The digital SLR camera was initiated by Nikon in 1999. A SWOT analysis is a marketing tool to help businesses identify their strengths, weaknesses, opportunities and threats within an industry. Healthcare products are becoming in demand. In this application, Nikon manufactures microscopes and other products for use in the biomedical field. Furthermore, markets for low income consumers were looked into such that these consumers could afford a trustworthy camera. Manage Settings The companys R&D division is also specialized in the Imaging Business Unit. It can happen to Nikon Corp. in the Technology at the present moment. The company which registered an annual turnover of 857.8billion JPY in the year 2015 is a market leader in imaging products. However, foreign exchange risks, intense competition and regulations from RoHS and WEEE could affect its business operations. But people generally dont look forward to seeing a photographer. 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. Assessing feasibility of the new initiative in United States 4. Download HubSpot's SWOT Analysis Template. For Nikon, the SWOT analysis is tabulated below: Table 2: SWOT Analysis Strength Opportunities High market occupancy Major advancement in R&D and new technology Healthy monetary situation High brand name Increasing market trend in LCD and DSLR cameras Healthcare products are becoming more demanding Weaknesses Threats High stock levels of products The strengths of Nikon looks at the key aspects of its business which gives it competitive advantage in the market. 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. Benefits/Features Analysis. In the digital camera market, it accounted for 40% of unit batched for digital single-lens reflex (DSLR) cameras. - Declining per unit revenue for Nikon Corp. - competitiveness in the Scientific & Technical Instr. You will generally find me online at the Marketing91 Academy. Using a SWOT analysis before any company action, new initiative, and policy change can aid in assessing the current . Nike SWOT analysis will reveal their strengths and weaknesses that are hindering their growth. 2. SWOT Analysis is a proven management framework which enables a brand like Nikon to benchmark its business & performance as compared to the competitors, and make strategic improvements. SWOT analysis using SWOT diagrams or matrices is a key part of any business planning or analysis. From the above, Nikons core competencies drives it towards a more efficient company and offers advantages to the market places it occupies. From start-ups to market leaders, uncover what they do andhow they do it. 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. Most photos are taken byconsumers with their own cameras, which are increasingly digital and are even part of their cell phones. The SWOT analysis for Canon is presented below in a matrix followed by a detailed analysis report: Strengths. Nikon caters more to the professional group than the mass market, and thus they need to be more successful with cameras that professionals want primarily because of their attention to detail. Nikon has shown strong monetary performances during the previous years. Thank you for taking the time to read this, and do share your thoughts on this case study in the comments section below. - First mover advantage in the increasingly crowded market place. SWOT analysis of Nikon Corp. can be done for the following purposes - 1. This article analyses the company using the SWOT Methodology. Learning about this strategy can help you decide if performing one might benefit the company for which you work. 2022 - heden1 jaar 1 maand. - 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. 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. Also Known As. Advanced Technologies: Its lenses are known for their advanced technologies, such as vibration Reduction (VR) and Silent Wave motors (SWM). Using this strategy, the method of purchasing will be via the internet. Hence, new digital camera can be considered as a commodity. The increase in competition and changing industry trends create a threat to the growth of Nikon. Maximize its response to opportunities. Gain understanding of Nikon Corporation and the factors that influence its strategies. industry. Source: EdrawMax. suppliers in the world. Within the area where Nikon operated for a corporation to achieve success, it must have high innovation speed also as iteration speed. NRCA is headquartered in Belmont, California. In SWOT Analysis of Nikon, the strengths and weaknesses are the internal factors whereas opportunities and threats are the 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. It has always been a strong engineering company which has the high focus on research. In the case of Nikon XD on the international market, it may be wise to investigate the geographical segments requiring this camera prior to launching it in a specific region. 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. SWOT is also called a situational analysis in business planning because it captures the internal and external factors that make up the business environment of a company . It can lead to higher salaries to maintain the talent within the firm. 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. But SWOT analysis gives you the power to not only deep into what makes you unique as a photographer, but also how to position yourself in such a loud market. There is an increase in competition in the market as the competitors are bringing new technologies in the market and the demand for Nikons products reduces. 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. 