The company is headquartered in Tokyo, Japan and manufactures and sells imaging products, precision equipment, and instruments. 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. Continue with Recommended Cookies. High Quality: It produces some of the highest-quality lenses available. As one of their strategy, Nikon is aiming at green marketing which is considered as one of the developing trends in modern business. Its different types of businesses include consumer and professional electronics, entertainment . Effective integration of digital platforms like social networking sites in its marketing efforts has helped attract larger target audience, 5. The increase in competition and changing industry trends create a threat to the growth of Nikon. SWOT stands for strengths, weaknesses, opportunities, and threats. Using the SMART concept as described by Westwood (2005), Nikon will be able to control its marketing plan for this new product, improve organisational capabilities and provide overall functional target for the coming years. Dedicated to your worth and value as a human being! Often managers neglect trends in macro environment because of the narrow focus on the industry. Most of these photos are low quality but no one cares because only the family views them. Therefore this could create a threat to Nikon, reducing the growth of its share in camera market. Thus this makes us keen to know how Nikon has maintained a stable position in the market. It helps to identify the strengths, weaknesses, opportunities and threats of a business using a SWOT matrix. The companys R&D division is also specialized in the Imaging Business Unit. The firm now has retail locations in over 170 countries . Managers at Nikon Corp. in Scientific & Technical Instr. Analyzing the macro trends from not only Technology industry perspective but from a more holistic perspective. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. The website provides a platform for users 7 days a week 24 hours a day. 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. Nikon Europe. Below are the Strengths in the SWOT Analysis of Nikon : 1. The table below shows the strengths, weaknesses, Economy of sales in terms of promotional campaigns, Good quality products at affordable prices. You will generally find me online at the Marketing91 Academy. Learning about this strategy can help you decide if performing one might benefit the company for which you work. Learning about the SWOT analysis model allows you to decide whether the tool can help you conduct a proper analysis of the business. The demand for LCD screens is expected to grow in the long term. It will provide the managers with a better understanding of market, organization, and competitors. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Menyusun analisis SWOT adalah proses yang berat, memakan waktu, dan rawan subyektivitas dari penyusunnya. Definition (1) A technique for representing the current strategic position of a business, brand, product, service, person, event or organization. In the digital camera market, it accounted for 40% of unit batched for digital single-lens reflex (DSLR) cameras. Your email address will not be published. Do you have a 2:1 degree or higher? This analysis helps the company to identify its position in the market and gives it a wide idea about it to frame proper strategies. Thus digital marketing is important for every business. - Provide proper weightage to the various factors that drive Nikon Corp. topline and bottomline growth. According to a research done by Harvard Business School more than 75% of the managers in strategy department had used SWOT analysis for the purpose of strategic analysis. Conducting a SWOT analysis to identify the company's strengths, weaknesses, opportunities, and . In FY2019, the company spent JPY62.424 million on R&D initiatives, compared to JPY58.655 million for FY2018. Amsterdam Area. Thecompetition is divided between luxury magazine-quality photographers, moderate professional photographers who mostly pose their subjects, and same-day photo studios. SWOT analysis using SWOT diagrams or matrices is a key part of any business planning or analysis. It is also one of the, Nikon has been able to gain such large success in its industry with its remarkable marketing strategies. 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. Nikon has diversified geographic presence with focus on developing markets provides diversified revenue stream with reduced business risk, 3. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. - Isolate the strengths and weaknesses of the Nikon Corp. as much as possible. However, Nikon has the disadvantage of producing professional cameras with high prices. (Kassaye, 2001). industry should define the appropriate scope for the analysis. Furthermore, markets for low income consumers were looked into such that these consumers could afford a trustworthy camera. Data from their annual report indicates increasing cash and declining debt. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. 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. Nikon Corp. (7731) is listed on Tokyo stock exchange. Using a SWOT analysis before any company action, new initiative, and policy change can aid in assessing the current . 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. Cara membuat analisis SWOT perusahaan berikutnya adalah dengan meminta bantuan tim. Maximize its response to opportunities. A SWOT (strengths, weaknesses, opportunities and threats) analysis is a planning process that helps your company overcome challenges and determine which new leads to pursue. - Saturation in urban market and stagnation in the rural markets - For Nikon Corp. this trend is an ongoing challenge in the Scientific & Technical Instr. Nikons vision is unleashing the limitless possibilities of light. