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Looking at deals from a publisher side in Google Admanager a PMP deal seems to me the umbrella term for (Programmatic) Guaranteed (PG), Preferred Deals (PD) and Private Auctions. (Even tough PMP is not Google AdM terminology.)
However, the way agencies and advertisers phrase things has me confused.
First of all: they never mean a PG deal. Instead this is usually just referred to as a Direct Deal, ‘IO based deal’, or something similar referring to a contract. (To make things even more confusing, some clients seem to use 'direct deal' as an other word for PMP deal)
Then: most of the agencies will just ask you for a PMP deal and expect you to set up a PD. However, not all of them, as one reminded me; “PMP means ‘private - market place’, so I need you to set up a private auction”.
All in all it seems best to avoid the term PMP altogether? But what would you say it means when setting up a deal?