Companies in this industry design and implement public relations campaigns; some also offer lobbying and political consulting services. Major companies include divisions of global advertising and marketing giants such as IPG, Publicis, Omnicom, and WPP, as well as independent firms such as Blue Focus (China), Havas PR (France), and Edelman (US).
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.
PRODUCTS, OPERATIONS & TECHNOLOGY
Most PR agencies provide a wide range of services, including media relations, crisis management services, lobbying services, event management, and fundraising. Other specialize in one or more of these services.