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Glossary / Lexicon

What is a market environment?

10/31/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The market environment refers to the totality of all factors and conditions that influence and shape a particular market. It includes all external forces and conditions that influence the behaviour of companies, competitive conditions and market opportunities in a particular economic sector or industry. The market environment can be very complex and includes a variety of elements, including:

Competition: The number and type of competitors in a market, as well as their strengths and weaknesses, significantly affect the market environment. The intensity of competition can have an impact on prices, product innovation and customer service.

Customers: Customers' needs, preferences and behaviour are critical factors in the market environment. Changes in customer behaviour can affect demand for products and services.

Suppliers: The availability of raw materials, components and services, as well as relationships with suppliers, can affect the cost, quality and availability of products.

Technology: Advances in technology can change the way business is done and provide new opportunities for innovation and efficiency.

Legislation and regulation: Laws and regulations affecting an industry can have a significant impact on the market environment. They can have an impact on business practices, product standards, environmental regulations and other aspects.

Economic conditions and business cycles: Economic conditions and business cycles, such as upturns or downturns, can affect consumers' purchasing power, businesses' willingness to invest and demand for goods and services.

Social and cultural factors: Social trends, values and cultural differences can influence consumer behaviour and market demand.

Environmental factors: Environmental aspects, such as environmental regulations and sustainability requirements, can influence the production and distribution of products and services.

International markets: Globalisation allows companies to access international markets, which creates additional opportunities and challenges.

Understanding the market environment is critical for companies as it helps them make informed decisions, develop strategies and manage risks. Companies need to continuously address changes in the market environment and adapt their business strategies to stay competitive and achieve long-term success.

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What is development effort?

10/30/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The term "development expenditure" usually refers to the costs and expenses incurred by a company for the development of new products, services or technologies. It is a specific category of expenses related to innovation and research activities. Development expenses can occur in a variety of business sectors and industries, including technology, pharmaceuticals, automotive and many others.

Here are some important points that characterise development expenses:

Research and development (R&D): Development effort is often a part of a company's R&D activities. These activities aim to design, develop, test and improve new products or services in order to increase competitiveness or take advantage of new market opportunities.

Development expenditure: R&D expenditure is often a part of a company's R&D activities.

Cost types: Development expenses can include various types of costs, including personnel costs for developers and researchers, costs for materials and equipment, costs for external services or licences, as well as indirect costs such as administration and overhead.

Accounting: In accounting and financial reporting, development expenses are often recorded in special accounts to distinguish expenses for research and development activities from other operating costs. These expenses may be capitalised over time and allocated through depreciation.

Risk and uncertainty: The development of new products or technologies often involves risk and uncertainty. There is no guarantee of success, and it can be expensive before a marketable product or service emerges.

Competitive advantage: Companies invest in development efforts to gain competitive advantage. New products or services can create a unique position in the market or improve existing products.

Accounting requirements: The accounting and reporting of development expenses is subject to specific accounting rules in many countries, such as International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP) in the US. These rules determine how development costs are recognised, capitalised and amortised.

Development expenditure is an essential component of many businesses, especially those that rely heavily on innovation and product development. Effective management of development spend is critical to ensure that resources are used efficiently and that the development of products and services meets the strategic objectives of the business.

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Fake News: Definition and Characteristics

10/27/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The term "fake news" refers to false, misleading or manipulative information that is intentionally disseminated to deceive the public or influence opinions. Fake News can come in a variety of forms, including fake news articles, manipulated images or videos, made-up stories and false statistics. Here are some characteristics of Fake News:

1. Falsity: The most obvious aspect of Fake News is its untruthfulness. They contain information that is not factual and is often fabricated or heavily distorted.

2. Intent to deceive: Fake News is deliberately created and disseminated to deceive or manipulate people. The purpose can be varied, from political propaganda to financial fraud.

3. Dissemination: Fake news is often spread via social media platforms, websites and email chain letters. They can quickly go viral and reach a large number of people.

4. Emotional appeal: Fake news often aims to trigger emotions such as anger, fear or outrage to grab readers' attention and get them to share the false information.