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. Additionally, in terms of social awareness, Nikon is already working on CSR to promote its brand. Track strategic initiatives of the company and latest corporate news and actions. Sony offers its two types of customers. The website provides a platform for users 7 days a week 24 hours a day. So, set a goal. This makes them appear to be trying to preserve their youth instead of embracing their maturity and experience, and doesnt show them in the best light. They also produce lenses, sunglasses, and spectacles. It helps in identifying core competencies of the firm. 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. An example of data being processed may be a unique identifier stored in a cookie. It has its core competency in imaging technology and a large customer base in the market. All these are already being provided by Nikon on their websites. Nikon is one of the best semiconductor equipment suppliers in the world. This time, we will delve into the SWOT Analysis of Sony Corporation in full depth. Often managers neglect trends in macro environment because of the narrow focus on the industry. Medical imaging is a growing opportunity for businesses in the imaging industry and therell be a surge in demands for equipment in medical imaging for support, diagnosis, research, and training. 1. Actually, Nikon is present in Europe, America and Japan. Here we will be doing an In-Depth SWOT Analysis of Nikon. High Quality: It produces some of the highest-quality lenses available. 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. Some of the threats include: Alternatively, check out theMarketing91 Academy, which provides you access to 10+ marketing courses and 100s of Case studies. sector specific business decision 5. - 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. It has an imbalance between engineering and customer feedback and its low ethics are some weaknesses in the market. To understand that we have given an In-Depth SWOT Analysis of Nikon. SWOT stands for strengths, weaknesses, opportunities, and threats. Improving business portfolio management of Nikon Corp. 3. Strategic planning of Nikon Corp. 2. Nikon D800E Digital SLR Camera is one of the most recent to be released and comes with the following feature: "new Nikon FX-format CMOS image sensor and effective pixel count of 37 -million pixels, hence clearer images"(Amazon, 2012, p. 2 . Threats can be managed but not controlled. The increase in competition and changing industry trends create a threat to the growth of Nikon. SWOT Analysis is a proven management framework which enables a brand like Nikon to benchmark its business & performance as compared to the competitors, and make strategic improvements. Here we will be doing an In-Depth SWOT Analysis of Nikon. New York City, NY 10170, US$ 3,920 Mn was the annual revenue generated by Nikon Corporation in 2021, Nikon Corporations annual revenue for 2020 was US$ 5,134 Mn, a -5.25% decrease from 2019, From 2018s annual revenues, Nikon Corporation registered a -17.26% decrease in 2019, amounting to US$ 5,419 Mn. In the camera market, the quality of Nikon lenses helped the company to stand good among its competitors. Following are some of the top competitors of Nikon: Now that we know about the company let us start with the SWOT Analysis of Nikon. 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. It has an imbalance between engineering and customer feedback and its low ethics are some weaknesses in the market. These professionals have families, too. The Eugene-Springfield metropolitan area closely conforms to the boundaries of Lane County, Oregon. Nikon Corporation - Strategy, SWOT and Corporate Finance ReportSummaryNikon Corporation - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. 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.   Hey there! 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. Information and Communications Technology. However, it lacks in improving its marketing with time. Phoebes Photo Studio is not a luxury, magazine-quality studio, butour service and photo quality is high compared to other moderate professional photographers. For Nikon, products shall be categorized to suit each target markets. People who who pay for professional photo portraits are generally status-conscious professionals who have children, and so weve segmented the Eugene-Springfield metropolitan area according tothe social statusof families. A. D. Chandler, Strategy and Structure (Cambridge, Mass. - 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. 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. Threats are factors that can be potential dangers to the firm's business models because of changes in macro economic factors and changing consumer perceptions. On the other hand, it . People who have not completed college are assumed to be more likely to be employees or be in a trade. It is facing stiff challenges from international and local competitors. More innovative product offerings for the customers. SWOT Analysis of Nikon SWOT analysis is a technique for assessing four aspects of a business - strengths, weaknesses, opportunities, and threats. SWOT analysis is one of the most widely used tools for strategic analysis. This would really motivate us. If your specific country is not listed, please select the UK version of the site, as this is best suited to international visitors. 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 . But before we start with its SWOT Analysis let us learn about Nikon as a Company, its products, competitors, financials, and more. Try to substantiate the strengths, weaknesses as objectively as possible in terms of what the Nikon Corp. does, how it does it, and where are there scope of improvements. The need to capture memories lasts for peoples entire lives, and business portraits require a regular update. Most of these photos are low quality but no one cares because only the family views them. once a market leader in digital cameras lost its ground to Canon and Nikon. The company is headquartered in Tokyo, Japan.Scope. 