| Question |
Answer |
| Consumers |
People who use the products |
| Discretionary income |
Money left to spend after necessary expenses are paid |
| Kinetoscope |
A device used to view a sequence of moving pictures |
| Vendors |
Sellers of products |
| Product |
A good or services that any for-profit industry sells to its customers |
| Promotion |
Any form of communication used to persuade people to buy products |
| Endorsements |
Approval or supports of a products or ideas, usually by a celebrity |
| Core product |
The main product such as sports event, movies, stage show, or book |
| Ancillary products |
A products related to or created form the core products |
| Revenue |
Gross income |
| Piracy |
The unauthorized use of an owner’s or creator’s music, movies, or other copyright material |
| Royalty |
A payment for material that has been copyright, or legally declared as belonging to the creator |
| Product tie-in |
Use of ancillary products such as merchandise as a promotional tool |
| Sponsorship |
The promotion of a company in association with a property |
| Consumer loyalty |
Consumers’ attitude that occurs when they are happy with a company and becomes repeat customers |
| Cross-promotion |
Any form of communication through which one industry relies on another industry to promote its product |
| Convergence |
The overlapping of product promotion |
| Synergy |
A combined action that occurs when products owned by one source promote the growth of related products |
| Risk |
Unforeseen events and obstacles that can negatively affect business |
| Risk managements |
A strategy to offset business risks |
Ch.18 LTI-MA 509
