Media Planning. Media planning is the process of strategically selecting a mix of media platforms to place ads over a period of time in order to achieve an advertiser’s campaign goals
Media buying process is a set of strategic wholesale multi-platform ad space purchases, negotiations, and arrangements aimed at finding the most advantageous placement at the lowest price for the period.
Media buying falls into the paid media category and generally means the procurement of media space and time for displaying ad creatives. When buying media, the goal is to find the right place, time and the context to deliver relevant ads to the target audience and increase conversion rates, sales or brand awareness. Media buying is time-based, meaning that the buyer is paying for “renting” all possible placements on all possible platforms so they must be available for the timeslot when it is convenient for the advertiser to place the ad.
Media buying differs from “earned” or “owned” media. It falls into the “paid” media category and plays an essential role in marketing. Media buying is the acquisition of media real estate for the most advantageous spaces and timeslots. Purchasable media options span from newspaper ads to prime time TV slots to online banner ads