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Companies in the advertising, public relations and related services market are using events and occasions to increase consumer reach and brand awareness. This includes events such as presidential elections, festivals, sports events such as Olympics and FIFA, or even releases of high budget movies. Use of advertisements, discounts and sales, in such relevant events is expected to add more than $6 billion to the global advertising market in 2016 adding about 1.1% to the year’s growth rate for global advertising expenditure. For instance, in 2014, Walmart introduced limited edition toys during the holiday season before the release of the year’s most awaited movie “Star Wars: The Force Awakens.” The company also tried to drive sales keeping its stores open 24 hours to host special midnight events ADVERTISING, PUBLIC RELATIONS AND RELATED SERVICES MARKET TO GROW TO $604 BILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY. The Business Research Company expects the advertising, public relations and related services market to grow to $604 billion in 2020. The Americas was the largest region in the advertising, public relations and related services market in 2016, accounting for $162 billion or 33.1% market share.
According to The Business Research Company’s Professional Services Consultant, Oliver Guirdham, the advertising, public relations and related services market is expected to benefit from the booming e-commerce industry. According to UNCTAD (United Nations conference on trade and development), the global e-commerce business to consumer market is currently worth $2.2 trillion, with China leading the market with more than 400 million online buyers. The online sales in numerous European countries is expected to grow at a CAGR of almost 11%, surpassing 15% in countries like Italy and Spain. Likewise, the US industry witnessed a YOY growth of 15% from 2014 to 2015, with online sales crossing $341.7 billion. With growing demand and competition, e-commerce websites are increasingly demanding greater advertising and marketing tools to attract and retain consumers. Companies adopt marketing tools such as search engine optimization, pay-per-click campaigns, online advertising, in-site promotions, product discounts, email promotions, competitive pricing and after-sale marketing and relationship building. Thus, increase in e-commerce is expected to be a significant driver to the advertising, PR, and related services market.
Publicis Groupe was the largest company in the advertising, public relations and related services market with revenues of $10.6 trillion for the financial year 2015. Publicis Groupe’s growth strategy is focused on developing business alliances and strengthen their merger and acquisition strategies. The company aims to adapt to the fast-moving advertising and PR market by digitalizing its business and its services.
The advertising, public relations and related services market can be broadly categorized as: Advertising Agencies are primarily engaged in planning, developing, creating and producing advertising campaigns in all media platforms including newspapers, radio, television, websites and social media sites. Public Relations (PR) Agencies manage, design and implement communications between an organization and its customers. Activities of PR firms are aimed to promote the image of their clients and encourage favorable relations between the client and its stakeholders, such as consumers, government, general public, employees and investors. Media Buying Agencies are engaged in procurement of advertising time or space from media owners or media representatives. The companies resell time or space to advertising agencies or directly to businesses. Media Representatives represent establishments that are engaged in selling media time or space to media buying agencies. Outdoor Advertising companies carry out out-of-home or outdoors advertising, using techniques such as billboards, public transportation, and wall art and flex banners. Direct Mail Advertising establishments directly target prospective consumers of the product or service advertised. The content and mode of advertisement can be customized according to the target audience. Examples include emails, letters, and newsletters. Advertising Material Distribution Services providers engage in distribution and delivery of advertisements, such as sample products, door-to-door promotion, placing brochures and flyers. ADVERTISING, PUBLIC RELATIONS AND RELATED SERVICES Global Market Briefing is a detailed report giving a unique insight into this market. The report is priced at $750 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company. About The Business Research Company Visit TheBusinessResearchCompany.com, mail email@example.com or call +447443439350 or +918897263534 or +919160996838 for more information on this and many other titles. The Business Research Company is a market research and intelligence company, which excels in company, market and consumer research. It has research professionals at its offices in the UK, India and the US as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, chemicals and technology. The Business Research Company's management has more than 20 years of varied business research experience. They have delivered hundreds of research projects to the senior management of some of the world's largest organizations.