When answering this question, you want to show that you have a clear understanding of the media buying process and the role that competitive landscape and market trends play in shaping it. Here are some steps you can take to answer this question effectively:
- Start by discussing the importance of understanding the competitive landscape and market trends. You can explain that these factors help you make informed decisions about how to allocate media spend and which channels to prioritize.
- Talk about the various methods you use to assess the competitive landscape and market trends. This might include conducting research on your competitors' advertising and marketing strategies, monitoring industry publications and reports, and analyzing data on consumer behavior and preferences.
- Explain how you use this information to inform your media buying decisions. You might discuss how you adjust your targeting and messaging based on what you learn about consumer behavior, or how you shift your media mix to take advantage of emerging trends or capitalize on gaps in the market.
- Finally, you can give an example of a time when you successfully used competitive and market analysis to inform your media buying decisions. This could be a specific campaign that you worked on, or a more general strategy that you developed based on your research.
Overall, your answer should demonstrate that you are knowledgeable about the media buying process and that you have a strategic approach to using competitive and market analysis to inform your decisions.