Exam 2 - LO1

Question 1

What are the three goals of a media product?

Answer 1

• Entertain (gaining the attention of the audience so they relax and enjoy the topic/action)
• Inform (provide facts about a topic or answering a question)
• Promotion (Raising the awareness of a product for potential customers)

Question 2

Why and when must a Budget be set and what will it include?

Answer 2

a budget must be set at the very start of the media product creation as it will outline how much the company has to spend and ensures that what they plan is financially viable. Examples of what they must consider are:
- Staffing, locations, legal costs (properties rights, copyright etc), premises, transport, resources, catering.

Question 3

Explain what a sponsorship is and how it generates revenue for a company?

Answer 3

A sponsorship provides money to a company in order to get their brand, logo or name shown in the product. This benefits both companies as the production company gets more revenue and increases the budget and the sponsors get their brands seen.

Question 4

Explain what crowd funding is and how revenue is generated from it?

Answer 4

Crowd funding is funding that comes from a group os strangers and public, who are interested in supporting the project. In return the investors may get their names in the credits etc. The most common website for this is Kickstarter.

Question 5

Explain what corporate finance is and how it generates revenue?

Answer 5

This is money that is invested by another company, who will receive something in return for their investment, may be royalties or licensing rights or even a return on their investment.

Question 6

Explain how advertisement generates revenue and how it works?

Answer 6

This is similar to sponsorships but instead of integrated advertising they shown separate content within a show or video, presenting the product. This is typically an advert that is shown by a tv channel.

Question 7

Explain how franchising works and how it is used to generate revenue?

Answer 7

These are the rights for a movie or show are sold to other companies such as primark, who can then implement the characters into tops, helping to promote the movie.

Question 8

why are time constraints so important when planning a media production?

Answer 8

It makes sure the deadlines are met and that the production is on time and moving smoothly. It also outlines what needs to be done specifically, ensuring nothing is missed and everything is done to a high standard.

Question 9

what is a contingency plan and why is it needed?

Answer 9

This is a plan that adds extra time to each milestone, therefore having time for if something goes wrong or needs to be redone.

This is needed because not everyone goes smoothly and we need to plan for when something goes wrong in order to stay on schedule.

Question 10

What Software can be used to manage time constraints?

Answer 10

• Teams
• Skype
• Gantt charts
• spreadsheets

Question 11

what is the “freedom for information act”?

Answer 11

This act ensures that members of the public are entitled to request information/data from public authorities.

It provides public access to information held by public authorities.

Question 12

What are “Intellectual Property Rights”?

Answer 12

The rights to own and distribute media or parts of a media product.

The owner of the rights gets all the revenue generated by the product unless the rights are sold and bought by another company.

Question 13

what is the purpose of the “Data Protection Act 1998”?

Answer 13

This ensures that all personal data is covered by the Act and is used:
- Fairly and lawfully
- For limited specifically stated purpose
- In a way that is adequate, relevant and not excessive.
-Keep it safe
- Handling according to peoples data protection.
- Kept safe
- Not transferred outside the European Union without protection.

Question 14

what is the purpose of the “Data Protection Act 1998”?

Answer 14

This ensures that all personal data is covered by the Act and is used:
- Fairly and lawfully
- For limited specifically stated purpose
- In a way that is adequate, relevant and not excessive.
-Keep it safe
- Handling according to peoples data protection.
- Kept safe
- Not transferred outside the European Union without protection.

Question 15

what is the “Copyright, Design and Patents Act”?

Answer 15

This is a law that allows the creator of a product to have full control over their work. It prevents anyone from stealing your work.

Question 16

Define Libel?

Answer 16

This is a false written statement that is used to caused harm to someone’s reputation.

Question 17

Define Slander?

Answer 17

A spoken statement, which has the intention of damaging someone’s reputation with false allegations.