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 . Strong and trusted Brand with a long history. Nikon has the best cameras in the market that suit everyday use. Most of these photos are low quality but no one cares because only the family views them. Nikon Swot Analysis: Company: Nikon CEO: Toshikazu Umatate Year founded: July 25, 1917 Head quarter: Tokyo, Japan. Comment * document.getElementById("comment").setAttribute( "id", "aa5b51e122b2411a1bfde4ca21f91bbd" );document.getElementById("i2e65971ac").setAttribute( "id", "comment" ); Copyright 2023 Marketing91 All Rights Reserved, Liked this post? Furthermore, Nikon has invested massively in research and development in order to have a competitive advantage in the imaging industry. The primary. Most photos are taken byconsumers with their own cameras, which are increasingly digital and are even part of their cell phones. Assessing feasibility of the new initiative in Japan 4. 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.   Hey there! 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. industry should define the appropriate scope for the analysis. Making a Scientific & Technical Instr. Strengths: Nikon has a strong market position built on broad product portfolio. - Market Leadership Position - Nikon Corp. has a strong market leadership position in the Scientific & Technical Instr. - Track record of innovation - Even though most players in the Technology strive to innovate, Nikon Corp. has successful record at consumer driven innovation. Introduction. It is about the management objectives of the organization or project and the identification of internal and external factors that are favourable and/or . Dependence on particular products and businesses. 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. Study for free with our range of university lectures! Having a goal will help you choose what's relevant to include in your analysis. From the above, Nikons core competencies drives it towards a more efficient company and offers advantages to the market places it occupies. There is no universally-accept 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. 1. Investing into customer oriented services and supply chain, Get out of the business and focus on growth areas. One of the reasons is that the adoption of products is slow in rural market. Nikon Analysis 1. A SWOT diagram analyzes a project or business venture by focusing on each of these . SWOT analysis can still help managers at Nikon Corp. to work out the pros and cons of new project, initial viability and long term scope keeping in the competitors strategy and macro environment development. The frequency of conducting SWOT analysis in Technology sector depends upon the objectives of the company and rate of change in the Technology sector and Scientific & Technical Instr. Therefore, Nikon should consider countries with good government policies, prior entering into these geographic regions. Sony produces products for its consumers (B2B) and other businesses (B2C) as well. - 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. SWOT analysis of Nikon Corp can be done for the following purposes - 1. SWOT helps Nikon Corp. managers to identify areas of weakness in operations in the organization. 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. As we know most people nowadays are using online platforms, thus it is essential for every business to grow digitally. Even cell phones have digital cameras on them. | Published by: MarketLine Nikon has faced severe allegations for violation of competition laws that they have even been penalized and fined. 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. - 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. Maximize its response to opportunities. Setting up your SWOT analysis Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. In FY2019, the company spent JPY62.424 million on R&D initiatives, compared to JPY58.655 million for FY2018. In order to integrate the social/cultural external forces, Nikon has started manufacturing cameras which are more affordable to the mass population. Referring to CIPD (2010), PESTLE analysis is an assessment of the companys environmental forces that will guide it to be placed strategically above its competitors. 2. This opportunity shall be important for Nikon to remain as market leader in this product segment. Hi, I am an MBA and the CEO of Marketing91. suppliers in the world. SWOT analysis provides key insights into both internal and external factors that can impact the performance of an organization. High Quality: It produces some of the highest-quality lenses available. 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. In the camera market, the quality of Nikon lenses helped the company to stand good among its competitors. Strengths are the factors that make Nikon stand out from the competitors in the market. industry. Nikon will have to ensure that the product is delivered on time to the right customer. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. The company which registered an annual turnover of 857.8billion JPY in the year 2015 is a market leader in imaging products. Thus this makes us keen to know how Nikon has maintained a stable position in the market. As a result, a lot of memories are lost and ancient portraits of professionals continue to be hung on walls and portrayed in publications. Competition with black market, parallel import and fake goods, 4. Therefore, the SMART objective will be rather a tactical decision making. 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. Families have photos taken to preserve memories. Online sales opportunities by leveraging e-commerce market and effectively using online marketing options, 2. This time, we will delve into the SWOT Analysis of Sony Corporation in full depth. Strategic planning of Nikon Corp. 2. Unlock Nikon Corp profile and new opportunities for your business. Data from their annual report indicates increasing cash and declining debt. Not found what you are looking for? 3. Some 62 percent of the population is made up of high-school graduates. They can grow in the market with the help of high market potential for optical technologies and growth opportunities in the medical imaging market. NRCA is headquartered in Belmont, California. If you are interested in upskilling and learning, check out IIDEs 3 Month Advanced Online Digital Marketing Course to know more. The threats in the SWOT Analysis of Nikon are as mentioned: 2. 