Careworn PR firms straining to retain clients
By siliconindia   |   Monday, 15 December 2008, 17:10 IST   |    5 Comments
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Careworn PR firms straining to retain clients
New Delhi: The trampled economy is taking a toll on the public relation (PR) firms with the companies putting constrain on their image building budgets. Associated Chambers of Commerce and Industry of India (ASSOCHAM) has asserted that the Indian PR companies are struggling hard to retain their clients. "As against the normal 25-30 percent growth rate the industry has been experiencing over the past five years, growth in this year may be 10-15 percent," says Adfactors public relation Managing Director Madan Bahal. So, these firms are reportedly stressing themselves to renegotiate terms with their clients, who are unwilling to fritter hefty amounts on public relations. A top executive in the industry said, "As far as it is manageable and affordable, we are not against giving some relaxation to the suffering business houses." However, some of the PR firms are yet not attacked by the slowdown at the national level though certain concerns do arise when it comes to dealing with the business houses at the international level. "It's very natural to have an adverse impact when global economy is not in a good state. It is testing time as well as an opportunity for the industry to come up with innovative ideas and new plans to reinstate the image of their clients in a weak market," Integral PR CEO Sharif Rangnekar said.

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