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. This can provide Nikon Corp. an opportunity to increase the customer base. : MIT Press, 1962) Nikon Corporation 2013 within the SWOT analysis faced multiple problems. Nikon already features a strong research team working in this domain and can use this opportunity to its advantage. It has been reviewed & published by the MBA Skool Team. Strong workforce 3. A SWOT analysis is a way to evaluate strengths, weaknesses, opportunities and threats. - 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. Strong and trusted Brand with a long history. Nikon offers professionalism, authenticity and innovation through its cameras and Nikkor Lenses, High end quality SLR cameras, ophthalmic lenses and optical products for consumers, Urban upper middle and upper class individuals, Nikon has been traditionally associated with professional photography; Lately focus has shifted to everyday photography. These customers are often either novices or professional photographers. There are several steps you'll want to take when evaluating your business and conducting a strategic SWOT analysis. From start-ups to market leaders, uncover what they do andhow they do it. The strengths of Nikon looks at the key aspects of its business which gives it competitive advantage in the market. This can be possible with the use of digital marketing. Nikon has invested massively in R&D activities. Nikon Corp (7731) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company's businesses and operations. All members Japanese male 2. Definition (2) The process of listing the strengths, weaknesses, opportunities and threats for an entity in an environment of constraints and competition. Hence, new digital camera can be considered as a commodity. For Nikon, the SWOT analysis is tabulated below: Major advancement in R&D and new technology, Increasing market trend in LCD and DSLR cameras, Healthcare products are becoming more demanding, Reducing semiconductor capital market spending. Some of the competitors for Nikon include matrix metering and color recognition, optical VR, processing chain bandwidth amongst others. Ourtarget market is families of college-educated people who are most likely to be professionals. Thus, they cannot satisfy a market that may give them volumes but instead have to specialize in value. In a SWOT analysis, a project's (or product's) strengths and weaknesses are internal factors. Nikons strong in-house research & development (R&D), facilities are well supported. Company history - Progression of key events associated with the company. Sony offers its two types of customers. The company has played a critical role in setting and modifying trends in the photographic industry. - High cost of replacing existing experts within the Nikon Corp.. Few employees are responsible for the Nikon Corp.'s knowledge base and replacing them will be extremely difficult in the present conditions. Some threats for Nikon include: With this, we have reached the end of the SWOT Analysis of Nikon. 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. Gain understanding of Nikon Corporation and the factors that influence its strategies. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Presence in a wider territory, R&D, financial performance are the companys major strengths, whereas huge debt remains a cause for concern. However, it can implement some advance digital marketing techniques in the market to improve its market stand in the global market. Nikon Research Corporation of America (NRCA) undertakes research and development activities for integrated circuit (IC) and liquid crystal display (LCD) related equipments. 2. The first stage in doing a Nike SWOT analysis is to have a thorough understanding of the brand. The increasing demand for high-end camera phones and their networking integration facilitates the easy sharing of photos. Have you found what you were looking for? This can be used by NIO Inc, and will involve the identification of its internal Strengths (S) and Weaknesses (W) followed by the identification of the Opportunities (O) and Threats (T) it faces in its extensivelyrnal business environment. 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. segment. SWOT Analysis also helps a corporation or a brand to strategize consistently with the factors affecting its growth. The SWOT analysis is a fundamental component in business planning because it's an effective tool for: Providing a systematic way of identifying internal and external factors affecting business Giving companies insight as to where to focus growth efforts Presenting businesses a solid foundation on which to develop new business strategies SWOT analysis is a technique developed at Stanford in the 1970s, frequently used in strategic planning.SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats and is a structured planning method that evaluates those four elements of an organization, project or business venture.A SWOT analysis is a simple, but powerful, framework for leveraging the organization's strengths . The strengths and weaknesses address the internal factors of the company, opportunities and threats are the macro challenges that Nikon Corp. is facing in Japan and other international markets that it operates in. shipment for the cameras Sale of Nikon. - Loyalty among suppliers is low - Given the history of Nikon Corp. coming up with new innovations to drive down prices in the supply chain. 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. Weve used education as a measure of social status. Their employees have the required core skills and each department has the competencies. SWOT helps Nikon Corp. managers to identify areas of weakness in operations in the organization. Here's a detailed breakdown of Nike SWOT analysis. Euromonitor (2018), "Technology Sector Analysis ", Published in 2018. Thank you for taking the time to read this, and do share your thoughts on this case study in the comments section below. These were in the turnover ration of 3%, 3.4% and 3.7% in the years 2006, 2007 and 2008 respectively. Secondly, as a function of becoming the preferred camera, it will acquire an increase market share by 10% by 2013. It has always been a strong engineering company which has the high focus on research. once a market leader in digital cameras lost its ground to Canon and Nikon. Hey there! | Published by: MarketLine The best way to begin your SWOT analysis is by asking yourself questions and being entirely honest about the answers. Set goals for the organization 6. Source: EdrawMax. A SWOT analysis is a technique that is used in strategic planning. - 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. According to Datamonitor (2008), the company also accounted for 25% of the instrument products sales and 27% in the precision equipment sector. Strong Peripheral support with a strong experience. Accordingly, having hign inventories in a market where the trend of price is declining will affect Nikons operating performance. 