchisee) permitting the sale of a product or service for a specified period. In business format franchising the agreement will involve a common brand and marketing format. Many service businesses are operated under franchise include well-known brands such as Burger King, KFC and KwikPrint |
Full cost pricing |
Full cost plus pricing seeks to set a price that takes into account all relevant costs of production |
