The economic downturn did not affect the Public Relations Services industry as severely as traditional advertising. While marketing budgets tend to be one of the first items targeted in cost-cutting efforts, public relations (PR) services are often seen as more focused and therefore better value for money than media advertising. As a result, spending on PR tends to be less volatile and holds up slightly better when budgets are cut. Additionally, some aspects of PR, such as communication with stakeholders, can be crucial in a downturn to allay fears and manage crises.
Public relations agencies manage the communications between an organisation and its publics in order to promote favourable relationships and portray a desired image. This includes communication with the general public as well as employees, investors, customers, analysts and other stakeholders. In contrast to advertising, PR campaigns aim for exposure through public interest and news items rather than paid advertisements in order to give their message third-party legitimacy.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.