Media Buying is a sub function of advertising management. The media buyer is responsible for purchasing time and space for the purpose of advertising. A complete evaluation of all media reaching the target market and customer is completed in order to execute the buy.
Evaluation includes investigating station or publication formats, pricing rates and promotional packages, demographics reached by the respective media, geographic area covered, and psychographics relating to the advertisers products or services being offered.
The media buyer will optimize what is bought depending on budget, the type and quality of medium, target audience, and how much time and space is wanted. Rates and the demand on media will vary from outlet to outlet and market to market. Ultimately media will be bought based on reaching the largest amount of targeted customers at the fairest price available.
Today there are more media outlets than in any time in history. They are mainly divided into traditional media and new media. Traditional media consists of newspaper, television, cable television, radio, direct mail and out of home. New media includes satellite radio, the internet, social media, blog, podcasts and mobile messaging.
Online media placement and positioning has become effective strategy, especially for grass roots campaigns and new product introduction. Media specialists will choose which combination of media is most appropriate and effective to achieve their goal, whether it is to make a sale, or to deliver a message or idea.