FMCG: Fast moving consumer goods. An abbreviation used to describe frequently bought consumer products, such as foods, cleaning products and personal hygiene products..

Focus Group: A group of around eight people used by market researchers to discuss products.

Freestanding Brand: (See Brand Architecture.) A brand name and identity used for a single product or service in a portfolio, which is unrelated to the names and identities of other products in the company's portfolio.

Functionality: What a product does for the buyer and user; what he or she can do with it.