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Glossary / Lexicon

What is consumer journalism?

10/09/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Consumer journalism is a form of journalism that focuses on providing consumers with information, advice and analysis to help them make purchasing decisions and protect their interests as consumers. This type of journalism aims to bring transparency to the marketplace, educate consumers about products, services and companies, and highlight potential risks and benefits. Here are some important features and aspects of consumer journalism:

Product reviews: Consumer journalists often conduct product tests and reviews to examine the quality, performance and reliability of products and services. These reviews can be published in magazines, newspapers, online media and on TV channels.

Product reviews: Consumer journalists often conduct product tests and reviews to check the quality, performance and reliability of products and services.

Advice: Consumer journalism offers advice and recommendations on topics such as shopping, finance, health, food, travel, technology and more. This can include tips on budgeting, saving, choosing insurance or avoiding scams.

Revelations: Consumer journalists can uncover and report on corporate malpractice, deception or fraudulent practices. This can help protect consumers from harmful products or services.

Consumer rights: Consumer journalism can raise awareness of consumer rights and laws and inform readers on how they can claim their rights.

Industry developments: Journalists in this section report on developments in various industries that may have an impact on consumers. These include changes in legislation, price fluctuations, trends and innovations.

Scandals and recalls: When product scandals or recalls occur, consumer journalism informs the public about the background and impact of such events.

Consumer protection: Consumer journalism promotes the protection of consumers' interests and encourages responsible consumer behaviour.

Online platforms: Consumer journalism has also had a strong presence on online platforms and social media in recent years. Consumers can access advice and information on websites, blogs and social networks.

Consumer journalism plays an important role in balancing the information asymmetry between businesses and consumers and helping consumers make informed choices. It contributes to the promotion of consumer rights and the protection of consumer interests by providing an independent and critical perspective on the market.

Consumer journalism plays an important role in balancing information asymmetry between business and consumers and helping consumers make informed choices.

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What is a picture agency?

10/09/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A stock agency is a company or organization that collects, manages and licenses photos, illustrations and other visual media from photographers, illustrators and artists. These agencies offer their image collections for licensing to media companies, publishers, advertising agencies, graphic designers, bloggers and others who want to use visual content for various purposes. Here are some important features of stock photo agencies:

Visual media collection: Stock agencies collect a wide range of visual media, including photos, illustrations, vector graphics, videos and sometimes audio content. These media can be on different topics and in different styles.

Licensing: The main function of a stock agency is to sell licenses for the use of these visual media. Customers can license the images or graphics as needed for different purposes such as print media, websites, advertising, presentations, social media and more.

Rights management: Picture agencies manage the copyrights and licensing rights for the images they represent. They ensure that the images are properly licensed and that the terms of use are adhered to.

Search and Browsing Features: Most stock agencies offer search and browsing tools on their websites that allow customers to search by specific images or categories to find the visual material they want.

Quality Control: Stock agencies often have strict quality control procedures to ensure that the images they offer are professional and meet industry standards.

Fees and fees: The cost of licensing images can vary depending on the agency, type of image and intended use. Photographers and artists often receive a commission from royalties when their images are licensed.

Exclusivity: Some stock agencies offer exclusive images that are only available through them, while others are non-exclusive and the images can be licensed in multiple locations.

Image agencies play an important role in providing visual material for the media industry, advertising, publishing and other creative industries. They facilitate access to high-quality visual content and enable companies and individuals to design their projects more effectively. Well-known examples of stock agencies include Getty Images, Shutterstock, Adobe Stock and many more.

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What is a resort?

10/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A department is a division or specific editorial unit within a media organisation, such as a newspaper, magazine or news portal. Each department specialises in reporting on a particular category or topic and is responsible for compiling and publishing content in that area. Departments are used to organise and structure the different aspects of reporting to cover the diversity of information and to provide targeted information to readers. Here are some common examples of departments in media organisations:

Politics: The politics department is responsible for reporting on political affairs at local, national and international levels. News on government decisions, elections, political parties and political developments are published here.

