Marketing optimized for entertainment media and contexts has become the most popular and effective in recent years. Ferrari is a luxury brand known to millions of people around the world. It is important to maintain the ability of a brand to keep attention on its products in the highly competitive luxury industry. Since most customers of different social levels use social networks to meet consumer needs, such as finding recommendations or exploring new brands, it is important to understand the target audience. It is necessary to analyze what drives people and how a social platform is used to maintain a producer-consumer connection. It is necessary to create an effective social entertainment model to improve brand interaction with customers and increase demand for the product.
Advertising today quickly responds to the development and changes in market relations, thereby reaching a new level. The advantage of socially oriented advertising is that it allows you to establish relationships with the audience and increase the efficiency of the company. Specialists can analyze the responses of their customers, getting additional information about them. They can send useful tips, free demo versions of their innovations, and promotional materials to customers’ computers.
Social entertainment marketing involves the use of entertainment media to promote a product by combining content with advertising. These can include campaigns in movies and video games, as well as at events and in the feeds of artists, celebrities, and social media influencers (Eagle & Dahl, 2018). It includes various partnerships between manufacturers and brands from other industries or entertainment organizations that usually promote each other.
Product placement is part of the promotional activities and, therefore, must be visible to consumers. Companies enhance their image through product placement, such as being associated with popular films or main characters. Ferrari can place its cars in themed films or collaborate with famous personalities, such as singers or bloggers. A well-organized marketing strategy can monetize a brand’s interest and increase awareness. In particular, product placement works because the viewer’s attention is usually focused on the medium in question and not on other activities, as might be the case when an ad starts (Eagle & Dahl, 2018). That makes it perfect for programs like Netflix, and media like films or console games that are technically ad-free.
Based on an analysis of its audience’s preferences and expectations, Ferrari can tailor entertainment media for a more subtle form of marketing. Ads can be placed on, for example, Instagram or Facebook, the most used social networks, or collaborate with Netflix to create more brand-specific advertisements. Social influencers use product placement as a popular marketing strategy that has the potential to generate high returns. They sign contracts with companies and advertise related products in videos or posts. Theming on Netflix can be done, for example, in the cinema, where the main focus of the audience is on cars, or to emphasize the luxury of the brand.
Product placement has a long tradition in the television and film industry. At the same time, placements bring huge reach to companies, and the budget increases. Modern product placements by bloggers and influencers on YouTube, Instagram, and others are shifting the traditional marketing method to the Internet one. Meaningful advertising of their products provides brands with impressive benefits. Entertainment marketing supplies a dual aim, both the celebrity and the brand gain exposure, and film and TV receive vital funding to grow their project.
Reference
Eagle, L., & Dahl, S. (2018). Product placement in old and new media: Examining the evidence for concern. Journal of Business Ethics, 147(3), 605–618.