Marketing Mix Of Harvey Norman And JB HI-FI

Introduction

The purpose for this report is to analyse the marketing mix of Harvey Norman and JB HI-FI on two competing products, compare both marketing mixes to find the most effective marketing strategy.

A marketing plan is a useful tool in the world of business. The four P’s of marketing are product (or service), promotion, price and place, this is a good way of defining the marketing mix. A successful marketing mix has many benefits, such as promotion can increase product sales, price can help stay competitive, product can help reach business goals and place can help your business target a specific audience.

Harvey Norman

Harvey Norman is a big retailer of home goods such as electrical appliances, furniture, entertainment, bedding

2. Needs and wants of the demographic group:  Upgraded technology that can offer a unique experience

 Compact and easily portable

 Two in one product

3. How the needs and wants of targeted group are reflected in the marketing mix:

The marketing mix reflects the demographic group through the product’s discounted price, promotional bonus gift voucher, advertised as a student’s study tool, distributed by delivery and by personal means and by the products unique features that are wanted and needed by the targeted group.

JB HI-FI

JB HI-FI is a one of Australia’s fastest growing retailers of home entertainment. The retailer stretches to 122 stores in Australia and New Zealand. JB offers a wide range of products such as home theatre, stereo’s, tables, games, computers, car sound, cameras and much more. JB HI-FI’s main goal is to offer the best brands and products.

Goals and objectives

Increase the number of stores by 13-15 per year with a long term goal of 214 in Australia and New Zealand.

Vision statement & values

1. Vision statement

To deliver a special range of products at Australia’s cheapest prices.

2. Values

 Trust



Distribution strategy

The product is distributed by direct distribution and through delivery.

2. Method of transport

Method of transport from the distributer to the store/building is by delivery trucks.

Primary group target

1. Demographic group

The Samsung Galaxy tablet S primary targeted group is men and women from 18-25 years of age with an average income.

2. Needs and wants of the demographic group:

 More features to play with

 Compact and easily portable

 Two in one product

3. How the needs and wants of targeted group are reflected in the marketing mix:

The marketing mix reflects the demographic group through the product’s discounted price, the product has a mix of unique features, promoted as a gift for young adults, distributed by delivery and by personal means and by the products unique features that are wanted and needed by the targeted group.

Findings

1. Harvey Normans identified marketing mix Product

Samsung Galaxy tablet S ‘10.5’ 16GB

Price

$587.00

Promotion

 Bonus $50 Harvey Norman gift voucher

 Advertisement in current catalogue & on the website

 Advertised as a father’s day gift

 On special/discounted price

Place

The product is available in store and the online