I think theres a spectrum of techniques and no bright line. If you are temporarily in NY but live in LA, is it location based advertising to show the user an ad targeted to LA? What if you're at a regional airport and the only flights today are to LA? What if the ad network knows you have a flight booked to LA today? What if you have a lot of friends in LA so there's a good chance you will be there soon?
People would call the last one personalized and not "location targeted", but it's pretty hard to see where that flips.
People would call the last one personalized and not "location targeted", but it's pretty hard to see where that flips.