Computers and Electronics is a booming industry with technology enhancing rapidly and products available not only in the marketplace but also in market space i.e. E-Commerce. Online market is growing day by day with many taking advantage to compare the best process available for products. Harvey Norman will need to embrace and collaborate E-Commerce as competition is Fierce and Harvey Norman is stepping late into this booming online industry.
2. Brief background of the relationship between Harvey Norman and the industry context.
Harvey Norman is a main brand name in the three brand names under Harvey Norman Holding Limited. It is an Australian Retailer Giant that comprises of Electrical, Computers …show more content…
However, the majority income of the company is generated from Furniture Retailing in Australia industry; therefore, the target market is families.
5. Customer value.
- Firstly, the very latest products are deliberately showcased in all stores.
- Secondly, price skimming before commencing a series of discounts. Include extra features such as extended warranties and easy ﬁnance.
- Thirdly, superstores locate in major malls and new stores position in growing regional centers.
6. Recommendations to senior management
- Management culture needs to change to adapt with the new online industry. Creating an attractive and friendly web site is vital so that customers can access the information about products from Harvey Norman and buy the products everywhere and whenever they want instead of coming to the stores.
- Developing sustainability plan is essential for the company’s sustainable development.
Harveynormanholdings (n.d). Harvey Norman company profile. Harveynormanholdings.com.au. Retrieved 4th April, 2013 from http://harveynormanholdings.com.au/pdf_files/Company_Profile_2012.pdf
Ibisworld (2012). Harvey Norman Holdings Ltd - Premium Company Report Australia. Ibisworld.com.au. Retrieved 6th April 2013 from http://www.ibisworld.com.au/car/environment.aspx?entid=3662
Milman, O (n.d). Kogan escalates battle with Harvey Norman with new range. Startupsmart. Retrived 4th April 2013 from
The Marketing process is made up of simple concepts that involve lots of research on the part of the marketer. The process begins with understanding the consumer, without knowing what consumers need or want, it would be extremely hard for firms to both develop and sell a product. Knowing that consumers want more green products due to growing environmental concerns is a very important detail. Needs and wants are what fuel consumer purchases and marketers must perform research in order to best serve their customers. Through this research, marketers are led to the next step of the process and can now develop a customer driven marketing strategy. Here, the firm must decide how it will differentiate its product from others on the market.
Harvey Norman holdings Ltd has its strength on the scale of retails, such as electrical products, furniture and so on. It has a very popular slogan saying that ‘Go Harvey, Go Harvey, Go Harvey Norman’, which makes a brand effect for the company. Besides, with the comparative advantage of its size, the HVN also has superiority of buying in bulk. It has relative lower cost for retail so that the price will be lower. Moreover, Harvey Norman follows the solid franchise model, which shows that approximately 35% of its revenue is generated from its franchise.
The strengths of the Lowe’s Company include: established presence and efficient merchandising, strong logistics and distribution system, and focus on seamless multi-channel experience. Right now Lowe’s is the second largest home improvement retailer in the world and are currently number fifty-four on the Fortune 500 list. They are also number thirteen in the top fifty US retail brands list. They cater to numerous customer types through their stores and have a proficient marketing plan that they use to increase their customer base. As of this past February, Lowe’s has operated 1,745 stores with only thirty-one in Canada and two in Mexico. Each of the different stores make up specific sections to effectively target the different needs the
Currys PC World is the biggest online electrical retailing store that is operating in the UK as well as Ireland. The organisation tends to significantly attract number of customers each year from national as well as international consumer market as the e-commerce website of Currys PC World is functional around the world. The company represents to have wide range of white good, telecommunication ranges and information technology products for both male and female customers. The online-only business model of Currys PC World makes it highly possible for organisation to sell the products at preferably lower prices, thus organisation is engage in increasing customer loyalty through which expand its market share as well as attain competitive advantage
Top managers develop long-range plans, called strategic plans that define the company's overall mission and goals. Strategic planning focuses more on issues that affect the company's future survival and growth. To develop strategic plan, top managers also need information from outside the company, such as economic forecasts, technology trends, competitive threats, governmental issues and shareholder concerns.
effort by Lowe’s to expand their service offerings to become an end to end solution provider for customer’s kitchen remodeling projects. The main challenges faced by Simpson were how to move into kitchen remodeling business? and how to position Lowe in the market? Another challenge was how to reach the customers. With NGIS there is a greater emphasis on customer interaction, this can be achieved by creating an integrated marketing communications plan that would combine the traditional as well as emerging marketing communications channel. The key challenge here
According to the company’s profile, Harvey Norman Holdings Ltd is one of leading retail chains in Australia, which has franchisors, company-owned stores and properties across the world (Australia, New Zealand,
The first is the great need for small businesses for future economic growth, locally and internationally. There is a tremendous need for small business to keep up with technological advances and environmental changes. Small business can innovate and create new jobs at a faster rate than their larger competitors. Unfortunately, living in times of high crime, recurrent
According to Turban and King (2003), internet technology renders retailers an additional channel for branding, transactions and customer relationship management, the adaptation of which may drive down retailers’ transaction costs, and ensuring faster and higher quality of customer interactions, resulting in enlarging the existing markets and consumer base. M&S realizes this and have tried to sell clothing via high street stores as well as via internet though they have experienced cost cutting, rationalisation and management changes in order to revive their business in recent years. Internet technology might enable sustainable competitive advantage, but problems remain on how to physically organize their online retail operations.
Now web based shopping and stores have the capability to reach more consumers and entail lower startup costs (Lang, 2016). However, one of the major drawbacks on online retail is drawing in customer awareness about your business. As, online businesses involves investing in vast amounts of innovative ways in which to market your services, products, and actual website or you will lack being nonexistent to consumers because they have no real active way of knowing about you. Marketing is a highly important aspect of online retail as it vitally important to build awareness and enticement to your business as well as build customer loyalty. Moreover, marketing in its traditional capacity of manufacturer to wholesaler, to retailer still is alive and well today, however customer demands for lower costs and ease of convenience have placed an added amount of pressure on all marketing channel intervenor to account for their existence (Ferrell & Hartline, 2014). Additionally, other forms of distribution have emerged more opportunities for more direct distribution such as catalog and direct marketing, direct selling, home shopping networks, vending, and direct response advertising (Ferrell & Hartline, 2014, p. 178).
HN (Harvey Norman) (established in 1982) is recognised as one of the most efficient businesses in Australia at marketing their products predominantly in regard to knowledge and the implementation of their Marketing Plan and the necessity in regularly monitor the effectiveness of the marketing plan. The role of marketing is to connect a business with their consumer and the potential or future customer base. The role of marketing in HN is a huge part of its success story.
Harvey Norman is now a public company that is listed on the stock exchange, whose principal activities primarily consist of an integrated franchising, retail and property entity. It is one of Australia’s most successful retail groups, operating more than 150 franchised department stores, which focus on selling computers, home entertainment equipment and home appliances. It offers Australian consumers an extensive product range, cutting edge technology and market leadership in most product categories. In this report, an in depth industry and company analysis will be provided in order to gain an understanding