LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘ Media Training Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the marketing industry. This report breaks down the data and analysis behind the procurement of media training and acts as an all-inclusive guide for making smart purchasing decisions.
“The global media training market comprises media training institutes and PR agencies. They organize customized educational and training workshops for businesses,” says SpendEdge procurement analyst Angad Singh. “They also educate businesses on how to utilize opportunities provided to them through media interactions such as interviews, press conferences, video and sound bites and so on,” added Anil.
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Key Report Features |
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| Supply Market Insights | Negotiation Strategies | |
| Procurement Best Practices | Category Risk Analysis | |
| Cost Saving Opportunities | Key Supplier Analysis | |
| Pricing Models | Supplier Capability Matrix | |
Report Insights
- The increase in spending on media training due to the rise in availability of digital platforms such as social media networks, e-newspapers, and digital media applications is fueling the growth of the global media training market.
- Purchasing managers must document the category negotiation levers before entering an RFX phase such as cost and payment terms, contract tenure, value-added benefits, and volume-based discounts. This ensures that they are better equipped to leverage maximum value from their category spend.
- One of the key challenges faced by purchasing managers is the difficulty in evaluating and measuring the effectiveness and ROI of media training workshops due to subjectivity and lack of quantifiable and reliable metrics.
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Media Training Pricing Trends
Cost-plus pricing and module-based pricing are the two widely adopted pricing models in the media training market. Module-based pricing offers a high-level of customization and depends on additional service features desired such as crisis monitoring and social media management. Furthermore, cost-plus pricing model offers transparency in pricing as it provides a proper rationale for the rising in costs and offers a higher profit margin maximization.
According to procurement analysts at SpendEdge, the performance-based pricing model gas high potential and will gain adoption level in the forecast period. It reduces the risk of ineffective training workshops and modules as it is a result-oriented model. Moreover, it facilitates direct measurement of conversions and leads and is a popular choice for those who need online media training.
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