Final answer:
The activity described is known as media planning, which is critical for targeting the right audience in advertising and involves negotiations over placement and cost for various media channels.
Step-by-step explanation:
The process described in the question involves determining the most effective media channels for advertising to reach the intended audience. This includes selecting channels such as TV, digital media, newspapers, and negotiating with media owners regarding availability and pricing. The correct term for this activity is media planning. When executed successfully, media planning ensures that advertisements are seen by the target demographic, which can be influenced by factors such as age and interests. This is crucial in the context of political campaigns, product advertising, and evolving media consumption habits in order to maintain the effectiveness of promotional efforts in the attention economy. Advances in technology and media are challenging advertisers to find new ways to connect with consumers, as traditional methods like television and print advertising are increasingly bypassed.