Strategic Analysis of the Harvey Norman Harvey Norman Executive Summary

Harvey Norman

Harvey Norman
Executive summary
This paper will highlight the strategic analysis of the Harvey Norman which is one of the largest
Australian companies. Strategies are essential for the companies as it can help in boosting the
sales and market share. If effective strategies are considered by the companies then only it can be
easy to maintain the competitive advantage and to complete with the competitors that exist in the
market. It has been examined that company considered the strategies which are essential and also
assisted in maintaining the image in the competitive market. In the first phase of the paper, the
background and strategies of the company will be discussed in relation to the corporate level
strategies. The next part of the paper will highlight the current strategies which are used by the
company. The current strategies which will be discussed in reference to Harvey Norman are Low
price strategy; promotional strategy, Networking strategy, training and development, Omni
channel strategy. These strategies are beneficial in boosting the efficiency and profits of the
company. In the last part, the overall analysis of the paper will be made. So, it can be stated that
strategies are important for the company and it should be considered so that growth can be
attained.
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Harvey Norman
Table of Contents
Executive summary.........................................................................................................................1
Introduction of the company............................................................................................................2
Strategies of the company................................................................................................................2
Business level strategies..................................................................................................................2
Corporate level strategies................................................................................................................3
Network, partnership and Alliances................................................................................................4
Global strategies and Multinational Corporation............................................................................4
Current strategies of Harvey Norman..............................................................................................5
Low price strategy........................................................................................................................5
Promotional strategy....................................................................................................................6
Training and development...........................................................................................................7
Strategy related to networking.....................................................................................................7
Omni channel strategy.................................................................................................................8
Customer store strategy................................................................................................................9
Conclusion.......................................................................................................................................9
References......................................................................................................................................10
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Harvey Norman
Introduction of the company
Harvey Normal is one of the biggest Australian retailers who provide products in the market. The
products which are offered in the market are in the category of furniture, consumer electronics
and also fun goods. There are franchisees of the company that help to manage the overall
activities in the competitive market. There are approximately 280 franchises and there are
various stores located in Australia, New Zealand, Europe and South East Asia under the brands
like Joyce Mayne and Domayne. Katie Page is the CEO of the company who focuses on
contributing towards the overall growth in the market (Harvey Norman, 2018).
It can be examined that company can enhance the market share in retail sector but due to high
level of competition from the companies like Coles and David Jones, the company has to face
various challenges. Harvey Norman is selected due to the creative strategies which are
considered. It has been examined that the company has wide product line in which there are
different segments provided in the market. The products which are provided by the organization
are in different segments like in furniture, laptops and video gaming. There is wide range of
products offered by company (Harvey Norman, 2018).
Strategies of the company
Business level strategies
Cost leadership strategy
It can be stated that company considered this strategy so that wide customer base can be
maintained and also the focus is on reducing the prices to maintain the large customer base easily
towards the products and services provided. Aim of Harvey Norman is to buy the products in
bulk from the suppliers so that the price ratio can be controlled and also due to this the products
price are reduced in comparison to the price of the competitor products like from Ikea and JB-
HIFI. From the initial level the company maintained the leadership strategy which has boosted
the overall success and growth of the company in the highly competition market (Armstrong,
Adam, Denize & Kotler, 2014).
Differentiation strategy
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