Product placement is everywhere, whether it was featured in a movie, TV show or a commercial. It could have been done so well that you might have not even noticed it, or it could have been too obvious, unnatural and maybe even a little corny, making the ad go south.
“Embedded marketing is another term for product placement since the product is embedded in another form of media. This placement of branded goods or services is often found in entertainment, namely in movies or TV.” (Accion). This marketing strategy is crucial for those companies who are looking to target their audience in a subtle, natural way, if done correctly.
This form of advertising can be very beneficial, but it is a huge risk to take, especially for a large global company. Some of the pros of product placement are advanced targeting, undivided attention and top-tier influencer marketing. Product placement helps companies target the attention of people who are difficult to reach with conventional advertising and when a brand is embedded in a movie or a show, the ad cannot be blocked or skipped. Influencer marketing is also a really popular marketing strategy trend that I don’t see going away any time soon. Product placement also happens here with influencers, but on YouTube instead of movies and TV shows.
Some of the cons of product placement are the high cost and too much is at stake for the companies looking to implement this strategy. The cost of product placement depends on the movie or show and the product being used and it could a few thousand dollars or cover a majority of the production cost. “A typical TV spot will cost $350,000 on average to shoot, and tens of millions to run for a few small flights — most of which will be skipped or will fail to register for one reason or another,” Priceonomics reported.
Overall, product placement can be a powerful strategy for a brand to implement into their marketing plan. Although it can be a hit or miss, I believe it is a risk worth taking; it is one of the fastest ways for companies to get their name out there and it could leave an everlasting impression on viewers.
Dudovskiy, John. “Product Placement as an Effective Marketing Strategy – Research – Methodology.” Research, 20 June 2012, research-methodology.net/product-placement-and-brand-placement/.
Kolowich, Lindsay. “Product Placement: Why It Matters and How to Get It.” Accion, 2015, us.accion.org/resource/product-placement-why-it-matters-and-how-get-it/.
TunikovaView, Oksana, et al. “Product Placement-A Good Advertising Adaptation?” Business 2 Community, www.business2community.com/marketing/product-placement-good-advertising-adaptation-02026643.