Key Terms for Industries
Mass vs Niche market: broad and diverse market with safety vs smaller less diverse market with more uncertainty of performance of productions.
Synergy: cooperation of multiple organisations eg: Snapchat film filters.
Conglomerate: ownership of multiple companies, assets that contribute to the business, strands.
Vertical Integration: combination of multiple stages of production in one organisation instead of more.
New Media: media that is created and curated by the individual.
End of Audience: the lasting audience that is predictable for firms to produce for is gone, now they are unpredictable and harder to produce for and satisfy.
Prosumer: a consumer that is not passive and contributes to the production, distribution and exchange of a media product.
Production: process of manufacturing a product.
Distrubution: Marketing a product/spreading the word.
Circulation: How its received eg: phone, cinema, magazine etc.
Exchange: process of giving and receiving when circulating a product eg: reviews.
Synergy: cooperation of multiple organisations eg: Snapchat film filters.
Conglomerate: ownership of multiple companies, assets that contribute to the business, strands.
Vertical Integration: combination of multiple stages of production in one organisation instead of more.
New Media: media that is created and curated by the individual.
End of Audience: the lasting audience that is predictable for firms to produce for is gone, now they are unpredictable and harder to produce for and satisfy.
Prosumer: a consumer that is not passive and contributes to the production, distribution and exchange of a media product.
Production: process of manufacturing a product.
Distrubution: Marketing a product/spreading the word.
Circulation: How its received eg: phone, cinema, magazine etc.
Exchange: process of giving and receiving when circulating a product eg: reviews.
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