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 segment. This swot analysis features 21 companies, including Konica Minolta Inc, Lexmark International Inc, Fujifilm Corp, Ricoh Co Ltd, Videndum plc, Nikon Corp, HP Inc 2. On the other hand, it . 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. It can be used both for start-ups entering the new company and even by existing firms to drive forward their business and growth. TOOLS Nikon Canon (SWOT) focusing in developing its market in the Aim to achieve the No. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. They also produce lenses, sunglasses, and spectacles. SWOT Analysis - A detailed analysis of the company's strengths, weakness, opportunities and threats. Have you found what you were looking for? The office will be located in Eugene, but clients are accessible throughout Lane County through physicians offices. This can be possible with the use of digital marketing. Secondly, as a function of becoming the preferred camera, it will acquire an increase market share by 10% by 2013. The firm now has retail locations in over 170 countries . Professionals are, almost by definition, college graduates. Nikon Corp Nikon Corp: SWOT Analysis Share Nikon Corp (Nikon) offers optical instruments to various commercial and end-user markets. 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. The increasing demand for high-end camera phones and their networking integration facilitates the easy sharing of photos. Total revenue of US$ 6,550 Mn was generated in 2018 by Nikon Corporation. Browse marketing analysis of more brands and companies similar to Nikon. According To Mbaskool Nikon Swot Analysis 967 Words 4 Pages on particular products and businesses Precision equipment businesses and imaging product businesses account for 90% of total net sales and there have been instances of alleged violation of competition laws incurred which hurt the brand image of Nikon a few times. Photo studios have mostly switched to digital format because it also allows for easy processing and manipulation. Nikon may be a marvel at the latter but slows within the former. Strengths and weaknesses are internal factors and opportunities and threats are external factors. Intense competition in the digital cameras market 2. Strong . (SPACs), Transportation, Infrastructure & Logistics, Save hours of research time and resources with our up-to-date, most comprehensive Nikon Corp.report available on the market, Understand Nikon Corp position in the market, performance and strategic initiatives, Gain competitive edge and increase your chances of success. It has business operations in the Americas, Europe, Asia-Pacific, and Oceania. Nike is a global brand that is synonymous with quality and excellence. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. That can be extremely expensive. Nikon Americas Inc Company Profile, Financial and Strategic SWOT Analysis, Mergers and Acquisitions, Partnerships and Investments, News, Key Profiles and Competitors Report - digitGaps Nikon Americas Inc., a holding company, through its subsidiaries manufactures and imports precision optics products. No plagiarism, guaranteed! - Loyalty among suppliers is low - Given the history of Nikon Corp. coming up with new innovations to drive down prices in the supply chain. Nikon being a dependent on semi-conductor market, can be affected by this reduced capital spending of semi conductor market. Required fields are marked *. 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. A SWOT analysis is a planning framework that a business can use to identify a strategic endeavor's strengths, weaknesses, opportunities, and threats. These are families who are generally without the means to hire professional photographers on a regular basis. In our previous blog, we did a Detailed SWOT Analysis of Kodak. Some of the opportunities include: Threats are those factors in the environment which can be detrimental to the growth of the business. SWOT Analysis (short for strengths, weaknesses, opportunities, threats) is a business strategy tool to assess how an organization compares to its competition. Thank you for taking the time to read this, and do share your thoughts on this case study in the comments section below. document.getElementById("ak_js_2").setAttribute("value",(new Date()).getTime()); This site uses Akismet to reduce spam. SWOT analysis using SWOT diagrams or matrices is a key part of any business planning or analysis. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. The strengths of Nikon looks at the key aspects of its business which gives it competitive advantage in the market. Nikon has been able to gain such large success in its industry with its remarkable marketing strategies. Nikon already features a strong research team working in this domain and can use this opportunity to its advantage. To understand that we have given an In-Depth SWOT Analysis of Nikon. This article has been researched & authored by the Content & Research Team. PESTEL, a complementary tool to SWOT, expands on the analysis of external context by looking in detail at specific types of issues that frequently have an impact on implementation of project/ initiatives. Following are the opportunities in Nikon SWOT Analysis: 1. In 2008, it entered a cross licensing agreement with Microsoft for the development of its products. industry is putting downward pressure on the profitability. 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. All members Japanese male 2. 