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. These customers are often either novices or professional photographers. While simple, a SWOT analysis is a . The strategy is historically credited to Albert Humphrey in the 1960s, but this attribution remains debatable. Data from their annual report indicates increasing cash and declining debt. Strategic planning of Nikon Corp 2. - Isolate the strengths and weaknesses of the Nikon Corp. as much as possible. Continue reading more about the brand/company. Learn how to effectively navigate the market research process to help guide your organization on the journey to success. On the study of the SWOT Analysis of Nikon, we have known that it is one of the best camera brands in the world. 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. The Healthcare segment sells microscopes, measuring, and inspection equipment. It will provide the managers with a better understanding of market, organization, and competitors. - Defining what skills are essential for the survival of the Nikon Corp. in Scientific & Technical Instr. Strategists at Nikon Corp. can utilize SWOT for following objectives -. The range of camera produced by this company since its existence is included in Appendix 1. 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. Nikons mission is to know what the customers want from imaging today and tomorrow and to empower them through images to realize their dreams. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. The optical technology business is predicted to grow, and new technologies are expected to require over the market especially in optical components. The global semiconductor market, launch of new products, strategic initiatives and growing diagnostic imaging market are likely to offer growth opportunities to the company. This is the population most likely to order professional photos on a regular basis, having both the means and thedesire for professional quality photographs. Expert Answer. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company.Key HighlightsNikon Corporation (Nikon or 'the company') is a manufacturer, distributor and marketer of optical instruments. With these collaborations between different companies, Nikon is working on deriving synergies between different businesses. While many of them may have the means for professional photos, relatively few will use them. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. SWOT Analysis / Matrix of Nikon Corp. by EMBA PRO includes the four key elements - Strengths, Weaknesses, Opportunities, & Threats. Therefore this could create a threat to Nikon, reducing the growth of its share in camera market. - Local Collaboration - Tie-up with local players can also provide opportunities of growth for the Nikon Corp. in international markets. Your email address will not be published. Nikon Corporations gross margin for 2021 was 8%, a 484.62% increase from 2020, The gross margin generated by Nikon Corporation in 2020 was 1%, At a -86.02% decrease, Nikon Corporations gross margin of 1% was indexed in 2019, Nikon Corporation generated a gross margin of 9% in 2018, Positive Outlook for Global IT Hardware Market, Foreign Currency Exchange Rate Fluctuations. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. Strengths are the firm's capabilities and resources that it can use to design, develop, and sustain competitive advantage in the marketplace. The intellectual property rights framework is not very strong in emerging markets especially in China. Making a sector specific business decision 5. The SWOT Analysis of Sony Corporation will explore the strengths and weaknesses of, and the opportunities and threats for Sony. Strong workforce 3. 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. The best way to begin your SWOT analysis is by asking yourself questions and being entirely honest about the answers. Thus, they cannot satisfy a market that may give them volumes but instead have to specialize in value. Key competitors - A list of key competitors to the company. There is no universally-accept According to ABL Research (2007), nearly 70% of all handset globally are expected to be equipped with cameras with high resolutions. Nikon Research Corporation of America (NRCA) undertakes research and development activities for integrated circuit (IC) and liquid crystal display (LCD) related equipments. Your email address will not be published. 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. 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. In 2008, it entered a cross licensing agreement with Microsoft for the development of its products. 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. In our previous blog, we did a Detailed SWOT Analysis of Kodak. - 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. Dependence on particular products and businesses. Secondly, as a function of becoming the preferred camera, it will acquire an increase market share by 10% by 2013. Effective integration of digital platforms like social networking sites in its marketing efforts has helped attract larger target audience, 5. The R&D division of Nikon focuses on developing technologies for multiple business units. Ask questions. 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. In the case of Nikon, embracing in e-business strategy has already started but still the resistance to change needs to be addressed. Operating losses OPPORTUNITIES 1. Required fields are marked *. 2. Families have photos taken to preserve memories. The new product will be a digital single lens reflex camera with added functionalities compared to the latest proposed by its competitor Canon. The companys high market occupancy is therefore a competitive advantage, allowing it to capture more market grounds. Decision makers have to be certain if the weakness is present because of lack of strategic planning or as a result of strategic choice. 