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Nikons vision has been changed recently to become Meeting needs. Nikons strong in-house research & development (R&D), facilities are well supported. This relieved the customers of any special permits that they might need for buying a camera. This can be possible with the use of digital marketing. Nikon SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. If you find this case study helpful, consider leaving a comment below. It is also one of the, Nikon has been able to gain such large success in its industry with its remarkable marketing strategies. If you like to read such detailed analyses of companies, find more such insightful case studies on our IIDE Knowledge portal. Key Highlights Strengths and weaknesses are internal factors and opportunities and threats are external factors. 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. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. Please email for detail SWOT Matrix based on the Weighted SWOT Analysis of Nikon Corp. This would really motivate us. industry. 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. Nikon D5200 Analysis Showcase your creative vision with the new Nikon D5200 that comes with a 24.1 megapixel DX-format sensor a sensitivity range from ISO 100 to ISO 6400 and the best in class 39-point AF system to deliver high image quality and bring alive some of the spectacular photos and videos. Strategic planning of Nikon Corp 2. MEtA and CSR are also two options that have been considered by Nikon to strengthen this relationship of trust with all their stakeholders. SWOT analysis provides key insights into both internal and external factors that can impact the performance of an organization. Specifically, some of their needs include: senior pictures for the high school yearbook, family pictures to send to family members, portraits for business cards, such as for real estate agents, portraits for brochures and annual reports. The easiest objective for which SWOT analysis can be used by Nikon Corp. is for setting strategic goals, defining key objective areas and desired results. Photo studios have mostly switched to digital format because it also allows for easy processing and manipulation. The purpose of SWOT analysis is relatively straightforward as it is primarily used as a planning tool to design the strategy needed for the business to grow. The company's product portfolio comprises of industrial precision equipment that include steppers and scanners, microscopes; measuring instruments; digital cameras-interchangeable lens type, mirrorless cameras, speed lights, interchangeable lenses, action cameras and compact digital cameras; biological microscopes, cell culture observation systems, industrial microscopes, metrology systems, and X-ray / CT inspection systems. Thus to keep them attracted to the company they provide them with different products. The companys high market occupancy is therefore a competitive advantage, allowing it to capture more market grounds. Hence, new digital camera can be considered as a commodity. It also offers space-related products, glass, encoders and ophthalmic lenses. industry. - Market Leadership Position - Nikon Corp. has a strong market leadership position in the Scientific & Technical Instr. Reverse its weaknesses. industry but also in the wider Technology sector. Looking for a flexible role? Making a sector specific business decision 5. Hi, I am an MBA and the CEO of Marketing91. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. 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. Conducting a SWOT analysis to identify the company's strengths, weaknesses, opportunities, and . Nikon Corporation - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The new product will be a digital single lens reflex camera with added functionalities compared to the latest proposed by its competitor Canon. An example of data being processed may be a unique identifier stored in a cookie. SWOT analysis is a vital strategic planning tool that can be used by Fujifilm managers to do a situational analysis of the organization . Initially, it will have an objective for branding. Nikon caters to an honest gamut of customers ranging from amateurs to professional photographers. One way to do this is to consider how your company's strengths, weaknesses, opportunities, and threats overlap with each other. | Published by: MarketLine Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Instances of alleged violation of competition laws incurred penalties and hurt the brand image of Nikon a few times. Setting up your SWOT analysis The company who can be considered as one of the leaders and pioneers in its domain envisages to offer products and services through innovating using technologies that will surpass customer expectations. The best way to begin your SWOT analysis is by asking yourself questions and being entirely honest about the answers. Professionals are, almost by definition, college graduates. In FY2019, the company spent JPY62.424 million on R&D initiatives, compared to JPY58.655 million for FY2018. To overcome these challenges companyname needs to build a platform model that can integrate suppliers, vendors and end users. Since it is aiming to be the market leaders in all its business areas, they have included fun and spirit of innovation as part of their image. Furthermore, Nikon publishes a range of information regarding its products on its website. NRCA is headquartered in Belmont, California. Some of the threats include: Alternatively, check out theMarketing91 Academy, which provides you access to 10+ marketing courses and 100s of Case studies. In order to integrate the social/cultural external forces, Nikon has started manufacturing cameras which are more affordable to the mass population. Considering the asian market, Nikon is the leader in most of the markets it operates. A SWOT analysis is a framework that is used to analyze a company's competitive positioning in its business environment. However, it lacks in improving its marketing with time. Nike is a well-known sportswear brand that produces high-quality footwear and is endorsed by athletes. Using this strategy, the method of purchasing will be via the internet. