Harvey Norman Case Study
Executive Summary
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.
Situational Analysis
As at 31 December 2009, there were 195 franchised complexes throughout Australia. They have also rapidly expanded their offshore markets over the past few years, there are 70 company-owned stores located in New Zealand (31 stores), Republic of Ireland (14 stores), Malaysia (6 stores) and Slovenia (3 stores). The Global economy has suffered a severe downturn at the beginning of 2009 which has contributed to HN’s dramatic loss. In response to this HN will need to adjust its marketing plan in an attempt to attract customers to their businesses.
SWOT Analysis
Strengths Weaknesses
*Brand name in Australia, no doubt the best in Australia * The company is over reliant on its Chairman, Gerry Harvey
*The company continues to adjust to suit market changes * Lack of independence on the board, wrong decisions could be made.
Opportunities Threats
*There will be many more variations of consumer and office * If Gerry Harvey decides to step down
Equipment that will be on the market in the years ahead * Bad publicity over pricing and marketing
(Diagram) HN is – Business declined 40% between 30th June 2008 – 30th June 2009
To address the company’s losses, it plans to review the makeup of the board of directors as many of them have been there for more than 15 years. The property development business and fast track introduction of a full scale online shopping strategy across the brands.
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.
Situational Analysis
As at 31 December 2009, there were 195 franchised complexes throughout Australia. They have also rapidly expanded their offshore markets over the past few years, there are 70 company-owned stores located in New Zealand (31 stores), Republic of Ireland (14 stores), Malaysia (6 stores) and Slovenia (3 stores). The Global economy has suffered a severe downturn at the beginning of 2009 which has contributed to HN’s dramatic loss. In response to this HN will need to adjust its marketing plan in an attempt to attract customers to their businesses.
SWOT Analysis
Strengths Weaknesses
*Brand name in Australia, no doubt the best in Australia * The company is over reliant on its Chairman, Gerry Harvey
*The company continues to adjust to suit market changes * Lack of independence on the board, wrong decisions could be made.
Opportunities Threats
*There will be many more variations of consumer and office * If Gerry Harvey decides to step down
Equipment that will be on the market in the years ahead * Bad publicity over pricing and marketing
(Diagram) HN is – Business declined 40% between 30th June 2008 – 30th June 2009
To address the company’s losses, it plans to review the makeup of the board of directors as many of them have been there for more than 15 years. The property development business and fast track introduction of a full scale online shopping strategy across the brands.