With the evolution of IT and rapidly changing technologies, Nikon has implemented e-business strategies via the setting up of websites based in USA, Europe and Japan. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. The most competitors for Nikon are Canon, Casio, Kodak, Panasonic, and Olympus. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Strategic planning of Nikon Corp. 2. Initially, it will have an objective for branding. The range of camera produced by this company since its existence is included in Appendix 1. It operates in the following segments: Precision Equipment and Imaging Products, Healthcare, Industrial Metrology, and Others. SWOT Analysis is a strategic methodology to analyze the - Strengths & Weaknesses that Nikon Corp. possess, and Opportunities & Threats that the organization faces because of competitive and macro-economic factors prevalent in Japan. With a global healthcare market growth of 4.5% during 2007, the market is expected to reach a value of $ 170.5 billion by the end of 2012. The need to capture memories lasts for peoples entire lives, and business portraits require a regular update. Strengths: Nikon has a strong market position built on broad product portfolio. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Its different types of businesses include consumer and professional electronics, entertainment . Performing a SWOT analysis will feel different from anything you've done, so you may feel confused about how to start. - Wide geographic presence - Nikon Corp. has extensive dealer network and associates network that not only help in delivering efficient services to the customers but also help in managing competitive challenges in Scientific & Technical Instr. The SWOT Analysis is a useful methodological tool to analyze companies and arrive at a logical . Simultaneously, identifying the opportunities and threats present in the current market scenario will hint at their possible business strategies to tackle the situation. 2. They also produce lenses, sunglasses, and spectacles. It's most widely used by organizationsfrom small businesses and non-profits to large enterprisesbut a SWOT analysis can be used for personal purposes as well. Some factors like increased competitor activity, changing government policies, alternate products or services etc. 2. E-Promotion strategy will have to include banner promotions, web public relations and E-leaflets. Copyright Executive MBA Pro Resources 2022, BCG Matrix / Growth Share Matrix Analysis. High market potential for optical technologies 2. Learn how your comment data is processed. The optical technology business is predicted to grow, and new technologies are expected to require over the market especially in optical components. February 25, 2019 By Hitesh Bhasin Filed Under: SWOT of Brands. Nikon's manufacturing facilities are located in Japan. 6.0 PEST Analysis Although easy to remember and easily forgotten by firms in developing a long-term strategy, a "PEST analysis" is an acronym for analyzing the external environment (political, economic, sociological/demographic, and technological) and setting the stage for strategic planning. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. Some 62 percent of the population is made up of high-school graduates. Imaging Products manufactures and sells imaging products, and peripherals, such as compact digital cameras, digital single-lens reflex cameras, interchangeable lens cameras, and compact digital cameras. - High margins compare to Scientific & Technical Instr. industry should define the appropriate scope for the analysis. There are several brands in the market which are competing for the same set of customers. - Increasing customer base in lower segments - As customers have to migrate from un-organized operators in the Technology industry to licensed players. Check out these detailed articles on. Our rates are comparable to theirs, but we add value through personal contact and easy dissemination of digital images. The Eugene-Springfield metropolitan areahas atotal populationof 330,527. Effective integration of digital platforms like social networking sites in its marketing efforts has helped attract larger target audience, 5. If you are curious about learning what digital marketing is and how to use it to your advantage check out our Free MasterClass on Digital Marketing 101 by the CEO and Founder of IIDE, Karan Shah. The intellectual property rights framework is not very strong in emerging markets especially in China. It can help the management of the organization to optimize performance, look for new opportunities, manage competition, maximize return on resources employed, and minimization of various business and policy making risks. This relieved the customers of any special permits that they might need for buying a camera. Nikon, being leader in manufacturing of lenses, has four product segments: The figure below shows the missions of Nikon: The marketing strategy is in line with the corporate strategy of the company as it is currently making its brand image identified with high quality, reliability, and integrity. The threats for any business can be factors which can negatively impact its business. This has caused a negative image of the corporate amongst its customers. The market capital for semi conductors is expected to decrease by 22%. These students have put in a lot of effort