Most people familiar with Interactive Multimedia but in my opinion, interactive multimedia is multimedia application or multimedia software itself. Am I right ? If not, please explain what is the difference.
You are right. Multimedia is a definition of multiple media - mainly video, text, audio and graphics. And interactive multimedia application allows the user to interact with it like clicking, dragging etc. A multimedia application is nothing but an application which is in a CD, downloaded .exe/.dmg files.
Interactive media is media that allows you to process and share information, making provision for all participant to be active through the use of multimedia tools such as social networking websites, video games,smartphones,virtual reality e.t.c .Multimedia application on the other hand is the use of the various elements (text, animation, audio, video and graphics)of media in education, banking, commerce, business, research, accounting e.t.c. Multimedia application could also be referring to multimedia software package.