Friday 17 January 2014

Synergy and Convergence

Synergy is when two or more companies/organisations come together to create linked products to promote each others products. For example a film like Star Wars has teamed up with many other companies to produce extra merchandise like toys and games.
In the music industry artist and their record labels will co-produce with other companies to increase profits and to increase their advertisement. For example many bands and artists will co-produce with t-shirt companies to create t-shirts with their logo on. The t-shirt company gets a percentage of the profits and the artists get a percentage of the profits along with advertisement and also helps them communicate with their fans.

Convergence is when one device which used to have one sole purpose e.g. xbox playing video games. But now these devices have adopted other functions so that they appeal more to their customers. Devices such as an xbox are now able to surf the internet, watch films, stream movies and also play video games every now and then.

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