Harvey Norman's Marketing Strategies

Executive Summary:

Harvey Norman, a main brand name under Harvey Norman Holding Limited, is an Australian Retailer Giant that comprises of Electrical, Computers & Communication, Furniture and Home Improvements etc. It was established by Gerry Harvey and Ian Norman in October 1982.Harvey Norman stores operate on a global scale, with 166 stores based all over Australia and 68 in other countries i.e. Ireland, New Zealand, Slovenia, Singapore and Malaysia.

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.

To make a strong presence into online industry, Harvey Norman may need to change itself from being a Price Setter into a Price matcher instead, offering discounted products online, enticing customers to choose them instead of its main rivalries Dick Smith and JB Hifi.

Harvey Norman also needs to continue to market extensively when there is economic downturn with their 40 months interest free finance options allowing them to keep a hold of their market when consumer spending is low.

And finally, management culture needs to change to adapt with the new online industry that the company is entering in by respecting customer values and think more closely in in terms of their attitudes and operations throughout the organization.

Market Summary and Products:

Harvey Norman operates on a Business to Consumer business model where goods are sold directly to the consumers, available from the stores. Every market is different; therefore Harvey Norman has designed itself specifically to appeal different target markets. The products offered are divided into roughly six categories:

1. Computing: Laptops, desktops, accessories, storage hard drives and software

2. TV, Audio & Gaming: TVs, DVD players, home theatre systems, gaming consoles

3. Portable electronics: audio and video, mobiles phones, GPS, cameras

4. Home Appliances: Heaters, Air Conditioners, Washing machines, Full kitchen sets

5. Furniture and bedding: Bedroom furniture, decorations, home office, Manchester

6. Services: Photo Centre, finance options, cash-back and redemption, installation

With the type of products sold, Harvey Norman operates in a consumer based market segment and has decided to take the courage to step