2013

Harvey Norman
Marketing Plan
[Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.]

A Sunita Bhatia 5/27/2013

Contents 1.0 Company Overview 1.1 Business Description 1.2 The Product or Service 1.3 The Industry 1.3.1 Competitor Analysis 1.3.2 Industry Trends 1.3.3 Competitive Advantage 2.0 Market Plan 2.1 Pricing Strategy 2.2 Market Research 3.0 SWOT Analysis 4.0 Organisational structure 5.0 Financial Plan 5.1 Contingency Plans 5.2 Risk Evaluation

1.0 Company Overview

1.1 Business Description Harvey Norman holdings is the large Australian based retailer established in October 1982, by Gerry Harvey and Ian Norman offering an extensive range of products and services to offices,households and many other consumer groups.It is the franchisor of several other Australian retail chains such as Doamyne, Joyce Mayne, Ariston Appliances and Space Furniture.Harvey Norman Hodlings limited has over 230 stores in Australia, Singapore, New Zealand, Malaysia, Slovenia, Croatia, Ireland and Northern Ireland.The company today has contributed to societal marketing with its association with different sponsors such as The New Zealand Breakers in National Baseball League and The Richmond Tigers in the Australian Football League and local theater groups.It is the key of H & N Business.The Company is a family business which owns market share of 30 % and ranks 169 among the top 2000 companies in Australia (Harvey Norman holdings,2012) 1.2 The product or Service: Australias leading retailer has a wide range of Products and Services such as white goods, electrical appliances,computers,beddings,furniture,lounge suites etc.,The extensive range of products and services covers almost every range of product from daily use to occassional usage.The concept of selling allows consumers to shop under one roof.It contributes to time utility to a great extent and the quality of products offerred, along with professional and personalised services from the dedicated staff to ensure customer satisfaction.(Harvey Norman Commercial,2012) 1.3 The Industry 1.3.1 Competitor Analysis The following competitors were identified in the research The main competitors in the market were JB Hifi, woolworths Limited, David Jones limited and Myers Limited, others include Bunnings warehouse etc., The competitors have sufficient market share and relative experience in the products and services that they offer.Products are extensively available through their stores and online sale facility provided to the consumers.(Hoovers,2013) 1.3.2 Industry Trends Affordable products availablity and their accessibility are being made available to the customers to gain competitive advanatge. Harvey Norman with its extensive range of products and services has achieved great value in the minds of Baby Boomers and generation Y.The generation Y, those born in 1981-1994 (Aged from 20s-30s)has a great influence on the minds of Baby boomers(Aged roughly 47-65) in the 21st Century. For instance ,the need to buy a computer from Harvey Norman is more of a trend driven from technology which will drive the interests of parents of the person who wishes to carry a product from

Harvey Norman.(The Age Home,2011). The current positive trend in the consumer spending pattern is to be exploited by reasonably pricing and effectively marketing the products and services. 1.3.3 Competitive Advantage Brand Loyalty The company has been the pioneer in retail industry and it has created brand loyalty among its clients.The one stop shop for all the consumer durable goods. Location Accessibilty for its customers have made Harvey Norman a desired choice.The company has over 180 Stores across Australia.This helps in local shopping experience. Wide Choice The extensive range of products and services are offerred ranging from white goods to furniture, beddings and so on.The products offered range form daily use products to lavish dcor products that add aesthetic appeal to the home and offices.The varied range comprise of computers, white goods,games, cameras,fitness equipments,furniture, beddings and so on.The quality of products available is high and that contributes to the loyalty of the consumers. High Reliability The buying guide assistance provided to customers to understand the right product for the right need and usage distincts it from other competitors. It is the environment commitment of the company that promotes Australian made furniture. Hot Deals Offer The Company offers trusted branded products at affordable prices that suit different age groups taste and preferences. Demonstration Effect The customer are assisted in establishing the functioning of the product with the help of the Customer service people.The products are demonstrated by the staff to understand the operations of the product. After Sale Services The sale of product brings along other services such as installation, servicing and delivery.The company takes care of such services that saves and effort of its clients. Moreoverthe status of the delivery can be tracked through the onlne account of the clients which avoid the fear of its clients. Compare Option The company products available online has the option of comparing the products chosen from its online sale. It helps the customer to ascertain the price variableas so as to decide the best product to be chosen from the range of offers. Featured Catalogues The featured products online are explanatory that helps the customer to have a fair idea of the offer.It provide the customer to scan the product with its high tech features such as the zoom in option which establishes the product features clearly.

STRENGTHS

WEAKNESSES

Global Brand Competitive Pricing Accessibility of Shops Extensive Range of Products offered

Inflexible Marketing Disconnected with customers Orthodox

OPPORTUNITIES

THREATS

Online customer Focus Mar

Competitors Re

Boston Consultng Group(BCG) Model

Mission and Objectives: The retail giant works with a mission to cover almost every household it has become a household name and as said in their slogan Go Harvey Go Harvey Go Harvey Norman.The companys commitment on better pricing options says We wont be beaten on price which promises to pay the customer 110 % of the price differences in case if it is find cheaper any where else.(Harvey Norman Reviews)

Recommendations & Implementations: The retailers need to have a good understanding of customers at a micro level which will help them to develop a strong relationship with the core customer group.Marketing the products through the traditional channels such as TV, radio, newspapers, magazines, catalogues & brochures need to be channelzed to individual consumers and concentrating on the preferences of a customer as an individual.(Birtles,2012,p.5)

The more benefits given to consumers will attract them to spend more irrespective of the price that is why the people spend more on baby products despite their prices which is three to four times higher than that of the adults. In order to maintain relationship with its customers the company can concentrate on certain principles

References 1. Birtles.P(2012). Sector insights: Retail.Retrieved from http://www.nab.com.au/wps/wcm/connect/c575b0804c32083985948db894a02f85/NABInsights-RetailJune2012.pdf?MOD=AJPERES&CACHEID=c575b0804c32083985948db894a02f85 2. Harvey Norman Holdings.(2012).Company profile.Retrieved from http://www.harveynormanholdings.com.au/pdf_files/Company_Profile_2012.pdf 3. Harvey Norman Commercial Division.(2012).About Harvey Norman Commercial.Retrieved from http://www.harveynormancommercial.com.au/about/ 4. Hoovers- A D & B Company. (2013).Harvey Norman Competitors

http://www.hoovers.com/companyinformation/cs/competition.Harvey_Norman_Holdings_Limited.b4dc37b5dbdf9a4f.html 5. Product Review (2003-2013) Harvey Norman questions and answers. Retrieved from http://www.productreview.com.au/qa/harvey-norman.html#questions-and-answers 6. Holroyd. J (2011,July 20). Talkin about my label . The Age.Retrieved From http://www.theage.com.au/lifestyle/diet-and-fitness/talkin-bout-my-label-201107201ho7s.html 7.