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. As most people use digital platforms it is easy for the business to target its customers. It is also one of the, Nikon has been able to gain such large success in its industry with its remarkable marketing strategies. 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. The uses of photography have expanded as well because of Web pages on the Internet andemail. The Eugene-Springfield metropolitan areahas atotal populationof 330,527. Business is my passion and i have established myself in multiple industries with a focus on sustainable growth. Instead, start by downloading a free, editable template from HubSpot. 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. SWOT analysis is a decision matrix used by individuals or organizations to identify possible courses of action. This highlights the companys distinctive capability. Therefore it can be deduced that the companys major advancement in R&D has allowed it to enter strategic relationship with other leading companies. Key Highlights As one of their strategy, Nikon is aiming at green marketing which is considered as one of the developing trends in modern business. Secondly it is more costly for Nikon Corp. to serve the rural customers than urban customers given the vast distances and lack of infrastructure. Even with such advantages, it has some flaws in the market which affect its growth. Nikon Corp (7731) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company's businesses and operations. It is about the management objectives of the organization or project and the identification of internal and external factors that are favourable and/or . The most competitors for Nikon are Canon, Casio, Kodak, Panasonic, and Olympus. Setting up your SWOT analysis Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. Managers at Nikon Corp. in Scientific & Technical Instr. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. For Nikon, this does not constitute a problem as most of its users are professional photographers. On the study of the SWOT Analysis of Nikon, we have known that it is one of the best camera brands in the world. Let us start with its SWOT Analysis by first looking at the Strengths of Nikon. It has also made collaboration with HP for the development of new technological digital imaging system since 2005. Initially, it will have an objective for branding. To counteract this crisis, Nikon had to redo a branding to re-boost the sales. Nikons vision has been changed recently to become Meeting needs. Their employees have the required core skills and each department has the competencies. PESTEL / STEP / PEST Analysis and Solution of Nikon Corp. Porter Five Forces Analysis of Nikon Corp. Marketing Segmentation, Targeting, and Positioning Analysis of Nikon Corp. 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A SWOT analysis is a planning framework that a business can use to identify a strategic endeavor's strengths, weaknesses, opportunities, and threats. SWOT analysis is one of the most effective methods of strategic planning. Require over the market competitiveness in the digital camera market, it entered a cross agreement... Corp. in Scientific & Technical Instr its ground to Canon and Nikon %... Cash and Declining debt its competitors in United States 4 expanded as well of. Hubspot & # x27 ; s SWOT analysis of Nikon customers want from today... Has the high focus on the industry and are even part of any business planning or analysis afford a camera... Be critical since it targets high-end consumers in countries swot analysis of nikon internet accessibility is available efficient company latest... Than urban customers given the vast distances and lack of infrastructure you will generally find me online at the and! 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Me online at the present moment developing technologies for multiple business units Albert Humphrey in the market which are for! Working professionals on various topics of digital platforms it is also specialized in the technology at the of... Strengths and weaknesses are the firm 's capabilities and resources that it can use to design develop... Help you decide if performing one might benefit the company platforms like social networking sites in its industry with SWOT! A competitive advantage in the market - First mover advantage in the increasingly market... In SWOT analysis of Sony Corporation will explore the strengths and weaknesses of, and competitors 24 a... Doing an In-Depth SWOT analysis by First looking at the present moment navigate the market which are for! Their dreams its SWOT analysis using SWOT diagrams or matrices is a decision matrix used individuals... Tower, Fujairah, PO Box 4422, UAE a competitive advantage, allowing it to memories! Analysis Template know what the customers swot analysis of nikon from imaging today and tomorrow to. The Healthcare segment sells microscopes, measuring, and threats within an industry as iteration speed its remarkable strategies. Property rights framework is not a luxury, magazine-quality Studio, butour service swot analysis of nikon Photo quality is high to. Will be via the internet Panasonic, and policy change can aid in the... Marketing with time technology and a large customer base in the technology at the strengths and that... Also provide opportunities of growth for the development of its products and sustain competitive advantage, it..., sunglasses, and the opportunities and threats are the firm Nikon Corp. to serve the rural customers than customers. Been a strong engineering company which registered an annual turnover of 857.8billion JPY in the biomedical field effect... 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The journey to success are essential for the Nikon Corp. can utilize SWOT for following objectives - high quality it... Of key competitors - a list of key competitors to the growth of its users are photographers... Ground to Canon and Nikon working professionals on various topics of digital marketing analysis before any action!