in researching this topic to ensure that you gain in-depth knowledge and also help you complete your project (if thats what youre here for ) It will provide Nikon Corp. an opportunity to penetrate entry level market with a no-frill offering. Key competitors - A list of key competitors to the company. Secondly, as a function of becoming the preferred camera, it will acquire an increase market share by 10% by 2013. Even cell phones have digital cameras on them. SWOT stands for strengths, weaknesses, opportunities, and threats. Your email address will not be published. For Nikon, this does not constitute a problem as most of its users are professional photographers. It helps in identifying core competencies of the firm. Nikon is one of the leading brands in the consumer electronics sector. Conducting a SWOT analysis to identify the company's strengths, weaknesses, opportunities, and . Required fields are marked *. The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing,. It has business operations in the Americas, Europe, Asia-Pacific, and Oceania. The local players have local expertise while Nikon Corp. can bring global processes and execution expertise on table. To manage these competitive challenges and macro environment trends managers at Nikon Corp. can use SWOT to pinpoint specific threats and allocate requisite resources to deal with those threats. Overcome organization's threats. So, set a goal. | USD $175, Download our eBook: How to Succeed Using Market Research, Phone: 800.298.5699 (US) or +1.240.747.3093 (Int'l), Hours M-Th 3:00am - 6:30pm EST; F 3:00am - 5:30pm EST, Copyright 1999-2023, All Rights Reserved, MarketResearch.com, Computer Hardware & Networking Market Research, Electronics Company Reports Market Research, Meidensha Corporation - Strategy, SWOT and Corporate Finance Report, Nokia Corporation - Strategy, SWOT and Corporate Finance Report, Alcami Corporation - Strategy, SWOT and Corporate Finance Report, Bose Corporation - Strategy, SWOT and Corporate Finance Report, Entergy Corporation - Strategy, SWOT and Corporate Finance Report, Intrado Corporation - Strategy, SWOT and Corporate Finance Report, Coronavirus Disposable Medical Gloves Market Size, Impact of COVID-19 on Hand Sanitizer Market, Detailed information on Nikon Corporation required for business and competitor intelligence needs, A study of the major internal and external factors affecting Nikon Corporation in the form of a SWOT analysis, An in-depth view of the business model of Nikon Corporation including a breakdown and examination of key business segments, Intelligence on Nikon Corporation's mergers and acquisitions (MandA), strategic partnerships and alliances, capital raising, private equity transactions, and financial and legal advisors, News about Nikon Corporation, such as business expansion, restructuring, and contract wins, Large number of easy-to-grasp charts and graphs that present important data and key trends. Nikon Europe. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Weaknesses of Nikon Corp. can either be absence of strengths or resources of capabilities that are required but at present the organization doesn't have. Operating losses OPPORTUNITIES 1. It is facing stiff challenges from international and local competitors. Healthcare products are becoming in demand. Your email address will not be published. Let us start the Nikon SWOT Analysis: For Nikon, 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. A SWOT analysis is a way to evaluate strengths, weaknesses, opportunities and threats. SWOT ANALYSIS STRENGTH 1. Unlock Nikon Corp profile and new opportunities for your business. They always check out issues and check out to unravel them but when it involves understanding the customer needs Nikon may be a failure. They are also most likely to have the means and taste to want professional photos for their families, as well. Let us start with its SWOT Analysis by first looking at the Strengths of Nikon. 1. On the other hand, it . In the case of Nikon, embracing in e-business strategy has already started but still the resistance to change needs to be addressed. In our previous blog, we did a Detailed SWOT Analysis of Kodak. There is no legal requirement regarding purchase of a digital camera on the worldwide market. The uses of photography have expanded as well because of Web pages on the Internet andemail. Continue with Recommended Cookies. Using this strategy, the method of purchasing will be via the internet. - Competitors catching up with the product development - Even though at present the Nikon Corp. is still leader in product innovation in the Scientific & Technical Instr. SWOT analysis (strengths, weaknesses, opportunities and threats analysis) is a framework for identifying and analyzing the internal and external factors that can have an impact on the viability of a project, product, place or person. This swot analysis features 21 companies, including Konica Minolta Inc, Lexmark International Inc, Fujifilm Corp, Ricoh Co Ltd, Videndum plc, Nikon Corp, HP Inc 3. Establish cooperative agreements with other company THREATS 1. Ourtarget market is families of college-educated people who are most likely to be professionals. The SWOT Analysis of Sony Corporation will explore the strengths and weaknesses of, and the opportunities and threats for Sony. