Harvey Norman SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Harvey Norman, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Harvey Norman to benchmark its business & performance as compared to the competitors, and make strategic improvements. Harvey Norman is one of the leading brands in the lifestyle and retail sector.
The article below lists the Harvey Norman SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Harvey Norman SWOT Analysis:
In this article:
For Harvey Norman, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Harvey Norman looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Harvey Norman :
1. Largest Australian based retailer of electrical and entertainment goods
2. Wide spread in countries like New Zealand, Malaysia, Singapore etc.
3. Attractive promotional offers to attract consumers from all strata
4. Has nearly 250 stores globally
5. Over 10,000+ employees form the workforce
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Harvey Norman SWOT Analysis:
1. Company faced controversies under alleged illegal business practices
2. Stiff competition from global players means market share growth is limited
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Harvey Norman SWOT Analysis:
1. Providing high quality products even at low prices is a tactic company could apply to win consumer mind
2. Expansion into lifestyle product segment by leveraging on brand name
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Harvey Norman are as mentioned:
1. Consumer durable segment is highly conscious about quality and brand name
2. Maintaining consumer top of mind position is consumer durable segment
3. Prices of electrical categories products have been decreasing year on year
There are several brands in the market which are competing for the same set of customers. Below are the top 5 competitors of Harvey Norman:
Hence this concludes the Harvey Norman SWOT analysis.
Continue reading more about the brand/company.
|Harvey Norman Overview|
Harvey Norman Holdings Ltd
Deliver everything to everyone
|Harvey Norman STP|
Cost conscious group
Middle class and upper middle class
Everything to everyone in profitable manner
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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