Media buying is a popular element of advertising management. It is the acquisition of media space (radio, internet, TV & print) at an optimum price and position for the sole purpose of advertising. When planning what spots to purchase, a media buyer should always take into consideration the service or product objectives.
Any business or enterprise that plans to allocate a team and a budget for advertisement would always depend on the expertise of a professional media buyer, someone who knows what to buy and where to buy. Media buyers need to keep in mind the budget, the medium (radio, internet, TV & Print), the quality of the medium (the target audiences, time of the day for broadcast and advertisement, etc.) and how much of time and space is wanted.
With the birth of the digital age, the focus of media buyers has shifted to the internet and online domain. Products like Banner Advertisement, Google Adwords, Mobile Advertisement and Viral Marketing Videos are becoming popular choices for many businesses and brands. However, TV & Radio spots are still preferred mediums for many businesses that have a substantial advertising budget, whereas print media is slowly becoming obsolete.
Therefore, media buying is an important part of advertising and needs careful planning and budgeting. Even small businesses are recognizing the importances of media buying and are allocating budgets and resources for the sole purpose of effective advertisement.