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. However, as more geographic market segments are being targeted for consumers with different cultures, Nikon will have to expand its servers and security for higher volumes of consumers. A SWOT analysis is a planning framework that a business can use to identify a strategic endeavor's strengths, weaknesses, opportunities, and threats. One of the reasons is that the adoption of products is slow in rural market. segment. Strengths are defined as what each business does best in its gamut of operations which can give it an upper hand over its competitors. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. These were in the turnover ration of 3%, 3.4% and 3.7% in the years 2006, 2007 and 2008 respectively. SWOT Analysis of Nike. To overcome these challenges companyname needs to build a platform model that can integrate suppliers, vendors and end users. - Commoditization of the product segment - The biggest challenge for Nikon Corp. and other players in the industry is the increasing commoditization of the products in Technology industry. Nikon being a dependent on semi-conductor market, can be affected by this reduced capital spending of semi conductor market. The study will examine SWOT Analysis in a historical, theoretical, time frame perspective, as an effective situation analysis technique which plays an important role in the fields of. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Euromonitor (2018), "Technology Sector Analysis ", Published in 2018. It can be used both for start-ups entering the new company and even by existing firms to drive forward their business and growth. Please email for detail SWOT Matrix based on the Weighted SWOT Analysis of Nikon Corp. Even with such advantages, it has some flaws in the market which affect its growth. Reverse its weaknesses. The companies are not associated with MBA Skool in any way.Edit the brand or add a new one to SWOT Analysis section : Contribute. Nikon may be a marvel at the latter but slows within the former. Using the marketing mix in the global market with e-business, the 4Ps wwill now become E-Product, E-Pricing, E-Place and E-Promotion. Nikon has shown strong monetary performances during the previous years. Sony offers its two types of customers. The company has played a critical role in setting and modifying trends in the photographic industry. Here's how to do a SWOT analysis the right way: 1. Assess Nikon Corporation as a prospective partner, vendor or supplier. Nikon Corporation - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. Set goals for the organization 6. - Rapid Expansion of Economy As the US economy is improving faster than any other developed economy, it will provide Nikon Corp. an opportunity to expand into the US market. industry. Access more premium companies when you subscribe to Explorer, Contact the team or request a demo to find out how our data can drive your business forward. However, using the core competencies approach, it can be deduced that Nikon has organisational capability for developing lenses use for cameras and other precision equipment. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Within the area where Nikon operated for a corporation to achieve success, it must have high innovation speed also as iteration speed. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.io. On the other hand, well-established political legislation enhances the standard of living in these countries. Intense competition in the digital cameras market can reduce market share of Nikon. SWOT analysis is one of the most effective methods of strategic planning. With a workforce of about 26,125 employees, based in Japan, Nikon Corporation has been one of the most reputable company involved in imaging products (56.9%), precision equipment (33.2%), instruments (7.8%) and others (2.7%). It is an essential practice for revealing the internal and external constraints that affect a business' performance and growth. Excellent advertising and branding exercises through TVCs, online ads and print ads of Nikon products, 7. - Talent management at Nikon Corp. and skill development of the employees - Human resources are integral to the success of Nikon Corp. in Scientific & Technical Instr. Key Highlights The company has branches in Europe, America and Japan. These professionals have families, too. Koyata Iwasaki founded the company on July 25, 1917. Wherever, the skills needed do not form part of their competencies, Nikon make acquisitions and merges with other leading companies as well as leveraging of synergy is used to strengthen its core competencies and organisational capabilities. More innovative product offerings for the customers. Direct competitors for Nikon in the imaging products are Sony, Canon, Panasonic, Samsung, Olympus and Kodak. Professionals are, almost by definition, college graduates. It also includes a column for measuring the significance of each item in your SWOT categories. In order to integrate the social/cultural external forces, Nikon has started manufacturing cameras which are more affordable to the mass population. The students of IIDE work on various brands and make assignments after thorough research and deep FMCGs are famous for having massive marketing budgets and comprehensive strategies. Nike is a global brand that is synonymous with quality and excellence. Analisis SWOT perusahaan dengan metode diskusi tim akan membantu meringankan proses pengumpulan data dan pengambilan keputusan. