Marketing Terms and Definitions

KnowThis.com offers a detailed list of marketing terms that includes definitions and links to more detail found within our Principles of Marketing Tutorials. For most terms to learn more click on the For More See link.

• Family Branding

  A branding strategy in which products are given brand names that are closely connected or share the same overall name as an existing brand.
  • For More See: Approaches to Branding

• Features

  Characteristics of a product that offer functional and/or psychological benefits to a customer.
  • For More See: Consumable Product Features

• Final Customer Packaging

  The package containing the purchased product the final customer receives in exchange for payment.
  • For More See: Packaging

• Fixed Costs

  An important component in determining the cost of a product, these represent costs the marketing organization incurs for a product regardless of level of production or sales.
  • For More See: Pricing Factors: Costs

• Focus Groups

  Method of data collection, often associated with Qualitative Research, in which a group of respondents (generally numbering 8-12) are guided through discussion by a moderator in the hope that group interaction will stimulate comments that may not otherwise be elicited.
  • For More See: Qualitative Research Types

• Former Customers

  Consists of those who have formerly had relations with the marketing organization, typically through a previous purchase, but have not purchased from the marketer within a certain timeframe.
  • For More See: What is a Customer?

• Franchise

  Retail format represented by a contractual arrangement in which franchisees (i.e., retail store operator) agree to pay for the right to use a franchisor’s (i.e., retail business owner) business methods and other business aspects such as the franchise name.
  • For More See: Retail Formats: Part 2

• Franchised Channel Arrangement

  A form of contractual dependent channel arrangement where a central organization (franchisor) controls nearly all activities of other members (franchisee).
  • For More See: Channel Arrangements: Dependent

• Full-Service Market Research Firm

  Research companies that develop and carryout all aspects of a market research plan for their clients.
  • For More See: Primary Research

• Functional Benefits

  Benefits customers receive that are directly associated with the materials, design and production decisions of the consumable product such as ease-of-use, increased speed and cost savings.
  • For More See: Consumable Product Features