Media planning and buying is the process of strategizing, negotiating, and purchasing ad placements, or "inventory." When planning what inventory to purchase, planners must take into consideration the product being advertised, target audience, and campaign goals. In addition, not only are media buyers responsible for making the initial purchase, but also for continuing to optimize performance throughout the entire campaign lifecycle.
Now it's time to set it in motion. This is when you buy media. Media buying is the purchasing of the space in the selected media. This involves committing to the media provider, submitting the ad, and paying the bill. This is the exciting part. You see all your hard work come together.
Media buying differs from “earned” or “owned” media. It falls into the “paid” media category and plays an essential role in marketing.