Harvey Norman Holdings Limited Essay
Footings of Mention: This Report is designed to show the pupils apprehension of IMC. The study was prepared for Mr. Paul Morrissey. Lecturer of Integrated Marketing Communications. Background: The intent of this study is to assist the pupil acquire a apprehension of hold different selling techniques are used in mundane state of affairss through different signifiers of advertisement runs. The intent of this is to reenforce the cognition the pupil has acquired in category. The company that will be capable of this study is Harvey Norman Holdings Limited. Aims: To supply and overall state of affairs analysis of the company.
To research the company’s advertisement run and determine who the mark market are. Analyse the cardinal signifier of marketing communicating used and the company’s Unique Selling Point ( USP ) . To analyze the media planning used for the run. To supply a elaborate overall rating of the selling run. Methodology: The information used in this study was found through the usage of secondary research in the signifier of cyberspace based searching.
Findingss: Overview of Harvey Norman Holdings Limited: Harvey Norman is an Australian company and is a world-wide retail merchant of furniture. bedclothes. electrical. and computing machine. It has been in operation since 1961 when laminitiss Gerry Harvey and Ian Norman set up the concern. Harvey Norman has about 300 shops worldwide. CITATION Har12 l 6153 ( harveynorman. Internet Explorer. 2012 ) Situational Analysis: Porter’s Five Forces: This theoretical account helps exemplify the strengths and failings of an industry through five factors that are as follows:
Competition in the market
Potential new Entrants
Power of providers
Power of clients
Menace of replacement merchandises
CITATION Inv12 l 6153 ( Investopedia. com. 2012 ) Competition in the Market: There is big competition in this industry as it is an industry that has been around for a comparatively long clip. Therefore more companys such as Currys. Ikea. and D. I. D electrical. besides compete in this market.
Potential New Entrants
There is a low menace from possible new competition as there are significant barriers to entry in this industry. These barriers include: 1. High Capital Requirements: for this industry a new company would be required to stock a big volume of a big scope of comparatively expensive merchandises every bit good as a big shop to keep it all and big sum of staff and distribution costs. 2. Brand Loyalty because Harvey Norman has worldwide acknowledgment and a strong trade name consciousness clients would be more inclined to lodge with what they know already ie Harvey Norman merchandises.
Dickering Power of Suppliers:
For Harvey Norman there is a big scope of providers for all the types of merchandises the company sells. Because there is such a big volume of providers in this industry. the providers Harvey Norman uses have small to no dickering power against Harvey Norman as they could merely exchange to another provider and so the provider would lose out on the high volume majority purchasing that Harvey Norman would be utilizing.
Dickering Power of Customers:
Because Harvey Norman trades in such a big assortment of merchandises. from Furniture to computing machines. it attracts a big volume of clients for each of these merchandise classs. This gives them a big base of clients to get down with. Besides the fact that Harvey Norman sells alot of recognized trade names clients are inclined to buy what they know. But due to the high competition from other similar concerns. such as Ikea. the clients have a nice sum of dickering power as they may take to take their concern elsewhere.
Menace of Substitute Merchandises:
There is really small menace from replacement merchandises to Harvey Norman as a whole due to the big assortment of merchandises stocked and the types of merchandises stocked. CITATION wik12 l 6153 ( wikiwealth. com. 2012 )