Public Relations Services

Public Relations Services

Brief Excerpt from Industry Overview Chapter:

Companies in this industry design and implement public relations campaigns; some also offer lobbying and political consulting services. The US-based Edelman is the world's largest PR firm. Major global advertising holding companies, collectively known as the "Big Four" (Omnicom, Interpublic, WPP, and Publicis), also own top PR agencies, including Weber Shandwick (Interpublic), Burson Cohn & Wolf (BCW, owned by WPP), and FleishmanHillard (Omnicom), all based in the US. Outside the US, top agencies include BlueFocus (based in China) and Brunswick (the UK), as well as MSL (owned by Publicis, based in France).

COMPETITIVE LANDSCAPE

Demand is driven primarily by the health of the US economy and corporate profits. The profitability of individual companies depends on the value of the creative services delivered and efficient use of personnel. Large companies have advantages in having multiple subsidiaries that offer different marketing services to large customers and some economies of scale in marketing. Small companies can compete successfully by specializing in a particular industry or geographic market. The US industry is fragmented: the top 50 companies account for about 40% of industry revenue.

Key sources of competition include companies that conduct their PR in-house, as well as diversified advertising and marketing firms that conduct public relations campaigns.

PRODUCTS, OPERATIONS & TECHNOLOGY

Most PR agencies provide a wide range of services, including media relations, crisis management, lobbying, event management, and fundraising. Other specialize in one or more of these services.