Bleed area
This is the area which the background color/graphics should cover if it is printed to the edge of the product.
Trim area
This is where final cut will be made to make your product the final size. That's why we have the bleed area - to make sure your background comes right to the edge.
Safe area
Any text or graphics placed inside the dotted line is safe from trimming. Important elements should be placed within the safe area.