Assessment 1 – Product Placement
Impact of Product Placement by Branded Entertainment on Advertisement Industry
Assessment 1 – Project Outline
1. Problem Statement
The product placement is one of the important part of 4p’s of marketing. The product placement or so called promotion of product in a specific medium or among targeted market in order to create brand awareness (Kumar, 2015). The brand awareness is becoming one of the important aspect in order to survive in this competitive era and capture a large area of local and international markets (Huang & Sarigöllü, 2012).
The branded entertainment product placement is a marketing strategy which is basically a convergence or collaboration of advertisement industry and entertainment industry. The entertainment sources like films, web series etc are used as a medium to place a product and integrate it which this sources and make it look like product is part of it (Lehu, 2007). In recent time it has been changed a lot and it has impacted at a drastic level to advertisement industry and consumer behavior towards any brand. Nowadays this strategy is also experimented with video game industry, which is also a growing industry (Yoo & Eastin, 2016). This is clear that branded entertainment doesn’t consider age or other factors like geographic location. Some scholars who belong to marketing background believes that this is the future of marketing and it will be evolved with time and type of products to be placed. Assessment 1 – Product Placement
This necessity of understanding a market and target audience and how product should be placed and promote is core reason to pursue this work. This systematic and detail research is to explain and understand the impact of product placement by branded entertainment strategy on advertisement industry.
2. Aim & Objectives
The core aim of this research is to study the impact of product placement by branded entertainment on advertisement industry.
The objectives which will justify this research aim will be:
- To study the previous practices related to branded entertainment & product placement
- To create a research which helps to understand pros and cons related to this sector.
- To find how it has affected advertisement industry in recent years
3.1 Literature Synopsis
An secondary source of data will be referred to study the previous practice which have been carried out for product placement by the means of branded entertainment. The importance of product placement by branded entertainment and what other sources were used and how efficient were they in previous times. There has been drastic change in practices adapted by today in marketing field, which will be studied by this sources.
The secondary sources will be consist of journals, articles, interview, books available from CQU library (online & campus), Google Scholar and other online sources.
3.2 Data series & Surveys
In order to measure impact, an series of data will be collected and surveys will arranged online to record consumers view towards product placement by branded entertainment. It is very important in marketing research in order to compare new data with previous data in order to know that efficient the strategy is working (Soba & Aydin, 2013).
Qualitative Approach: An set of questionnaire and forms will be designed for consumers or participants which will be distributed them through on line surveys at online sources. Also there will be discussion with people belong to marketing background and are interested to share their views.
Quantitative Approach: An collected data will be transform into graphical forms like charts, graphs etc, which states the impact of branded entertainment product placement on advertisement industry. Assessment 1 – Product Placement
Huang, R., & Sarigöllü, E. (2012). How brand awareness relates to market outcome, brand equity, and the marketing mix. Journal of Business Research, 65(1), 92.
Kumar, Pankaj. (2015). MARKETING MIX : 4 P’S. Indian Streams Research Journal, 5(7), 1-5.
Lehu, Jean-Marc. (2007). Branded Entertainment Product Placement and Brand Strategy in the Entertainment Business. London: Kogan Page.
Soba, M., & Aydin, M. (2013). Product Placement Efficiency in Marketing Communication Strategy. International Journal of Business and Management, 8(12), 111-116.
Yoo, S. C., & Eastin, M. S. (2016). Contextual advertising in games: Impacts of game context on a player’s memory and evaluation of brands in video games. Journal of Marketing Communications, 1-18.