What is the term for the purchase of airtime or print space for advertising purposes?

The term for the purchase of airtime or print space for advertising purposes is "media buy." This concept refers to the process by which advertisers acquire the right to place their ads on various media platforms, such as television, radio, online, or in print publications. The media buying process involves negotiating rates, choosing the appropriate media channels for the target audience, and determining the optimal timing for the ads to run.

The effectiveness of a media buy is significant, as it directly impacts advertising reach and frequency, which are critical components of a successful marketing strategy. By carefully selecting media channels, advertisers can ensure that their message reaches the intended audience effectively.

Ad placement typically refers more specifically to the act of placing an ad in a particular location or format once the media has been purchased, but it does not encompass the broader process of negotiating and securing media space. Advertising procurement may imply the acquisition of marketing materials or services but lacks the specificity of media buying. Marketing investment generally refers to any expenditure related to marketing activities, not exclusively the purchasing of media space.