Public Relations Services: Market Intelligence, Procurement Research, Supply Market Forecasts, Cost Drivers, Trends, Category Management Insights Now Available from SpendEdge
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Global Public Relations Services Category - Procurement Market Intelligence Report. (Graphic: Business Wire)
To sustain in the hyper-competitive market, major end-user industries such as automotive, FMCG, pharmaceuticals, and IT are exhibiting an incremental expenditure on PR services. This is resulting in substantial category growth. Companies are also resorting to the PR services on various social media platforms to widen their access to a broader customer base and to improve communication with them. This will significantly accelerate the category spend momentum in the years to come. of this public relations services procurement research report.
A sub-segment of the PR services, the lobbying services are increasingly being adopted by pharmaceuticals, BFSI, and oil and gas industries in the US to gain favorable legislation for their business. This is exerting a significant influence on the category spend momentum. The emergence of new-age FinTech companies and tech start-ups will create a huge demand for PR services in APAC, who is predicted to gain the highest market share eventually. South America will witness a marginal increase in their market share because of the rise in investments by leading PR service agencies in Brazil and Argentina.
This market intelligence offers the necessary inputs that will guide both buyers and suppliers to devise an optimum procurement strategy. This procurement research report identifies the regions that are exhibiting substantial category growth prospects which helps in making informed decisions in the market. Our procurement experts also recommend category pricing strategies that are suited to the dynamics of the market. Want to learn more about the category pricing strategies that can be tailored to your business goals? of this market intelligence report.
“ PR services providers are expected to have sound knowledge on the industry that they are catering to, markets, geographies, and demographics involved to understand the target audience and direct branding efforts accordingly,” says SpendEdge procurement expert Sumit Yadav.
This public relations services procurement research report has estimated the following cost drivers to influence the category growth in the coming years:Growing demand for PR services from the FMCG industry will drive the market growth Rising labor costs pose significant risks in this market
SpendEdge’s procurement market intelligence reports for the marketing category provide detailed supply market forecasts and cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge’s reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Public relations services
Category pricing insightsPricing outlook Total cost of ownership analysis Supplier cost structure
Cost-Saving OpportunitiesSupplier-side levers Buyer-side levers Quantifying cost savings by negotiation strategies
Category ecosystemCompetitiveness index for suppliers Buyer power Supplier power score
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INDUSTRY KEYWORD: SOCIAL MEDIA COMMUNICATIONS ADVERTISING MARKETING
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PUB: 01/11/2019 08:00 AM/DISC: 01/11/2019 08:01 AM