Companies in this industry create advertising campaigns, implement public relations campaigns, and engage in media buying, among other advertising services.
Demand for advertising and marketing services comes largely from businesses that sell consumer products, entertainment, financial services, technology, and telecommunications. The profitability of individual companies depends on creative skills and maintaining client relationships. Large companies benefit from being able to serve the varied needs of major customers. Small companies can compete by focusing on niche markets or by offering lower pricing. The US industry is fragmented: the top 50 companies generate about 40% of revenue.
Products, Operations & Technology
Major services are advertising for print, broadcast, and online media (about 25% of industry sales), public relations (12%) and direct marketing (10%). Other services include display advertising, media buying (reselling advertising time or space), and media representation (selling advertising time or space on behalf of media outlet owners).