THINK Public Relations WilcoxCameronReberShin Ch 15 Corporate Public

THINK Public Relations Wilcox/Cameron/Reber/Shin

Ch 15: Corporate Public Relations

Overview ● ● ● ● Managing corporate reputations Media relations Customer relations Employee relations Investor relations Marketing communications Environmental relations Corporate philanthropy

Managing Corporate Reputations ● Public suspicion and distrust of giant corporations and business in general ● The role of public relations ○ The importance of corporate social responsibility ○ The eyes and ears of an organization ○ Reputation management

Image of Corporations ● The large size of corporations can distance them from stakeholders. ● Why do corporations seek to achieve better reputations? It helps the bottom line. ● A survey conducted by Hill & Knowlton found that Canadian CEOs believed print and broadcast media were the biggest threat to their company’s reputation.

American Opinions about Big Business

Corporate Citizenship by the Numbers

What Do You Think? ● Why is CSR important to today’s corporations? How does public relations contribute to CSR? ● What is CSR? Corporate Social Responsibility

Media Relations ● Many CEOs see journalists as the enemy. ● PR must educate both the organization and the press.

Customer Relations ● Customer Service is the front line of public relations. ● The importance of customer satisfaction for loyalty, positive word of mouth, and reputation ● PR must actively listen to consumers and convey concerns back.

Consumer Activism ● DO ○ Work with those interested in solutions ○ Offer transparency ○ Turn suggestions into action ● DON’T ○ Get emotional ○ Work with those who make threats ○ Expect immediate results

Consumer Boycotts ● Boycott ○ A refusal to buy the products and services of an offending company ○ The efficacy of consumer boycotts is mixed.

Employee Relations ● Employees are the “ambassadors” and a primary public of corporations. ● PR often works with human resources on employee communications. ● Challenges ○ Morale ○ Sexual harassment ○ Layoffs and outsourcing

Investor Relations ● Requires knowledge of finance and government regulations ● Investor relations staff primarily communicate with institutional investors, individual investors, shareholders, prospective shareholders, and the financial media.

Marketing Communications ● Product publicity ○ Product publicity and product placement are often part of marketing communications. ● Cause-related marketing ○ Involves partnerships with nonprofits to promote a particular cause

Corporate Sponsorship ● Enhance reputation ● Give product brands high visibility ● Provide a focal point for marketing efforts and sales campaigns ● Generate publicity

Viral Marketing ● “Buzz” about a product or service ● Enhances reputation management and message dissemination ● Adopted terminology and some special techniques

Environmental Relations ● Corporate concern for the environment and sustainable resources ● Examples ○ ○ ○ Shell American Apparel Proctor and Gamble Starbucks Coca-Cola Merck

Corporate Philanthropy ● Strengthens reputation ● Increases favorable publicity ● Be careful about touting good deeds.

Charitable Donations by Corporations

Corporations should participate in corporate philanthropy in order to build: business. , brand equity, stakeholder relations…

Corporate sponsorships provide: reputation and image enhancement, brand visibility, a focal point for marketing and sales, publicity and media coverage

The primary purpose of “viral marketing” is to: stimulate impulse purchases or downloads.

The initials IPO stand for: (and why is this important to business? ) initial public offering

What government regulatory agency oversees the financial matters of public companies? Securities and Exchange Commission

In the United States, which government agency regulates truth in advertising? Federal Trade Commission