Almost a decade ago, Brand Strategy ran a piece by Phil James lamenting the diminishing impact of traditional media buys in the wake of emerging new channels.
Ironically, “James Bond” served as his illustration of how “media-within-media” could be successfully leveraged, in his article titled, “How to sell sports sponsorship,” February 18, 2000.
Product placement is a media-within-media spend. James Bond driving a BMW gives more airtime — and exciting airtime at that — to the product than a conventional ad.