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Theoretical Aspects of Increasing the Competitiveness of the Organization by Managing the Public Relations System
Morozova N. L., Kardash M. M., Petrykiva T. V.

Morozova, Nadiia L., Kardash, Mariya M., and Petrykiva, Taisiia V. (2024) “Theoretical Aspects of Increasing the Competitiveness of the Organization by Managing the Public Relations System.” Business Inform 11:386–393.
https://doi.org/10.32983/2222-4459-2024-11-386-393

Section: Management and Marketing

UDC 338.2.65.013

Abstract:
The article highlights issues related to the formation of demand for products, emphasizes the importance of developing an effective strategy for promoting a product or service. Attention is focused on the importance of public relations for new organizations that have not yet found their niche in a competitive market and for existing ones. The paper pays considerable attention to the competitiveness of a banking institution. The article considers the concept of bank competitiveness from the point of view of scientists in terms of determining the key aspects of the bank's activities, including: competition, diversity, evaluation, leadership, system. Based on the analysis of existing interpretations of the concept of bank competitiveness, it is determined that none of them includes aspects of effective management of the public relations system, which is currently important in promoting a banking product to a client. To confirm this statement, the paper examines in detail the essence of PR, provides historical examples of public relations that have become the prototype of current PR campaigns, and considers the main advantages of public relations in comparison with other means of influencing the consumer. The paper notes that PR is a long-term process that requires clear planning, time and step-by-step implementation and involves not only building a reputation but also strengthening trust in the organization. The article defines and reveals the essence of the main stages of PR, which include: setting its tactical goals, assessing the external communication environment, planning a PR campaign; its implementation, control and evaluation of the effectiveness of PR activities. Based on the study, it is noted that an effective PR strategy is the foundation of an organization's growth and competitiveness and therefore it is proposed to expand the main indicators of competitiveness and add an effective PR strategy of the bank to them. The paper examines the impact of external and internal factors on the bank's competitiveness to operate successfully in today's environment and proves that organizations must be able to adapt to changes in the external environment and the banking market, improve strategic management and invest in development for further long-term success.

Keywords: product promotion strategies, bank competitiveness, public relations management, an effective PR strategy of a bank.

Fig.: 2. Tabl.: 1. Bibl.: 24.

Morozova Nadiia L. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Management, Business and Professional Communications, Educational and Scientific Institute «Karazin Banking Institute» of V. N. Karazin Kharkiv National University (55 Peremohy Ave., Kharkiv, 61174, Ukraine)
Email: [email protected]
Kardash Mariya M. – Masters Student, Educational and Scientific Institute «Karazin Banking Institute» of V. N. Karazin Kharkiv National University (55 Peremohy Ave., Kharkiv, 61174, Ukraine)
Email: [email protected]
Petrykiva Taisiia V. – Bachelor, Educational and Scientific Institute «Karazin Banking Institute» of V. N. Karazin Kharkiv National University (55 Peremohy Ave., Kharkiv, 61174, Ukraine)
Email: [email protected]

List of references in article

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