5. Lack of sources: Fake news often lacks credible sources or quotes made-up experts. The information is often vague or generalised to maintain the appearance of credibility.

6. Repetition: Fake news can be reinforced by frequent repetition and sharing on different platforms. The more often people see such news, the more they tend to accept it, even if it is untrue.

7. Political or ideological motives: In some cases, fake news is created specifically to promote political or ideological goals. They may be used to discredit specific political parties or groups or to influence public opinion.

8. Confusion and disinformation: Fake news can help create confusion and undermine trust in established news sources. This can affect long-term understanding of actual events and issues.

It is important to stress that fake news should not be confused with unintentional misinformation. Fake news is deliberately created and disseminated false information, while unintentional misinformation can be based on mistakes or misunderstandings. Fake news is a serious challenge for society as it can manipulate public opinion and undermine trust in information sources. Therefore, it is important to think critically, check sources and be aware of how Fake News works in order to protect oneself from it.

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Where can I get a press card in Germany?

10/27/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

In Germany, journalists can usually obtain a press card from a variety of sources. Here are the main sources where you can apply for a press card:

German Journalists' Association (DJV): The DJV is one of the main places for journalists to apply for a press card. As a rule, you must be a member of the DJV to use this service. The DJV offers members assistance with the application process and issues the press card.

Verband Deutscher Sportjournalisten (VDS): If you work in the field of sports journalism, you can apply for the press card at the VDS. This is a specialized contact point for sports journalists.

Freischreiber e.V.: Freelance journalists can contact Freischreiber e.V. for information on applying for a press card. The association provides support for freelance journalists in Germany.

Your employer or media organization: If you work for an established media organization, you can also contact your employer directly, as many media companies handle the issuing of press cards for their employees.

Federal Press Office: The Federal Press Office can issue press cards in some cases, especially if you are a foreign correspondent working in Germany or if you need access to certain government facilities. However, conditions may vary.

It is important to note that the requirements and conditions for issuing a press card may vary from organization to organization. In most cases, you must be able to prove that you are a journalist, for example, by providing samples of your work or other documents. Membership in a journalists' association such as the DJV can make the process easier, as these organizations often provide the necessary evidence and support. It is advisable to contact the respective body to which you wish to apply for the press card directly for precise information and instructions on how to apply.

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What is a press officer?

10/25/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A press officer, also known as a spokesperson, is a person who works in corporate communications or public relations and acts as an interface between an organisation and the media. The main role of a press officer is to effectively communicate an organisation's messages, information and news to the public, the media and other stakeholders. Here are some key aspects of a spokesperson's role:

1. Media contacts: Press officers maintain close relationships with journalists, editors and other media representatives. They are responsible for writing and sending press releases, responding to media enquiries and coordinating interviews with relevant people from the organisation.

2. Crisis communication: In the event of a crisis or emergency, the press officer is responsible for informing the public and managing media communication. This requires quick reactions and the ability to provide clear and concise information.

3. Public relations: Press officers are often involved in developing PR strategies and campaigns. They help to shape and protect the organisation's image and reputation.

4. communication strategy: They develop communication strategies to effectively disseminate the organisation's messages. This may include the use of media, social networks and other communication channels.

5. Information transparency: An important aspect of a spokesperson's role is to ensure transparency and openness in communications. This means ensuring that relevant information is shared with the public in a timely and accurate manner.

6. Representation: The press officer can often act as the official voice of the organisation, especially in the media. They speak on behalf of the organisation and represent its interests and messages.

7. Media training: In some cases, the spokesperson may be responsible for media training of managers and other staff to ensure they can perform effectively in interviews and public appearances.

8. Timeliness: The information landscape is constantly changing. A good spokesperson needs to be up to date with the latest news and trends in order to make strategic decisions.

Overall, the press officer is a key role in an organisation's communication. They contribute to how the organisation is perceived by the public and are largely responsible for how its messages and information are disseminated. The ability to communicate effectively, think strategically and act in times of crisis are essential skills for this position.

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