When answering this question, it's important to demonstrate your negotiation skills, understanding of media buying, and ability to build relationships with vendors. Start by outlining the steps you take in the negotiation process. For example, you might begin with researching the vendor and understanding their offerings, followed by preparing a clear and detailed proposal. Highlight the importance of clear communication and setting expectations. Provide examples of how you have successfully negotiated favorable terms in the past, such as securing better rates or added value. Emphasize your ability to find win-win solutions and maintain positive relationships with vendors. Example: 'I start by thoroughly researching the media vendor to understand their strengths and what they can offer. I then prepare a detailed proposal that outlines our needs and budget. During negotiations, I focus on clear communication and setting realistic expectations. For instance, in my previous role, I successfully negotiated a 15% discount on a media package by highlighting our long-term partnership potential and volume of business. I always aim to find solutions that benefit both parties and ensure a positive ongoing relationship.'
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