Media buying services involve planning, negotiating, and procuring advertising space on various media channels such as televisions, radios, newspapers, magazines, and the internet. The purpose of this process is to maximize the reach to the target audience in an economical and efficient manner to maximize ROI.
The Procurement Pain Point
A leading FMCG company had long-standing relationships with multiple media agencies. Therefore, the client wanted to consolidate its media buying and planning to ensure that it was getting the strongest capabilities and the best prices for its sizable media budget. The FMCG company wanted an in-depth understanding of the suppliers’ evaluation and selection criteria, supplier engagement models, and cost breakup and positioning. SpendEdge’s team of research analysts carried out a procurement market intelligence study to assess the supply market landscape and shortlist media agencies. This study also helped the client gain deep insights on pricing models, cost-saving opportunities, price negotiation strategies, service level agreement terms, and contract terms and conditions.
Procurement Insights Offered and the Outcome
To provide a better understanding of the supply market, our team of analysts carried out a comprehensive research process comprising of primary and secondary research. The analysts referred to a vast database of secondary resources to get a better understanding of the current market trends, sourcing and procurement best practices, and pricing models. Also, detailed discussions were carried out with industry leaders, category managers, client consultants, and procurement managers to gain a detailed overview of the latest trends in procurement, key suppliers operating in the market, and the service level agreement terms.
This procurement market intelligence study offered the client with a better understanding of the supply market which helped them identify the key media buying and planning service providers. This further led the client to better strategy formulation in terms of price negotiation, cost structure, sourcing and procurement best practices, and supplier engagement models.
This procurement intelligence study helps a leading FMCG company understand the global media buying and planning market in terms of supply market landscape and price negotiation strategies.