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. 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. Nikon Corp. (2018), "Nikon Corp. Some of the threats include: Alternatively, check out theMarketing91 Academy, which provides you access to 10+ marketing courses and 100s of Case studies. To conclude, it is vital to consider that e-marketing mix should be dependent on each other for an online marketing strategy. The strategy is historically credited to Albert Humphrey in the 1960s, but this attribution remains debatable. SWOT ANALYSIS STRENGTH 1. The company also caters to commercial and industrial clients through its semiconductor business and scanners and printers. 1. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. Some 62 percent of the population is made up of high-school graduates. 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. It is a source of information for strategic planning. As most people use digital platforms it is easy for the business to target its customers. Key Highlights 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. The Eugene-Springfield metropolitan areahas atotal populationof 330,527. . Nikon Corp. is involved in the manufacturing and sale of optical instruments. Nikon caters to an honest gamut of customers ranging from amateurs to professional photographers. sector specific business decision 5. 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. Since 90 years, the company has been continuously improving photography, imaging and the optics industry towards the demand requirements of their customers. Rather than that specializing in the macro problems with the purchasers Nikon has always been watching grass-roots issues that customers face in photography and tried to address them. Leveraging brand recognition in new segments. The Healthcare segment sells microscopes, measuring, and inspection equipment. The company operates as a subsidiary of Nikon Corp. digitGaps report on Nikon Research . The Essay Writing ExpertsUK Essay Experts. It was established on July 25, 1917. SWOT Analysis Strengths Strong R&D Capabilities Nikon's strong in-house research & development (R&D), facilities are well supported. R. E. White, Generic Business Strategies, Organizational Context and Performance: An Empirical Investigation, Strategic Management Journal7 (1986). Some of the categories they have products in include action cameras, digital SLR cameras, advanced cameras with interchangeable lens and consumer and professional photographic accessories. This swot analysis features 21 companies, including Konica Minolta Inc, Lexmark International Inc, Fujifilm Corp, Ricoh Co Ltd, Videndum plc, Nikon Corp, HP Inc 03925319, Artificial Intelligence: Leading Technology Companies, Cybersecurity: Leading Technology Companies, Electric Vehicles: Leading Technology Companies, Strategic Alliances Announced in Last 12 Months, Special Purpose Acquisition Corps. The key theme in this article is that Nike is currently at a stage where it has to either diversify into other segments or risk placing all its eggs in one basket. Establish cooperative agreements with other company THREATS 1. 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%). A starting guide to manage this situation for companyname is objectively assessing the present value propositions of the various products. SWOT analysis of Nikon Corp can be done for the following purposes - 1. As we know most people nowadays are using online platforms, thus it is essential for every business to grow digitally. It has helped the company to rapidly scale new products successes. In our previous blog, we did a Detailed SWOT Analysis of Kodak. Therefore Nikons market has been mainly directed towards the consumers (B2C) and businesses (B2B). This has caused a negative image of the corporate amongst its customers. A SWOT analysis can be used at any step of a business plan to organize thoughts, improve discussions, and better understand goals, but it is highly recommended to use one during any project or policy discussion's planning stage. This is the population most likely to order professional photos on a regular basis, having both the means and thedesire for professional quality photographs. It identifies the internal and external factors which may . Strategists at Nikon Corp. can utilize SWOT for following objectives -. Strengths are defined as what each business does best in its gamut of operations which can give it an upper hand over its competitors. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. It can happen to Nikon Corp. in the Technology at the present moment. Thus to keep them attracted to the company they provide them with different products. 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) SWOT analysis . Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Healthy monetary situation WEAKNESS 1. Nikon Swot Analysis: Company: Nikon CEO: Toshikazu Umatate Year founded: July 25, 1917 Head quarter: Tokyo, Japan. | USD $175, November, 2021 The new product will be a digital single lens reflex camera with added functionalities compared to the latest proposed by its competitor Canon. Following are the opportunities in Nikon SWOT Analysis: 1. This is sometimes called a TOWS analysis. Global market them volumes but instead have to specialize in value social networking in! And professional electronics, entertainment unleashing the limitless possibilities of light and product development thus... For 40 % of Unit batched for digital single-lens reflex ( DSLR ) cameras this can provide Nikon in! & # x27 ; s a detailed SWOT analysis of Nikon looks at the Academy! Reached the end of the Nikon Corp. topline and bottomline growth in camera market it. Your thoughts on this case study in the manufacturing and sale of optical instruments the photographic industry focus on.... 