Vocabulary Bank

Vocabulary Bank♡

Convergence

Merging different media that are accessible into one device e.g: smartphone, don't need a separate camera as phone has one

Brand image

the general impression of a product held by real or potential consumers: the way you view a brand (reputation)

Franchise

When a film line has expanded and made more than one film, e.g. Harry Potter

Loyalty

the result of consistently positive emotional experience, physical attribute-based satisfaction and perceived value of an experience, 

Marketing

the action or business of promoting and selling products or services, including market research and advertising. getting a brand more known

Diversification

When a company makes a product accessible on multiple platforms

Globalisation

The process by which businesses or other organisations develop international influence or start operating on an international scale

Disadvantages of conglomerate 

• Small number of companies own the companies
• Lack of competition
• Owners have a lot of power to present their political views to large audiences

Synergy

When you merge multiple media products/companies together to make a better outcome

eg: Lego movie: Lego & Marvel work together 

Synergy is when multiple media companies merge together to create a better outcome than they would've created alone. For example, the lego movie was made me Marvel and Lego. Marvel would've struggled creating the movie without lego and lego would have struggled without having a film company like marvel to help them.