Exam Definitions Flashcards
Joint Venture
A business arrangement in which 2 or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or a new business activity. E.g Warner Bros.
Commercial Venture
The activity of providing goods and services for financial gain. E.g Disney
Cross media ownership
It is the ownership of multiple media businesses by a person or cooperation. These businesses can include T.V, film, radio, newspaper, magazine and books.
Synergy
Media synergy is the way in which different elements of a media conglomerate work together to promote linked products. E.g. Frozen and Pokemon.
Vertical Integration
Vertical Integration is the combination in one firm of 2 or more stages of production normally operated by separated firms.
Horizontal Integration
Horizontal Integration is the process of a company increasing production of goods or services at the same part of the supply chain.
Production Process
Production Process refers to the stages required to complete a media product from the idea to the final master copy. The process can apply to any type of media production film, video, T.V and audio recording.
Above the line advertising
Above the line advertising is where mass media is used to promote brands and reach customers. E.g. Film posters and chat show programmes.
Below the line advertising
Below the line advertising is a more one-one type of advertising and is used to promote on free platforms. E.g. YouTube, Facebook, Twitter, Instagram and Tik Tok.
Niche audience
The audience of a special interest usually in small numbers. E.g. Fishing magazines.
Public Service Broadcaster
Public Service Broadcaster is a company that delivers services beneficial to the public interest. This type of company will offer products to the audience that go beyond the purpose. E.g. BBC.
Conglomerate
It is one overall parent company owns a number of smaller companies called subsidiaries. Each subsidiary business runs independently but supports the wider goals and objectives at the parent company. E.g. Disney owning other companies like PIXAR, Marvel and ESPN.
Independent Companies
Independent companies are companies that are free from the control of a conglomerate. They usually produce one type of media product or service. E.g. Aardman Animation (Wallace and Gromit).
Marketing
Marketing is the action or business by promoting and selling products or services, including market research and advertising.
Black Box
Black Box is one device, such as a smartphone that supplies us with all of our information communications technology (ICT) and media requirements.