Type of paper: Case Study

Topic: Business, Products, Placement, Customers, Consumer, Success, Marketing, Importance

Pages: 2

Words: 550

Published: 2021/01/11

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Introduction

For a product to survive in today’s competitive ridden market, needs to focus a part of its sources in product placement. Not only does the product need to attract the attention of various consumers, it also has to develop a positive reputation of itself in the minds of the consumer to make them buy it. To do that, a company must invest in its product placement so that they can make a powerful statement on the minds of their consumers.

Importance of Product Placement

The right type of product placement needs to be based on its consumer behavior. Once that has been identified, it is easier for a company to develop the strategy for product placement. Looking at the history of marketing, it can be seen that product placement had been in use since 1980’s (Qui P’ng & Kit, 2014). Furthermore, it has been researched by psychologists that consumers, rather than buying something that they may like, would rather buy a product/brand that they can relate with (Zimmerman, 2013). Since today’s consumer tends to skip through the advertisement or commercials shown during movie or a TV show, has placed more importance of product placement.

Risks associated with product placement

However, product placement does not come without a risk. The decision making stage of consumer behavior is one of the most important stages, in that stage if the factors effecting the decisions bring about a negative impact of a particular brand of product, then the consumer automatically eliminates that option as a potential product from the list of brand options to buy from. If a product heavily invests for its product placement in a movie/television show/video game/etc, and that avenue fails in the market, then that in turn gives a bad reputation to the product and the strategy to promote the product fails. The success or failure of the product is entirely dependent on the success or failure of the avenue that has been invested in.
Taking the example of Travel Pro’s successful product placement, the importance of product placement can be understood and the risks that come along with it. The company took a risk of investing in a new film which they did not know would be successful or not, and if not then their campaign would fail as well. Since both turned into a success, they managed to increased their sales and improve the company’s working environment and created a positive reputation with the consumers and added potential consumers to the list.

Importance of Building a Marketing Campaign Around Product Placement

The four P’s of marketing would not be complete if the placement of the product is prepared without the products promotion. It is the reason why marketing campaign promoting the product and its placement needs to be executed alongside each other. Marketing campaign must involve the conventional use of media and digital as well, to create awareness of the product to the consumer. Marketing will also help to create hype of the avenue being used and may be one of the factors that may lead to the success of the product and the movie/etc. A product placement may go unnoticed by the consumers if the placement has not been communicated them via different avenues of marketing.

Conclusion

Product placement has become a need for any brand or product. More and more products are now starting to invest in this avenue and those that have executed its strategy successfully have now made a greater impact on its consumers, the example of its success being Travelpro.

Work Cited

Qui P’ng, E. L., & Kit, L. C. (2014, March). The Effectiveness of Product Placement: The Influence of Product Placement towards Consumer Behavior of the Millennial Generation. International Journal of Social Science and Humanity, 4(2), 138-142.
Zimmerman, I. (2013). Product Placement Can Be A Lot More Powerful Than We Realize. Retrieved April 3, 2015, from Psychology Today: https://www.psychologytoday.com/blog/sold/201303/product-placement-can-be-lot-more-powerful-we-realize

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WePapers. (2021, January, 11) Example Of Travelpro Case Study. Retrieved June 15, 2021, from https://www.wepapers.com/samples/example-of-travelpro-case-study/
"Example Of Travelpro Case Study." WePapers, 11 Jan. 2021, https://www.wepapers.com/samples/example-of-travelpro-case-study/. Accessed 15 June 2021.
WePapers. 2021. Example Of Travelpro Case Study., viewed June 15 2021, <https://www.wepapers.com/samples/example-of-travelpro-case-study/>
WePapers. Example Of Travelpro Case Study. [Internet]. January 2021. [Accessed June 15, 2021]. Available from: https://www.wepapers.com/samples/example-of-travelpro-case-study/
"Example Of Travelpro Case Study." WePapers, Jan 11, 2021. Accessed June 15, 2021. https://www.wepapers.com/samples/example-of-travelpro-case-study/
WePapers. 2021. "Example Of Travelpro Case Study." Free Essay Examples - WePapers.com. Retrieved June 15, 2021. (https://www.wepapers.com/samples/example-of-travelpro-case-study/).
"Example Of Travelpro Case Study," Free Essay Examples - WePapers.com, 11-Jan-2021. [Online]. Available: https://www.wepapers.com/samples/example-of-travelpro-case-study/. [Accessed: 15-Jun-2021].
Example Of Travelpro Case Study. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/example-of-travelpro-case-study/. Published Jan 11, 2021. Accessed June 15, 2021.
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