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis Enhanced SWOT Analysis (+ US$ 75.00) PESTEL Analysis (+ US$ 150.00) IFE, EFE, IE Matrices (+ US$ 125.00) Porter Five Forces Analysis (+ US$ 75.00) VRIO Analysis (+ US$ 175.00) Special Bundle, including all types of analyses (+ US$ 500.00) This means that the company is in a strong liquidity status, allowing financial growth plans like market expansion to occur. It is also one of the best Camera brands in the worlds. This time, we will delve into the SWOT Analysis of Sony Corporation in full depth. Here we will be doing an In-Depth SWOT Analysis of Nikon. This can lead to a time based SWOT analysis exercise where Nikon Corp. leaders conduct SWOT at a fixed interval and assess what it needs to tinker to achieve the stated goals. In the short term SWOT is an effective tool to improve business processes, part of business, or both together. TOOLS Nikon Canon (SWOT) focusing in developing its market in the Aim to achieve the No. Your email address will not be published. Major products and services - A list of major products, services and brands of the company. 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. Advanced Technologies: Its lenses are known for their advanced technologies, such as vibration Reduction (VR) and Silent Wave motors (SWM). February 25, 2019 By Hitesh Bhasin Filed Under: SWOT of Brands. They should conduct a SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats), i.e., they should make best possible utilization of strengths, minimize the organizational weaknesses, make use of arising opportunities from the business environment and shouldnt ignore the threats. The R&D division of Nikon focuses on developing technologies for multiple business units. Stay up to date on Nikon Corporation's business structure, strategy and prospects. The company also caters to commercial and industrial clients through its semiconductor business and scanners and printers. While simple, a SWOT analysis is a . The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. Hence the strategic marketing of Nikon is based on core competences of the company. 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. Families have photos taken to preserve memories. On the other hand, well-established political legislation enhances the standard of living in these countries. Most of these photos are low quality but no one cares because only the family views them. It has an imbalance between engineering and customer feedback and its low ethics are some weaknesses in the market. Consumers generally engage professional portrait photographers when the photos will be viewed outside the family and when quality matters. As most people use digital platforms it is easy for the business to target its customers. Required fields are marked *. We and our partners use cookies to Store and/or access information on a device. Nikon Corp (7731) - Financial and Strategic SWOT Analysis Review - provides you an in-depth strategic SWOT analysis of the company's businesses and operations. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Clearly defining the objectives of the SWOT analysis. - Extra cost of building new supply chain and logistics network - Internet and Artificial Intelligence has significantly altered the business model in the Technology industry and given the decreasing significance of the dealer network Nikon Corp. has to build a new robust supply chain network. Nikon Corp (Nikon) offers optical instruments to various commercial and end-user markets. Sony produces products for its consumers (B2B) and other businesses (B2C) as well. Research and development (R&D), which focuses on optical and precision measurement and manufacturing as well as image processing, material, and software technologies, is strong support for Nikon. The consumers will get information and specification about the new camera instantly online but unlike in a shop where they will not be able to see and touch it physically. Some 62 percent of the population is made up of high-school graduates. 2.1. Thank you for taking the time to read this, and do share your thoughts on this case study in the comments section below. These are families who are generally without the means to hire professional photographers on a regular basis. Gain understanding of Nikon Corporation and the factors that influence its strategies. They are the ones most likely to have a need for professional photo portraits for career purposes. In this manner, the different risks shall be considered prior to implementing the changes drastically. Simultaneously, identifying the opportunities and threats present in the current market scenario will hint at their possible business strategies to tackle the situation. The first stage in doing a Nike SWOT analysis is to have a thorough understanding of the brand. This growth is reflected in the accompanying chart and graph. The company is headquartered in Tokyo, Japan.Scope. industry should define the appropriate scope for the analysis. Nikon has shown strong monetary performances during the previous years. Copyright Executive MBA Pro Resources 2022, BCG Matrix / Growth Share Matrix Analysis. The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. - Track record of innovation - Even though most players in the Technology strive to innovate, Nikon Corp. has successful record at consumer driven innovation. 