Page 231 - Marketing the Basics 2nd

glossary 223
Fast follower A nimble competitor who can enter profitable markets quickly.
Fixed costs Expenses incurred by the business that remain constant despite the level of production.
Foreign direct investment The money spent by an investor to create a business overseas.
Following-up The final step in the selling process where the sales- person contacts the prospect after completing sale ensuring the customer is satisfied with the product.
Forward invention Creating a new version of an existing product to suit the local needs or taste of a market.
Frequency The number of times a person is exposed to an adver- tisement.
Gatekeepers The individual(s) who recommends a list of vendors who sell products that could be of use to solve a company’s needs.
Gender segmentation Dividing a market according to gender. Geographic segmentation Dividing a market into smaller
geographical units.
Geographical pricing A pricing method whereby the price charged differs in different geographic locations.
Going-rate pricing A pricing method used for commodities where the price charged is the same charged by the competition.
Grey marketing Products sold through marketing channels not approved by the manufacturer.
Gross domestic product (GDP) The national production of a country in a year including exports.
Group pricing A pricing method whereby a group of buyers agree to share resources to increase their bargaining power with a much larger sized supplier.
Groups Two or more people interacting together for a common purpose.