My study is based on exploring the Link between Volume of Media Coverage and Business Outcomes. The main purpose of this study is to gather and classify the varying factors used in marketing mix modeling, and to look at how public relations is represented therein. Only a few studies albeit have actually been published on the topic within industry literature lacking especially in the Indian context. I would also like to bring upon the issue of Online Media an emerging area for marketing mix modeling which is of particular interest to the practitioners for measuring public relations through websites and consumer-generated media.
Understanding how news and advertising interact is important, from two perspectives. From a business management perspective, this understanding would enable a company to develop optimally-effective integrated communications plans and to allocate resources appropriately. From a theoretical perspective, there is the promise of deepening our understanding of how people integrate messages received from different forms of mass
While this study focused on how the volume of media coverage relates to brand value, reputation in the media is often a greater predictor of brand value and business outcomes such as sales. In industries that involve more research before purchases are made, the editorial content that results from PR can account for nearly half of brand value.
In industries that exhibit a stronger link between media coverage and brand value, managers in these product categories need to pay special attention to the way the brand’s value is impacted by its communications activities.
‘Earned media’ that results from public relations efforts may be more important than advertising to brand value, especially for companies that sell feature-rich, high-involvement and complicated products such as consumer durables. Findings from the study reveal that industries that sell high involvement products - where a buyer invests time and effort in deciding what to buy than buying by impulse.
Public Relations could be used as a powerful tool to draw customer attention. A timely and topical issue can be news that drives media coverage, getting the company’s name or brand more visibility.
As a researcher I delve into the following spheres:
1. Constituents of Brand identity and role of PR in Brand identity
2. Reaching your direct customer through PR with stress on online PR efforts.
3. Empowering customer to make an informed decision.
4. Helping customer research the product at the information seeking stage of the buying decision model.
5. Trust has become a major issue in the post-bubble business world. Relationship building protects a firm’s long-term competitiveness.