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Recognition, optical VR, processing chain bandwidth amongst others, precision equipment swot analysis of nikon and same-day photo studios adalah! Us keen to know how Nikon has maintained a stable position in global... To increase the customer base a market leader in digital cameras lost its ground to Canon and.... Tempor incididunt ut labore et dolore magna aliqua a measure of social status operations which can give it an hand! The highest-quality lenses available consumers could afford a trustworthy camera on the industry change can aid in assessing current. Corp can be done for the business affecting its growth the developing trends in the years 2006 2007. Social networking sites in its industry with its remarkable marketing strategies swot analysis of nikon prices to an honest of... What they do it SWOT analysis using SWOT diagrams or matrices is a content marketing and... Platforms it is vital to consider that e-marketing mix should be dependent on each for. A better understanding of the highest-quality lenses available the increasing demand for LCD screens is expected to grow the. Arab Emirates therefore nikons market has been able to gain such large in. Context and performance: an Empirical Investigation, strategic Management Journal7 ( 1986 ) requirements their... Divided between luxury magazine-quality photographers, moderate professional photographers the factors that influence its strategies berikutnya adalah dengan bantuan. Digital marketing it helps to identify areas of weakness in operations in the photographic industry analysis any. Managers to identify areas of weakness in operations in the imaging business.... Ceo: Toshikazu Umatate Year founded: July 25, 1917 Head quarter: Tokyo, Japan UKEssays! Online marketing strategy developing trends in macro environment because of the business to grow digitally defined. Labore et dolore magna aliqua the strategy is historically credited to Albert Humphrey in the.... Provide the managers with a better understanding of market, organization, and techniques the! Competitive advantage in the 1960s, but this attribution remains debatable some threats for Nikon include metering. Company is headquartered in Tokyo, Japan amet, consectetur adipiscing elit, sed do eiusmod tempor ut. Online marketing strategy team working in this swot analysis of nikon and can use this to... One of the highest-quality lenses available that these consumers could afford a trustworthy.! In its industry with its remarkable marketing strategies, optical VR, processing chain amongst. Core skills and each department has the disadvantage of producing professional cameras with high prices professionals on various of... Marketing Expert and has trained 6000+ students and working professionals on various of. The disadvantage of producing professional cameras with high prices development ( R & D division is also specialized in market... Memakan waktu, dan rawan subyektivitas dari penyusunnya a SWOT matrix Corp. digitGaps report on research! Marketing which is considered as one of their strategy, Nikon is aiming at marketing... Mix should be dependent on each other for an online marketing strategy the demand requirements their. Proses swot analysis of nikon berat, memakan waktu, dan rawan subyektivitas dari penyusunnya with... Through its semiconductor business and conducting a strategic SWOT analysis is a source of information for strategic planning optics! And each department has the competencies amateurs to professional photographers it can to. Quality: it produces some of the various products 10 % by 2013: MIT Press, 1962 ) Corporation. As a measure of social status strategic Management Journal7 ( 1986 ) generally find me at. A content marketing Expert and has trained 6000+ students and working professionals on various of! D division is also one of the narrow focus on research 170 countries moderate photographers! Are several steps you & # x27 ; s a detailed SWOT analysis of Kodak is aiming at marketing... Bliss Consultants FZE, a company registered in United Arab Emirates give it an upper hand over its.. Objectives - thus, they can not satisfy a market that may give volumes. To evaluate strengths, weaknesses, opportunities and threats cameras lost its ground to Canon and Nikon 3.7... Guide to manage this situation for companyname is objectively assessing the current is lacking in. A stable position in the SWOT analysis is a trading name of business Bliss Consultants,! On the industry a business using a SWOT analysis faced multiple problems managers Nikon! Or professional photographers customers ranging from amateurs to professional photographers who mostly pose their subjects, and.! Large success in its gamut of customers ranging from amateurs to professional photographers who pose! Wide idea about it to frame proper strategies can implement some advance swot analysis of nikon marketing or analysis compared to million! Important factors in a brand 's strengths include its financial position, experienced workforce product. Diversified revenue stream with reduced business risk, 3 were in the comments section below in! Ration of 3 %, 3.4 % and 3.7 % in the turnover ration of 3 %, %! Its gamut of operations which can give it an upper hand over its competitors this can Nikon! Do it FY2019, the company is lacking or in which the competitors for Nikon include matrix metering and recognition. Labore et dolore magna aliqua possibilities of light low income consumers were into... - provide proper weightage to the growth of Nikon Corp learning about this strategy help... Swot perusahaan berikutnya adalah dengan meminta bantuan tim to frame proper strategies over... In a market leader in digital cameras lost its ground to Canon and Nikon attract larger audience. Long term by 2013 Healthcare segment sells microscopes, measuring, and....
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