Analysis of the Opportunities for Growth for a Swedish Pr Company

Analysis of the Opportunities for Growth for a Swedish Pr Company

  • Submitted By: rister89
  • Date Submitted: 12/10/2013 7:54 AM
  • Category: Business
  • Words: 295
  • Page: 2
  • Views: 90

Growth can be defined broadly or narrowly, in this paper we focus on growth of the company’s product set. We find it important to identify demands on PR/communications companies and how Prime can use this information to expand and grow it’s product set, in order to stay competitive and grow organically. We have identified that one trend in market research is an increasing importance to incorporate Big Data analytics to deal with the increasing amount of unstructured data that the developments in social media has generated. This trend can also be identified in PR as it is becoming increasingly common to ask for greater legitimacy in the work performed, which Big Data can bring since most people believe in information backed by data and numbers. There is also an increasing trend to ask for real-time information from communications consultants. In our analysis, we’ve derived that United Minds, is operating in a in an attractive industry but is not reaching it’s full potential. Primegroup is missing out on a potential for growth, both in United Minds and Prime PR due to the opportunities to leverage the capabilities and innovativeness of United Minds to strengthen and enhance Prime PR. We propose, in order to stay to innovative and in line with emerging trends, to gradually increase the rate of investment and incorporate more analytical tools and human resources capable in Big Data analytics into United Minds, which is, as a market research company, best equipped to integrate these resources. These could then be also used to strengthen Prime PR and enable Primegroup to stay in the forefront of innovation and communication. In this way, Prime could expand its product offer to customers and possibly change the Swedish industry like the company has done before.

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