This study comprehensively reviews the literature on product placements to develop an integrative conceptual model that captures how such messages generate audience outcomes. The model depicts four components: execution/stimulus factors (e.g., program type, execution flexibility, opportunity to process, placement modality, placement priming); individual-specific factors (e.g., brand familiarity, judgment of placement fit, attitudes toward placements, involvement/connectedness with program); processing depth (degree of conscious processing); and message outcomes that reflect placement effectiveness. The execution and individual factors influence processing depth (portrayed as a high-low continuum), which in turn impacts message outcomes. The outcomes are organized around the hierarchy-of-effects model into three broad categories: cognition (e.g., memory-related measures such as recognition and recall); affect (e.g., attitudes); and conation (e.g., purchase intention, purchase behavior). This study integrates potential main and interaction effects among model variables to advance a series of theoretical propositions. It also offers an extensive research agenda of conceptual and empirical issues that future work can address.