Industry Analysis & Industry Trends
Clients hire public relations (PR) firms to manage a company's image, publicize a product or service and communicate with stakeholders. The industry's performance depends largely on clients' marketing budgets, which is largely determined by corporate profit. As economic conditions have improved, industry revenue has increased due to client businesses increasing their marketing expenditure. In the coming years, the expansion of niche and social networking services and the continued development of mobile media are expected to contribute to relatively strong industry growth... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Public Relations Firms industry is moving into the mature stage of its life cycle. Industry value-added (IVA), a measure of the industry's contribution to the overall economy, is forecast to increase at an annualized 3.2% in the 10 years to 2020. The industry's IVA growth is slightly higher than the annualized GDP growth of 2.2% over the same period, due to the industry's rapid adoption of social media and digital promotion, which have allowed for highly successful targeted campaigns.
Industry consolidation also indicates market maturity... purchase to read more