Public Relations Flashcards
Public Relations
A strategic communication process that builds mutually beneficial relationships between organizations and their publics.
Manages communications with every group connected with the company. Ex: consumers, suppliers, media, shareholders, community members, govt, etc
Public Relations Functions
- Identify internal and external stakeholders.
- Assess the corporate responsibility
- Create positive image building activities.
- Prevent or reduce image damage.
Public Relations STRENGTHS
- Reaching elusive audiences.
- Image reputation management.
- Credibility.
- Relatively low cost.
Public Relations WEAKNESSES
- Relative loss of control.
- Measurement difficulties (effectiveness)
Internal Stakeholders
- Employees
- Unions
- Shareholders
- Channel members
- Customers
- Suppliers
- Board members
External Stakeholders
- Media
- Local community
- Financial community
- Govt
- Special-interest groups
- Suppliers
- Regulatory
Public Relations Tools
- press releases
- newspaper stories
- website updates
- news stories (via media)
- annual reports
Corporate Social Responsibility
Firms have an obligation to be ethical and transparent in the way they go about business.
Ways to Practice Corporate Social Responsibility
Economic
Environmental
Social
Image Destroying Activities
- Discrimination
- harassment
- pollution
- misleading communications
- deceptive communications
- offensive communications
Image Building Activities
- empowerment of employees
- charitable contributions
- sponsoring local events
- selling environmentally safe products
- outplacement programs
- support community events
Cause Related Marketing (CRM)
Benefits include:
-intangible elements - goodwill and top of mind
-increased business
-can create a favorable image of the business
-can change consumers perceptions of the business
BUT, one cause may be liked by one person and not the other which makes picking a cause to support difficult
Cause examples
- improving public schools
- dropout prevention
- scholarships
- cleaning up the environment
- community health education
Consumers are NOT willing to sacrifice:
- price
- quality
- convenience
- availability
- performance
Sponsorships
The firm pays money to sponsor some group, or something that is part of an activity.
Sponsorship marketing can:
-build brand equity
-produce positive feelings transferred to brand