Includes any type of paid advertising or communication materials. It includes traditional campaigns in television, radio, outdoor signage, paid search, and print. It also includes typical celebrity endorsement and community sponsorship agreements.
WHY IS IT IMPORTANT
Bought media has traditionally been the easiest segment of promotion to deploy with a scalable structure (for the most part, there are always more channels of advertising.) As it is historically the segment with the largest budget, it also has the benefit of being the most understood and studied of the four media types, effectively producing the historical framework of what works.
Many areas of bought media are being transformed by new communication tools. Large audiences are making major behavioral shifts, providing entirely new marketplace opportunities for advertisers to benefit from niche target audiences using advanced demographics and psychographic information.
Bought media usually has an “instant on, instant off” basis, meaning that advertising campaigns can quickly expend enormous budgets and have little residual benefit. For a business choosing the wrong type of bought media, large portions of budget can be consumed before strategic or tactical changes can be made.