Week Task 1 – Promotional Strategies

 

Harvey Norman- Laptops

Harvey Norman is one of the large Australian Based, Multi-national retailers of furniture, computers, communications and consumer electrical products. It mainly operates as a franchise and deals with various product of different brands and owned by ASX-listed Harvey Norman Holding limited. This paper is mainly focused on Promotional strategies that Harvey Norman use to sell Laptops. In order to create an effective awareness about the products such as Laptops, it firstly uses Native advertising i.e., employing native advertising and increasing brand awareness and winning new customers. It also run Facebook and Instagram ads. It also partners with influencers on YouTube to review brands. Moreover, it also uses content creators. Another way of Promoting is asking the customers to try its product which can be achieved by offering a loyal customer an exclusive product, use a special introductory offer, spread the word via emails, host an event, offer a complimentary update which basically helps the customer to create a path to make sure at least 50-70% of people buy it. One more way that Harvey Norman uses to properly promote is by overcoming the customer and seller communication gap. It has been achieved by appealing the product, keeping it simple and consistent, keep it accurate, cue up better customer experiences. Harvey Normans also has a system where they keep record of valued customers i.e., who buys product more frequently. Harvey Norman also tries its best to maintain the good bond with them my simply staying in touch and encouraging their integration, by making sure the most of social media, by getting personal, by keeping it very easy for them to solve the issues, keeping everything simple for them and taking responsibilities, bow out gracefully as it is becoming a very effective customer retention. Another strategy that Harvey Norman uses for their success it giving offers or using strategies like sales, outlet shopping, unbundling forces the customer to spend more money buying laptops or any other related electronics or household items. It also includes aspirational buying, compliments, handling the product, extras you thought were standard, paying by credit cards, professional advices, loyalty programs, automatic renewals, celebrity endorsements, independent awards, friends sign you up, getting something free. Last but not the least, finding more customer and expanding the business is a big challenge and there are various strategies but the most effective and cost efficient one is “Tailor your products and service to meet their specific requirements” are the one Harvey Norman use to make sure they get more customers.

 

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https://www.news.com.au/finance/business/retail/harvey-norman-records-30-per-cent-sales-jump-in-three-months/news-story/70f3f5f365535082ad4054ec99107a88

 

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