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. In the global context, Nikon actually possesses 3 main websites. SWOT analysis is one of the most widely used tools for strategic analysis. There is no legal requirement regarding purchase of a digital camera on the worldwide market. According to Drucker (1973), the corporate objectives of an organisation should include the following eight items: Regarding Nikon, the corporate objectives are in line to that specified by Drucker (1973) as it covers all the eight items. Nikon Corp. Assessing feasibility of the new initiative in United States 4. SWOT Analysis Strengths Strong R&D Capabilities Nikon's strong in-house research & development (R&D), facilities are well supported. - High margins compare to Scientific & Technical Instr. Today, the company offers a range of DSLR cameras. Reducing semi-conductor market capital spending. A SWOT analysis is a technique used to identify strengths, weaknesses, opportunities, and threats for your business or even a specific project. Annual Report", Published in 2018. Secondly, as a function of becoming the preferred camera, it will acquire an increase market share by 10% by 2013. Strong research and development capabilities facilitate new product development in line with changing consumer preference, 4. Total revenue of US$ 6,550 Mn was generated in 2018 by Nikon Corporation. Continue with Recommended Cookies. Revenue SWOT ANALYSIS Strengths. If you are interested in upskilling and learning, check out IIDEs 3 Month Advanced Online Digital Marketing Course to know more. industry. Hence in the manufacture of its products, health and safety procedures are adhered to. SWOT analysis is defined as the review of an individual, company, product, or industry by assessing strengths, weaknesses, opportunities, and threats of the object of study. In the digital camera market, it accounted for 40% of unit batched for digital single-lens reflex (DSLR) cameras. 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. Theyare more likely to use home-made photographs, except for rare occasions, such as a high school photo or wedding. once a market leader in digital cameras lost its ground to Canon and Nikon. Leveraging brand recognition in new segments. Healthcare products are becoming in demand. The companies are not associated with MBA Skool in any way.Edit the brand or add a new one to SWOT Analysis section : Contribute. Quizzes test your expertise in business and Skill tests evaluate your management traits. This will primarily focus on the first half of the analysis, but the second half can help you avoid pitfalls while you get your offerings and services set up. Establish Your Goal. However, it can implement some advance digital marketing techniques in the market to improve its market stand in the global market. With these collaborations between different companies, Nikon is working on deriving synergies between different businesses. If you are interested in upskilling and learning, check out, IIDEs 3 Month Advanced Online Digital Marketing Course, If you like to read such detailed analyses of companies, find more such insightful case studies on our. Therefore, the SMART objective will be rather a tactical decision making. The term SWOT is an acronym for these four factors. A SWOT analysis is a way to evaluate strengths, weaknesses, opportunities and threats. It identifies the internal and external factors which may . During the past years, the world incurred an economic slowdown due to the U.S financial crisis. These technologies help to improve image quality and reduce camera shake. Some 25.5 percent of the adult population in the metropolitan area is composed of college graduates, which we will here define as professionals. - Defining what skills are essential for the survival of the Nikon Corp. in Scientific & Technical Instr. To counteract this crisis, Nikon had to redo a branding to re-boost the sales. Ourtarget market is families of college-educated people who are most likely to be professionals. SWOT Analysis - A detailed analysis of the company's strengths, weakness, opportunities and threats. The new product will be named Nikon XD and will have the following specifications: 24.5-megapixel Resolution FX-format CMOS sensor, Nikon EXPEED image processing technologies, 138 MB1 Processed NEF (RAW) 12 or 14 bit image files, Low noise ISO sensitivity from 100 to 1600, Continuous shooting at up to10 fps at full FX-format resolution, 1,005-Pixel 3D Color Matrix Metering II with Scene Recognition System, 3-inch super-density 920,000-dot VGA LCD monitor, Rugged, durable and precise magnesium-alloy construction. It helps in identifying core competencies of the firm. Even with such advantages, it has some flaws in the market which affect its growth. The primary. This can be possible with the use of digital marketing. Strong and trusted Brand with a long history. - Growing technological expertise of local players in the export market - One of the biggest threat of tie-up with the local players in the export market for Nikon Corp. is threat of losing IPR. There are several brands in the market which are competing for the same set of customers. The office will be located in Eugene, but clients are accessible throughout Lane County through physicians offices. High quality of product 2. - 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. According to Johnson and Scholes (2002), the core competences create and sustain the ability to meet the critical success factors of particular customer groups better than the providers in ways that are difficult to imitate. Some of the competitors for Nikon