A simple introduction to product placement would be that it is a marketing strategy that companies or brands often use for promoting their products and to generate higher revenues. It has been happening either subtly or as we have seen in recent times, rather openly through different mediums like TV, films, social media as well as the physical placement in stores/shops. The interesting part is that it benefits all parties included, the seller, the buyer, and the medium through which the product is promoted. A few advantages that an effective merchandise placement can achieve are;
- An effective brand/product placement also provides a stable atmosphere in terms of the longevity of the broadcast.
- When using a visual aid like TV and film medium, the product can be seen as ratified by the media personnel using or promoting the product.
- In terms of being a good advertising strategy, sellers can now place products in a certain way, making sure to reach their targeted viewers.
- Brand placement can help prolong the life of a certain product because of its appearance.
- Sellers can downplay the appearance of the product while creating a profound impact through verbally handling the marketing side of it. It will not be so much like selling in disguise but instead, you’re gently nudged in the direction without noticing any harshness.
- Product placement is considered as something generally sanguine and doesn’t harbor any negativity in the audience’s mind.
- When used properly, viewers/potential buyers are mostly less critical about product placement as a marketing means in comparison to other strategies.
It is due to these very valid and appealing reasons that we see the placement strategy gaining more strength and popularity these days. More companies are thinking about investing in product placement because of the power of mass media. Comcast deals are providing this chance to their TV as well as internet subscribers. Companies can now check out the packages being offered and use the absolute suggestive power of media to not just communicate with their present customers but also reach the potential ones.
An Ever-Growing Trend
Traditional marketing strategies, though not completely outdated and lost, are proving to be less interesting for the customers/buyers. With the new advancements in tech and the absolute craze for buying and selling online, product placement is making waves and proving to be extremely provocative in a very positive upbeat way. It doesn’t matter if you’re trying to hit the viewers through targeted campaigning or your thing is the subliminal messaging approach, you are surely set to achieving your goal of creating more awareness of your brand/product. When used in real life scenes of a film or a TV show, this strategy becomes even more effective because the audience can then relate to it on a personal level. It is a growing opportunistic market and more companies are stepping in to take advantage of the situation.
Immergence in Global Markets
This trend though quite visible in the US is gaining a lot of fame in the emerging markets of China and India. According to the recently generated surveys, it was reported that both these countries are making extensive use of the product placement strategy to nationally and internationally promote/market their products. They are gaining more acceptability and appearance globally and may very soon come to stand face to face with the old US giants. According to a few marketing strategists, this has been happening for a lot longer in the USA contrary to popular belief, firstly not so much as an intended medium of marketing or advertising but then with the fast acceptance and in some cases, idolization of brands; companies started focusing on making it big in the market through product placement.
An example is the Steven Spielberg’s movie “E.T”, where the Hershey’s company actually saw a major increase in the sales of their Reese’s pieces. The deal that was made then was the promotion of the movie in all of Hershey’s advertisements, while Hershey’s in return could place their product in the movie.
Resonate With Your Customers
The art of subtlety and subliminal nudging is all well and good and it works too. But it shouldn’t be an ultimatum for what a company’s goal above everything else is the promotion of its product and its name becoming the absolute go-to. Brand placement can be very open and straightforward for example, an important celebrity asking for a certain brand of alcohol or a clear glass of Perrier at a restaurant. But yes, being too pushy can be a deal breaker. What a company needs to attain should be completely clear. Brand name should resound with positive energy, viewers should be able to not just relate but they should also actually be able to form long-term relationships with the product/company/brand. Another focus should be on maintaining the quality as per shown. A negative impression on a customer can create lifelong damages which a company may not be able to deal with. Realizing that the buyer/viewer actually has the power and then creating a platform where they are met with what they were originally promised creates for lasting loyalties. Manipulation can only get you a little farther and it would a temporary achievement that will become empty sooner than you will realize.
Always Be Flexible
Today’s market is highly competitive and fast, vigorously shifting, breaking barriers, becoming more open and a lot that wasn’t much appreciated before is now acceptable. Marketing companies and strategic divisions are coming up with new techniques for gaining more presence, creating loyal customers and giving more opportunities to the buyer. The rules aren’t as hard-edged and innovation is now the name of the game. What any company or seller’s dream come true would be an appealing name for its product and a following that is guaranteed to increase positively. If you think outside the box and are ready to become an enigmatic force to be reckoned with, you will need to shift with the newer ideas. They might look and sound quirky at face value but there’s nothing to be lost and a lot to be gained if it works.