Oops! I want a Placement too..

The sub-prime crisis led to the global financial crisis, which affected every sphere of human life and as such, organizations are no exception. Organizations are into cost cutting leading to lay-offs and recruitment freezing. It has become really difficult even for IIT and IIM graduates to get decent job placements.

Marketers are deeply concerned with placements, not for themselves, but for their product. This very process of getting a product placed in an event or a movie is called Product Placement. I can quote a lot of examples in this regard, but I would like to specify the one for Lenovo as I am a bit biased towards it. Lenovo showcased its laptops being used in the latest movie Fashion.

In the current era, where marketers understand the importance of differential advertising, product placement is a great concept. It ensures greater visibility that a regular advertisement, as advertisements may appear monotonous, but when people see a product say in a movie, the impact is better as customers get a feel of the product in a more realistic situation (a general perception of audience). While a customer watches an advertisement, he knows that it is meant to convince him to buy the product. On contratry, when a customer watches a product beibg placed in amovie and used in a better and more real looking way, people could relate to it better. As such, product placement is a form of differential advertising, thats averts bombarding the customers with an array of products.