How to answer this Communication Skills interview question about Vendor Negotiation for Mid-Level Media Buyer?

Can you describe how you negotiate ad placements and rates with vendors?

Media Buyer

Communication Skills

Asked at

OMD Worldwide

Difficulty :

Medium

Explanation

This question evaluates your negotiation and relationship-building skills when dealing with vendors. Recruiters assess your ability to secure cost-effective deals without compromising campaign goals. Common pitfalls include failing to address how you prepare for negotiations or not discussing maintaining vendor relationships. A strong answer involves researching market rates, establishing clear goals, and negotiating mutually beneficial agreements. Preparation involves studying negotiation strategies and understanding market pricing.

Answer Example

I start by researching market rates and the vendor’s offerings to prepare for negotiations. During discussions, I focus on building a partnership and emphasize the potential long-term value of working together. For example, I negotiated a 15% discount on premium ad placements by committing to a larger ad spend over three quarters, benefiting both the client and the vendor.

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