How important is public relations to a business?

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I have seen business organizations put everything into public relations. They go the extra mile in public relations efforts and moves.

Is public relations so important for a business that it goes all out for it? What does a company stand to gain by investing so much in public relations?
 
Public relations mainly has to go with dealing with the public or potential customers and target audience, how you deal with them determines if they would return or not.
 
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