PRINCIPLES OF MARKETING FINAL ASSIGNMENT ON
“ PRODUCT PLACEMENT”
Submitted by: MehwishRasheedSardar (BS-MS, 420).
Submitted to: Mr. Arif Ashraf.
PRODUCT PLACEMENT AND HOW IT WORKS:
Product placement is an advertising technique used by companies to subtly promote their products through a non- traditional advertising technique, usually through appearances in film, television, or other media. Product placements are often initiated through an agreement between a product manufacturer and the media company in which the media company receives economic benefit. A company will often pay a fee to have their product used, displayed, or significantly featured in a movie or show.
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" According to BusinessWeek Online, Red Stripe sales saw an increase of more than 50% in the U.S. market in the first month of the movie's release. Now that you have an idea of what product placement is and how it works.
IMPORTANCE OF PRODUCT PLACEMENT AS AN EMERGING PROMOTIONAL TOOL:
Product placement is defined as a marketing tactic used by advertisers in which the objective is to integrate brand names, logos or products into non-ad content of media, such as TV, film, internet, mobile, videogames and music while watching your favorite TV show, you notice your favorite character having a heart-felt conversation over a pint of well-known ice cream. The next scene cuts to the two getting into a trendy sports car. Although the attention of most viewers is focused on the plot line, marketing executives focus entirely on the most opportune moments to have their product shown in scenes. Product placement is the intentionally placed product in a filmed production. Product placement can also be seen on famous sites like Facebook and
Twitter because of the rapidly growing pace of the Internet. Businesses are constantly trying to find ways to advertise their products, and sometimes they do it in a way that the consumers don’t even know they are being targeting. When people relate themselves to someone famous they usually want to buy the products that they use. Product placement refers to the practice of including a brand name product, package, signage or other trademark merchandise within a motion picture, television or other media vehicles for increasing the memory ability of the brand and for instant recognition at the point of purchase. Product placements are commercial insertions within a particular media program intended to heighten the visibility of a brand, type of product or service. Researchers have shown that viewers like product placements (unless there are too many) because they enhance realism, aid in character development, create historical subtext, and provide a sense of familiarity. For marketers, the availability of a captive audience with greater reach than traditional advertisements, and the advantage of showing brands in their natural environment provide motivation for product placements.
PRODUCT PLACEMENT IN HOLLYWOOD AND BOLLYWOOD MOVIES:
Placement of products in movies was until recently a Hollywood concept only. Increasingly, the film industry is using this tool for communicating and to earn revenue. Two specific reasons are attributable to such a change. Firstly, with increase in production cost and launch of big budget movies, such secondary sources of revenue act as a cushion to the financers as well as producers of a movie.
Hollywood movies regularly showcase iconic American brands such as Ford, Coca-Cola or Apple. Buta wave of recent U.S. films and TV programs have begun enjoying product-placement deals from half a world away.
Recent episodes of “The Big Bang Theory” have featured Shuhua Milk, made by the Chinese dairy...