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 - Starting a New Business Chapter
Public relations firms in the US generally face low barriers to entry. The industry has many sole operators and a low level of market concentration, indicating that new players are entering the industry regularly and do not face significant barriers to entry. Some of the largest global PR companies, however, have been acquired by and integrated into large advertising agencies. It is unlikely that a new operator in this industry would be able to effectively compete against these global integrated agencies, due to the substantial resources that global firms possess.
This industry requires very little capital investment to establish a new firm... purchase to read more