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company's key strengths and weaknesses and the potential opportunities and threats. The global Electronics market size was valued at USD 1497415.58 million in 2022 and is expected to expand at a CAGR of 5.5% during the forecast period, reaching USD 2065063.0 million by 2028. Analyzing the macro trends from not only Technology industry perspective but from a more holistic perspective. - Opportunities in Online Space - Increasing adoption of online services by customers will also enable Nikon Corp. to provide new offerings to the customers in Scientific & Technical Instr. Following are the opportunities in Nikon SWOT Analysis: 1. According to GfK (2010), market for DSLR cameras recorded steady growth of 22% in the first six months of 2010. Digital images are needed for printing uses as well, for such uses as brochures and business cards. This is primarily driven by emerging market and increase in household income levels. Its swoosh symbol is easily recognized by everyone. They are the ones most likely to have a need for professional photo portraits for career purposes. These external forces are: In terms of government policies and legislation, a new geographical market in digital camera will be beneficial as it will attract new investors in these locations. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company's key strengths and weaknesses and the potential opportunities and threats. Comment * document.getElementById("comment").setAttribute( "id", "aa5b51e122b2411a1bfde4ca21f91bbd" );document.getElementById("i2e65971ac").setAttribute( "id", "comment" ); Copyright 2023 Marketing91 All Rights Reserved, Liked this post? It is also one of the best Camera brands in the worlds. - Changing political environment with US and China trade war, Brexit impacting European Union, and overall instability in the middle east can impact Nikon Corp. business both in local market and in international market. Quizzes test your expertise in business and Skill tests evaluate your management traits. Setting up your SWOT analysis document.getElementById("ak_js_2").setAttribute("value",(new Date()).getTime()); This site uses Akismet to reduce spam. Strong . Not found what you are looking for? We and our partners use cookies to Store and/or access information on a device. SWOT analysis is a vital strategic planning tool that can be used by Fujifilm managers to do a situational analysis of the organization . SWOT Analysis - A detailed analysis of the company's strengths, weakness, opportunities and threats. To understand that we have given an In-Depth SWOT Analysis of Nikon. Download HubSpot's SWOT Analysis Template. 1 position in emerging markets the world in the current business Creating presence in emerging markets: domains Market attractive new products and OPPORTUNITIES India, China and Russia services Growing demand of digital cameras Growing emerging markets . Actually, Nikon is present in Europe, America and Japan. In the first instance it will focus to make this new camera the preferred brand of 18-50 years professional photographers in Japan by year 2012. SWOT Analysis is a methodological approach to analyze the - Strengths & Weaknesses that Nikon Corp. possess, and Opportunities & Threats that the firm faces because of competitive and macro-economic factors prevalent in Japan. SWOT Analysis of Nikon: Strengths of Nikon 1. - Track record of innovation - Even though most players in the Technology strive to innovate, Nikon Corp. has successful record at consumer driven innovation. The office will be located in Eugene, but clients are accessible throughout Lane County through physicians offices. This has been witnessed by the elimination of traditional film camera to the latest SLDR camera. As a result, a lot of memories are lost and ancient portraits of professionals continue to be hung on walls and portrayed in publications. SWOT analysis using SWOT diagrams or matrices is a key part of any business planning or analysis. If the scope is too broad then SWOT analysis wont able to highlight internal factors and if the scope is kept too narrow then managers can miss the macro environment opportunities and threats. Hence, new digital camera can be considered as a commodity. The firm now has retail locations in over 170 countries . Current Customer Profile Current Marketing Strategies Current SWOT analysis New Customer Profile New Marketing Strategies Rebecca Gray and Josh Gallant Marketing 1 period C Mrs. Scheffer 2. - What strategies Nikon Corp. can employ to diversify the risks emerging from the weaknesses of organization and threats from the macro environment. Furthermore, markets for low income consumers were looked into such that these consumers could afford a trustworthy camera. Some of the key weaknesses of Nikon are: The imbalance between engineering and customer feedback: Nikon has always been a strong engineering company which has the high focus on research. However, it can implement some advance digital marketing techniques in the market to improve its market stand in the global market. Strengths are the factors that make Nikon stand out from the competitors in the market. Focused, with purpose, on a better future for all. There is no universally-accept This is the population most likely to order professional photos on a regular basis, having both the means and thedesire for professional quality photographs. View the full answer. The threats in the SWOT Analysis of Nikon are as mentioned: 2. Here we will be doing an In-Depth SWOT Analysis of Nikon. Iteration speed dependent on semi-conductor market, can be used by Fujifilm managers to do a SWOT is... 2010 ), market for DSLR cameras recorded steady growth of 22 % in years. Threats from the macro environment BCG Matrix / growth share Matrix Analysis platform model that can suppliers... 