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39 Cards in this Set
- Front
- Back
What are the characteristics of media products: |
-costs -experiential -high-risk -public/private -Heterogenous and identical |
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Why does media has a high fixed first costs and low copy costs? |
The first copy is cost extensive in terms of money, time, cameras, creative. However, low marginal costs because of massive duplication technologies of media products. more you produce, lesser the cost |
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Define economies of scale: |
high initaial costs, low marginal costs due to massive dupication of media products: ex; Ford cars |
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Define economies of scope |
media product can be sold in different formats (TV, radio, books etc...) Same type of content is used in different formats |
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What's Windowing? |
Different media platforms are used at different points in time as a form of price discrimination |
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Why do companies use Windowing procedures? |
Companies use windowing to know when |
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Why do we say that media products are experiential goods? |
media products are based on originality, story-telling and creativity. You don't grasp it, you pay to have a short term experience of an idea |
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Why are media products high-risk goods? |
difficult to predict consumer's preferences. Consumer taste is fickle. Never know how it can go. |
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Why do media companies use high concept formulas over and over again? |
high concept formulas are based on already successful genres that consumers know and like. By doing high-concept content, companies are assured that some people will watch it eventually. "safe bet" |
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What's cross-media? |
The same content is being offered over and over again in different formats (re-purposing). |
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What's the difference between re-purposing and windowing? |
re-purposing: putting content into other formats |
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Why do we say that media content is non-depletable or non- excludable? |
-you can't literally be consumed and disappear -consuming a media product once will not deplete its availability to others |
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What's an aggregator of content? |
They produce their own content but also organize the distribution it too. Ex: Youtube, Netflix, google |
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Why do we say that the media market and the boundaries between producers of content, aggregators, distributors and consumers are blurring each other? |
Because factors are starting to do things themselves too. An actor can be an aggregator but also a distributor etc... |
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What's a Value chain |
It is how companies employ a variety of resources and processes to create a product and services. It is the set of activities that lead to the finished product |
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What's Disintermediation |
The removal of intermediates from the value chain (skipping steps and actors like skipping the agency part, or the marketing part...) |
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What's Unbundling? |
Offering of two or more components of the same service together as a package at a special price: ex: if you buy microsoft office, you will have to buy the others, bundle. |
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What's the name of the process that is done by organizations before entering a country's market? |
P.E.S.T analysis |
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What doe PEST stand for ? |
Political, economical, social, and technological |
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How can Government policies, advertising markets and hard-software can influence the value chain? |
puts a strain on the value chain, impact how things are done, gov' can force not to do things, tech can push people to stop doing things etc... |
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What's adjacency? |
How companies change their products in order to follow the evolution of the market. Changing based on already-known expertise. |
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What are the main consequences of digitalization? |
-costs: producing media goods , cheap, ability to create niche products for everyone. - Cross-media: Same content being put on different platforms -diversification of content=safer in volatile market. -increase in number of media distribution platforms -content has to fit in different media outlet, - behavioral targeting (what do people like? personalized content (tailoring) -value chains change order of actors, less transitions etc.. |
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Advantages of vertical integration? |
large companies own different links of the production line less transactions and security that product will go through the whole process without trouble/reliable less chance of being take over by company difficult for new players to enter the market |
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What's fragmentation? |
a new player focuses on a single stage of the value chain and unbundles it into several activites: some companies only focus on content or only on marketing, etc.. |
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Why do we say that a value chain is Non-linear? |
dintermediation and unbundling, value chains are no longer sequential strings of activities |
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Business models |
how an orgainzation creates, delivers, and captures value (how it makes money). |
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Why do native media organizations are adapted to new media market? |
flexibility from lack of legacy package and responsibility, culture in native media organizations, only have to focus on digital without the paper thingy |
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What's a Hit-model |
Difficult to predict what content catches on, blockbusters are here. |
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why is the blockbuster strategy good? |
success creates success (easier to attract talent) large companies have money to use hit strategy, small comapnies don't. more likely to watch something that everyone does. |
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biggest blockbusters less risks? |
you make sure that they're big but they will for sure bring money. While small movies for small niches |
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what are adjacencies
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how organizations comes up with a successful response to its constantly changing environment. |
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Why do we say that tech has always disrupted exiting media |
printing press (poor monks), radio ( pooor music concerts) etc... |
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What's convergence? |
the coming together of sectors and product market that were previously distinct and separate. |
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give an example of convergence |
Iphone |
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what's the dominant design |
periods of little change that is adopted by everyone. It's like a standard |
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What are the 4 types of technological changes |
incremental, architectural, discontinuous, disruptive |
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How does INERTIA WORK |
too big that can't do stuff, take too much time to do other things. EX: invested too much in legacy stuff, can't adapt as fast |
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digital business units, what are they? |
sees online as an opportunity rather than as a threat. Flexible, with no vested interests in existing business. |
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What's ambidexterity |
companies want to be able to be explorative and exploitative. two parts of a company, a creative part new business unit, while the other continues. |