Vocabulary Bank
Convergence
Merging different media that are accessible into one device. For example, you can play video games now on a smartphone, rather than just a gaming console. Advantageous, you can do loads with just one device. Downfall is that these merged companies are losing profit and it is all on one device.
Brand image
The general opinion of consumers through the brand image. Brands rely on their image for sales.
Franchise
A movie franchise is a collection of related films in succession. For example, Harry Potter.
Loyalty
Customer Loyalty, is how loyal the fans are. Increases popularity and revenue due to them carry on buying merchandise.
Marketing
The action or business of promoting and selling products or services. For example, market research and advertising.
Convergence
Merging different media that are accessible into one device. For example, you can play video games now on a smartphone, rather than just a gaming console. Advantageous, you can do loads with just one device. Downfall is that these merged companies are losing profit and it is all on one device.
Brand image
The general opinion of consumers through the brand image. Brands rely on their image for sales.
Franchise
A movie franchise is a collection of related films in succession. For example, Harry Potter.
Loyalty
Customer Loyalty, is how loyal the fans are. Increases popularity and revenue due to them carry on buying merchandise.
Marketing
Diversification
Diversification is when a media platform is diversified across many other platforms and even change their product. For example online through their website, or a twitter account.
Diversification is when a media platform is diversified across many other platforms and even change their product. For example online through their website, or a twitter account.
Globalisation
Globalisation is a product distributed across the world.
Globalisation is a product distributed across the world.
Synergy
When you merge two or more companies together to produce a greater product than outcome would of been if they worked individually. For example, Lego and Warmer bros worked together to create the lego movie. Makes a mass audience instead of a niece audience. Different elements of a media conglomerate work together to promote linked products across different media. Th linked products will publicise each other.
What are the disadvantages of a conglomerate?
- Small number of companies own the media companies.
- Lack of competition.
- Owners have a lot of power to present their political views to large audiences, for example the first black disney princess.
Synergy is the merging of two different media companies working together to produce a mass product, more of a successful outcome if both companies worked individually. They will diversify different products to promote this film and both companies will then both publicise each other through the linked products. An example of this is Lego and Warner brothers, working together to create the Lego movie and gain a mass audience, making more success and profit.
An excellent blog post Sasha! Really impressive - your definition of Synergy is particularly strong.
ReplyDeleteIn a comment below please explain - why was synergy so effective to create 'The Lego Movie' (Warner Bros & Lego company)
Miss C
Synergy was so effective to create the lego movie, due to Lego, Lin pictures as well as Warner Bros working together. Therefore they diversified different products through each company as well as publicise each other through these linked products. Therefore working together was effected as it gained mass audiences, made a massive success then what it would of produced by one company and profit. they also had a large amount of money to produce the film and from the profit they gained bought out a franchise to the lego movie, this is called a tent-pole.
DeleteWow Sasha! An excellent explanation there - well done.
Delete