There are two primary types of online media buying: Managed and RTB (Real-time bidding). Not all buying strategies use optimization to determine a bid amount. It is therefore critical that you understand which buying strategy the ad platform or ad network you are working with is using.
Managed buying refers to a situation where an ad platform or ad network is buying inventory from a publisher with which they have a direct financial relationship. This is also known as Buying Direct Inventory, which involves pre-brokered agreements between an advertiser and publisher to deliver a certain amount of specific inventory for a preset cost. Managed bids are always based on booked revenue. Only one Managed bidding strategy utilizes optimization: