Feature Story – A type of publicity material that can be used by the media at their convenience because it is not time related. A feature is often human interes0related and contains more background information than typically found in the news release. It is also known as an evergreen because of its relatively long life span.
Federal Cigarette and Labeling and Advertising Act – (1967) This act required a warning statement on cigarette packages and prohibited the advertising of cigarettes and little cigars on electronic media under the jurisdiction of the Federal Communications Commission. In 1986, these restrictions were extended to smokeless tobacco.
Federal Communications Commission (FCC) – The federal regulatory agency responsible for supervising radio and television broadcasting.
Fee Method of Compensation – The compensation method whereby advertising agencies are paid by their clients on the basis of negotiated fees for specific services rendered.
Feel-Felt-Found Method – A method used by salespeople to helpfully respond to prospect objections by showing how other prospects held similar views before buying the product or service.
Fertility Rate – The ratio of the births during a year to the total number of women ages 15 to 49.
Field Edit – A preliminary edit, typically conducted by a field supervisor, that is designed to detect the most glaring omissions and inaccuracies in a completed data collection instrument.
Field Experiment – A research study in a realistic situation in which one or more independent variables are manipulated by the experimenter under a carefully controlled conditions as the situation will permit.
Field Sales Manager – A title assigned to sales managers at regional, district branch, or unit levels in companies with large sales forces. While the lowest level of field sales management provides direct supervision of salespeople, each level has a role in the overall field sales management job of recruiting; selecting; training; compensating; motivating; assigning of territories; quotas, and expense budgets; and the measurement and control of salespeople. In companies using specialized sales forces there may be field sales management titles assigned by product lines, markets, or accounts.
Field Salesperson – A salesperson who is responsible for contacting and selling goods and services to customers in their place of business or residence.
Field Warehousing – 1. (economic definition) A financing device whereby a field warehouse receipt is pledged as security for a loan. 2. (retailing definition) An arrangement by which the owner of goods leases a portion of the storage facility to a licensed warehouser who places a representative in charge, posts signs stating that a designated portion of the warehouse is in the charge of the outside organization, and adds to or takes from stock as directed by the financial institution that has the stock as collateral.
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 a customers without having to lower the price of the main brand.
Fill Rate – An inventory’s availability goal used when setting customer service objectives, e.g., 99 percent product fill rate or filling 99 out of 100 customer orders.
Filler Sheet – A collection of brief (less than 100 words), newsworthy items related to the product or service being promoted. The media use filler sheet material when there are empty spaces in print layouts or broadcast time.
Financial Analyst – A person who investigates, evaluates, and advises clients on the value of risk of investment offerings.
Financial Quota – A quota that focuses on financial criteria such as gross margin or contribution to overhead. Financial quotas are often stated in terms of direct selling expenses, gross margin , or net profit. They are most applicable when the firm’s market penetration approaches saturation levels. In such instances, increasing sales or market share is difficult, so an emphasis on selling efficiency and cost control becomes a logical mechanism for increasing profits.
First in, First Out (FIFO) – A method for valuing inventory that assumes that the oldest merchandise is sold before the more recently purchased merchandise.
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.
Fit, Willing and Able – Under current motor carrier regulations, applicant to the Interstate Commerce Commission seeking new or expanded rights must prove they are fit, willing, and able to perform the proposed service. They are no longer required to prove the service in necessary and in the public interest.
Fixed Capital – Durable capital that may be used repeatedly over a considerable period of time.
Fixed Cost, Average – The total fixed cost divided by the number of units produced and marketed.
Fixed Cost Contribution Per Unit – The selling price per unit less the variable cost per unit.
Fixed Cost, Total – The sum of costs incurred by a firm that tend to remain at the same level (fixed) no matter how many units of ta product are produced and marketed.
Fixed Exchange Rate – An exchange rate that is fixed by the government policy and that is not free to fluctuate in response to market forces.
Fixed Stock – A definite amount of a good already produced, on hand, and ready for sale. It cannot be increased in the short run and can be decreased only by sale.
Fixed Alternative Question – A question in which the responses are limited to stated alternatives.
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.
Flagship Store – In the local department store organization, the main or downtown store especially when it is large or dominant in relation to other company stores.