Popular culture has a huge impact on consumer behavior. Which is why product placement can be such a powerful marketing tool. Whether we’re watching an iconic movie star like Humphrey Bogart casually smoking a cigarette as he talks to Sam at the bar, or the extraterrestrial E.T. following Elliot’s delicious trail of Reese’s Pieces, consumers have always emulated and adopted what they see in entertainment. As Hollywood and Madison Avenue began to realize ways to monetize this phenomenon, the practice became institutionalized and deals were struck between brands and entertainment properties. (more…)