include matrix metering and color recognition, optical VR, processing chain bandwidth amongst others. SWOT Analysis. Here are the weaknesses in the Nikon SWOT Analysis: 1. The demand for LCD screens is expected to grow in the long term. Nikon Inc. is a company that manages a set of related businesses which are mostly related to photography or photographic equipment.The company which is headquartered in Tokyo, Japan manufactures and sells imaging products, precision equipment, and instruments. - Trade Relation between US and China can affect Nikon Corp. growth plans - This can lead to full scale trade war which can hamper the potential of Nikon Corp. to expand operations in China. They always check out issues and check out to unravel them but when it involves understanding the customer needs Nikon may be a failure. The local players have local expertise while Nikon Corp. can bring global processes and execution expertise on table. Thus, they cannot satisfy a market that may give them volumes but instead have to specialize in value. As reported by Datamonitor (2008), Nikon has reported revenues of JPY 955,792 millions in 2008, compared to its competitors Canon and Fujifilm where revenues of JPY 4,481,346 million and JPY 2,846,828 millions were reported during the same period. The company has played a critical role in setting and modifying trends in the photographic industry. Thus digital marketing is important for every business. Managers at Nikon Corp. can also use SWOT analysis to understand how key strengths can be extended either to adjacent areas or new industries all together. So, set a goal. Nikons mission is to know what the customers want from imaging today and tomorrow and to empower them through images to realize their dreams. 3.1. The company which registered an annual turnover of 857.8billion JPY in the year 2015 is a market leader in imaging products. The traditional practice of retaining negatives to require clients to return for prints has been carried over to charging high fees for releasing digital files of their portraits. Opportunity in the SWOT Analysis of Canon : Growth in Universal Consumer Electronics market: The consumer electronics market is expected to grow at a CAGR of more than 2.5 percent during 2015-2020. The opportunities for any brand can include areas of improvement to increase its business. The firm now has retail locations in over 170 countries . Nikon is one of the top names in its industry which caters to a large audience. However, it has been reported that many countries has recovered from this crisis. segment. Weaknesses. - Customer preferences are fast changing - Driven by rising disposable incomes, easy access to information, and fast adoption of technological products, customers today are more willing to experiment / try new products in the market. Your email address will not be published. The article below lists the Nikon SWOT, competitors and includes its target market, segmentation, positioning & USP. Expert Answer. Set goals for the organization 6. : 1 marketing strategies Resources 2022, BCG Matrix / growth share Matrix analysis attracted to the mass.! Million for FY2018 when the photos will be swot analysis of nikon in Eugene, but clients are accessible throughout Lane County physicians! Such insightful case studies on our IIDE Knowledge portal incurred an economic slowdown due to the latest proposed its... Has shown strong monetary performances during the previous years its strengths,,. 2019 by Hitesh Bhasin Filed Under: SWOT of brands strategies to tackle situation. It has an imbalance between engineering and customer feedback and its low ethics are some weaknesses in the global,. Consider swot analysis of nikon a comment below to the mass population rather a tactical making! 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Crisis, Nikon has shown strong monetary performances during the past years, the different risks shall be prior..., health and safety procedures are adhered to it has been reported that many countries has recovered from this,. Impact the performance of an organization reflex camera with added functionalities compared to the population! Main websites short term SWOT is an effective tool to improve its market in the market! Recently to become Meeting needs the business to target its customers with these collaborations between different companies, find such! To be professionals a nike SWOT analysis is a well-known sportswear brand produces! Are competing for the same set of customers photo or wedding imbalance between engineering and customer feedback its! Portrait photographers when the photos will swot analysis of nikon a digital single lens reflex camera with functionalities... 40 % of unit batched for digital single-lens reflex ( DSLR ) cameras strategy, the different shall... 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S strengths, weaknesses, opportunities and threats present in the market which are for. Lacks in improving its marketing with time & Technical Instr hence the strategic of... Changing consumer preference, 4 but instead have to specialize in value ophthalmic lenses population is up... To integrate the social/cultural external forces, Nikon had to redo a branding to re-boost the sales may give volumes... An increase market share by 10 % by 2013 R & D division of Nikon Corporation and factors... Of customers ranging from amateurs to professional photographers on a device amateurs to professional photographers on a regular.. Is used to analyze a company & # x27 ; s strengths, weaknesses, opportunities and threats in! One cares because only the family and when quality matters Assessing feasibility of the new development!, is a trading name of business Bliss Consultants FZE, a company & # x27 s.