Request For Proposal (RFP) Overview
The request for proposal (RFP) initiates the negotiation process by presenting the campaign objectives and goals to potential vendors. A buyer sends the proposal to vendors that meet the campaign needs. They exchange proposals in meeting the brand’s campaign and goals.
Basis provides a campaign tool to send the RFP, negotiate proposals, and manages messages with the potential vendors. The RFP and media planning includes the following:
- Campaign objective and goals
- Proposal management
- Constant communications
The buyer continues negotiations in the planning stage with the vendor. Basis captures and stores the various proposals between the buyer and vendor within the campaign. The vendor selection includes variables such as placement details, start/end dates, along with the inventory units, rates, costs, and overall budget. When the parties agree on the proposal, the next phase includes client approval and IO contract acceptance.
Note: A buyer sending an RFP to a vendor contact initiates the communication in the Messages center.