Business: The business section covers economic issues such as business news, financial markets, economic policy, the labour market and company profiles.

Culture and Entertainment: This department focuses on cultural events, art, music, film, theatre, literature, celebrities and entertainment news.

Sports: The sports section covers sporting events, sports teams, athletes, match reports and sports results.

Health and Science: This section publishes news and reports on medical developments, health care, scientific discoveries and environmental issues.

Local News: The local news section focuses on coverage of local events and news in a specific region or city.

International News: This section covers international issues, international relations, conflicts and global developments.

Technology: The technology section covers technological innovations, gadgets, corporate news in the technology sector, and digital trends.

Opinion and Commentary: Opinion articles, commentaries, columns and opinion pieces are published here, reflecting the authors' views and opinions on various topics.

The exact structure and the departments offered may vary depending on the media organisation. The use of sections is intended to help readers navigate through the wealth of information and ensure that they can find relevant and specialised reporting on their interests.

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What is corporate planning?

10/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Corporate planning is a strategic process in which a company plans its goals, resources and activities to ensure long-term success. It includes a systematic assessment of the company's current situation, setting goals and developing strategies and plans to achieve these goals. Here are some of the main aspects of business planning:

Goal setting: Corporate planning begins with setting clear and measurable goals. These goals can be financial in nature, such as sales or profit targets, or non-financial in nature, such as increasing customer satisfaction or introducing new products.

Analysis of the current situation: Companies need to analyze their current situation, including their strengths, weaknesses, opportunities and threats (SWOT analysis). This helps set realistic goals and develop strategies that build on the company's current position.

Strategy development: Based on the analysis, the company develops strategies to achieve its goals. This may include introducing new products, expanding into new markets, cost-cutting measures or other strategic initiatives.

Operational Planning: Operational planning focuses on implementing strategic goals and plans at the business activity level. This includes allocating resources, setting budgets, determining responsibilities and schedules, and developing performance indicators to monitor progress.

Budgeting: An important part of business planning is the creation of a budget that determines the company's financial resources for planned activities and expenses. The budget serves as a guide for financial control and monitoring.

Control and monitoring: After implementing plans, it is crucial to monitor progress and ensure goals are met. When deviations occur, adjustments can be made to respond to changes in the business environment.

Long-term perspective: Business planning usually covers a long time horizon, often spanning several years. It enables the company to develop long-term visions and strategies to ensure sustainable growth and success.

Business planning is a dynamic process that is regularly reviewed and adjusted to respond to changes in the business environment and within the company itself. It plays a crucial role in aligning all company activities towards defined goals and in ensuring the long-term competitiveness and profitability of a company.

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Was ist Markterschließung?

10/05/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Market development refers to the process by which companies enter new markets or grow in existing markets. This can be done in a variety of ways and includes strategic planning, market research, sales and marketing activities, and the identification of opportunities and risks in new or existing markets. Here are some important aspects of market development:

Market research: Before a company enters a new market or grows in an existing market, it is critical to conduct extensive market research. This includes analysis of market size, growth potential, target groups, competition and regulatory framework.

Market entry strategy: After market research, the company needs to develop a clear market entry strategy. This may include selling through local partners, joint ventures, exports, direct investment or other methods.

Adaptation to local conditions: In many cases, market entry requires adaptation to local conditions, whether in terms of cultural differences, legal regulations or consumer preferences. This may involve adapting products, services and marketing strategies.

Sales and marketing activities: To successfully enter new markets, the company needs to develop effective sales and marketing strategies. This may include training sales staff, advertising in local media and participating in industry-specific events.

Risk management: Market development often involves risks, whether due to political instability, currency fluctuations or unexpected competition. Comprehensive risk management is therefore critical to address potential challenges.

Monitoring and adjustment: After market entry, it is important to continuously monitor performance and feedback from the market and make appropriate adjustments. This can help to ensure success in the new market.

Market entry can be an important growth strategy for companies, but it requires careful planning and implementation. It is also important to note that not all market development attempts are successful, and companies must be prepared to learn from their experiences and adapt their strategies.

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