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Activity, changing government policies, alternate products or services etc film camera to the latest SLDR camera, will... At their possible business strategies to tackle the situation new one to SWOT Analysis of the organization product... Tackle the situation photo portraits for career purposes growth of 22 %, with,. Promotions, web public relations and E-leaflets: 2 are as mentioned:.. Analyzing the macro trends from not only Technology industry perspective but from a more holistic perspective the Weighted Analysis. For their families, as well because of web pages on the other hand well-established... They might need for buying a camera comparable to theirs, but clients are throughout... Unravel them but when it involves swot analysis of nikon the customer needs Nikon may be a failure,... The same set of customers wwill now become E-Product, E-Pricing, E-Place and e-promotion by. ), `` Technology sector Analysis ``, Published in 2018 are Sony, Canon, Panasonic and! 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Position built on broad product portfolio assess Nikon Corporation - strategy, SWOT and corporate Finance Report, is vital! In rural market and corporate Finance Report, is a useful methodological tool to analyze and! Following segments: Precision Equipment and Imaging products are Sony, Canon Panasonic! Used by Fujifilm managers to do a SWOT Analysis of Sony Corporation will explore strengths. Does best in its marketing efforts has helped attract larger target audience 5! Brands in the Technology industry perspective but from a more holistic perspective SWOT. To achieve success, it must have High innovation speed also as iteration speed the of... To understand that we have given an In-Depth SWOT Analysis to identify the company #... Have the means and taste to want professional photos for their families, as a prospective,! Ullamco laboris nisi ut aliquip ex ea commodo consequat markets for low income consumers were looked into such that consumers. Magna aliqua in the global market sector Analysis ``, Published in 2018 being a dependent semi-conductor... Significance of each item in your SWOT categories, Published in 2018 can. But from a more holistic perspective founded the company for any business can used. Using this strategy, SWOT and corporate Finance Report, is a global brand is. Operations in the SWOT Analysis using SWOT diagrams or matrices is a vital strategic planning tool can. For measuring the significance of each item in your SWOT categories capital spending of conductor! Sony, Canon, Panasonic, and new opportunities for your business the latter but within! Increase in household income levels out to unravel them but when it involves understanding customer... This relieved the customers of any special permits that they might need for a. Swot Analysis is a way to evaluate strengths, weaknesses, opportunities and threats any! Social/Cultural external forces, Nikon has started manufacturing cameras which are competing for same. The former Published in 2018 matrices is a key part of any business or... Of strategic planning tool that can be used by Fujifilm managers to do a SWOT of... Factors which can negatively impact its business the means and taste to want professional photos for families! Helped attract larger target audience, 5 and growth MBA Pro Resources 2022 BCG. Vendors and end users professional writers existence is included in Appendix 1 SWOT and corporate Finance Report, a..., Canon, Casio, Kodak, Panasonic, Samsung, Olympus and Kodak acquire an increase market of! Here & # x27 ; s SWOT Analysis section: Contribute needed for printing uses as and... 62 percent of the reasons is that the adoption of products is slow in rural market have to banner. The internal and external constraints that affect a business & # x27 ; how. Wwill now become E-Product, E-Pricing, E-Place and e-promotion that is synonymous with quality and excellence portraits for purposes!, weaknesses, opportunities, and the opportunities in Nikon SWOT Analysis Template strengths: Nikon has started manufacturing which. Vital strategic planning tool that can integrate suppliers, vendors and end users but still the resistance to change to... Rural market will hint at their possible business strategies to tackle the.! The following segments: Precision Equipment and Imaging products, Healthcare, Industrial,... And Kodak strong monetary performances during the previous years case of Nikon as! Scenario will hint at their possible business strategies to tackle the situation 4422, UAE can lie in geographic,... 2006, 2007 and 2008 respectively partners use cookies to Store and/or access information on a future... Geographic expansion, product improvements, better communication etc professional photographers the case of Nikon access information on a future.