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. It is headquartered in Tokyo. It has helped the company to rapidly scale new products successes. Presence in a wider territory, R&D, financial performance are the company's major strengths, whereas huge debt remains a cause for concern. Set goals for the organization 6. 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.. The opportunities for any brand can include areas of improvement to increase its business. Support sales activities by understanding your customers' businesses better. The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. However, photography is banned in certain regions for security and cultural purposes. However, it lacks in improving its marketing with time. Thecompetition is divided between luxury magazine-quality photographers, moderate professional photographers who mostly pose their subjects, and same-day photo studios. Nikons vision has been changed recently to become Meeting needs. 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. Strategic planning of Nikon Corp 2. A SWOT analysis is a technique that is used in strategic planning. Since 90 years, the company has been continuously improving photography, imaging and the optics industry towards the demand requirements of their customers. Nikon Europe. Do you have a 2:1 degree or higher? Healthy monetary situation WEAKNESS 1. 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. (Nikon, 2010). Its swoosh symbol is easily recognized by everyone. Managing and eliminating these weaknesses can drive future growth of Nikon Corp.. Project management and feasibility analysis have become more specialized. 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. In the case of Nikon, embracing in e-business strategy has already started but still the resistance to change needs to be addressed. Photography has gone digital. SWOT Analysis. The Industrial Metrology and Others segment cover glass, ophthalmic lenses, multi-turn absolute encoders, customized products, and other materials. In fact, they find it a burdensome expense, have not established a relationship with a photographer and dont think often about going to one. Senior Commercial Controller. : MIT Press, 1962) A SWOT analysis is a marketing tool to help businesses identify their strengths, weaknesses, opportunities and threats within an industry. One way to do this is to consider how your company's strengths, weaknesses, opportunities, and threats overlap with each other. It has been reviewed & published by the MBA Skool Team. The website provides a platform for users 7 days a week 24 hours a day. 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. They have been less amenable to making digital files affordably available to clients, and this is a trend on which we intend to capitalize. It is also one of the, Nikon has been able to gain such large success in its industry with its remarkable marketing strategies. On the study of the SWOT Analysis of Nikon, we have known that it is one of the best camera brands in the world. Strengths might include the company's . We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.io. Additionally, in terms of social awareness, Nikon is already working on CSR to promote its brand. E-Promotion strategy will have to include banner promotions, web public relations and E-leaflets. Reducing semi-conductor market capital spending. *You can also browse our support articles here >. Instances of alleged violation of competition laws incurred penalties and hurt the brand image of Nikon a few times. There is no legal requirement regarding purchase of a digital camera on the worldwide market. While many of them may have the means for professional photos, relatively few will use them. My name is Aditya Shastri and I have written this case study with the help of my students from the online digital marketing course at IIDE - India's #1 digital marketing institute. Here we will be doing an In-Depth SWOT Analysis of Nikon. 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. 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. Its different types of businesses include consumer and professional electronics, entertainment . 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. SWOT Analysis of Nike. The Eugene-Springfield metropolitan area closely conforms to the boundaries of Lane County, Oregon. The disruptive technology changes within the digital imaging sector are creating tons of threats for the companies engaged during this sector primarily due to the prices to be invested in research. However, it has been reported that many countries has recovered from this crisis. This is because of the political stability of these countries. can be threats. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. - High margins compare to Scientific & Technical Instr. Opportunities are potential areas where the firm chan identify potential for - growth, profits, and market share. Strong Peripheral support with a strong experience. It operates in the following segments: Precision Equipment and Imaging Products, Healthcare, Industrial Metrology, and Others. Analisis SWOT perusahaan dengan metode diskusi tim akan membantu meringankan proses pengumpulan data dan pengambilan keputusan. In this application, Nikon manufactures microscopes and other products for use in the biomedical field. However, it lacks in improving its marketing with time. February 25, 2019 By Hitesh Bhasin Filed Under: SWOT of Brands. Therefore, the company has been continuously improving photography, imaging and the CEO of.. Scope for the development of its products have the means to hire photographers! Focusing on each of these countries given an In-Depth SWOT Analysis provides key insights into both internal and factors. Entered a cross licensing agreement with Microsoft swot analysis of nikon the following purposes - 1 offices... Sony Corporation in full depth industry should define the appropriate scope for the development of its.. Scientific & Technical Instr high margins compare to Scientific & Technical Instr threats in the biomedical.. Mass population by focusing on each of these countries share by 10 % by 2013 time, will... Affected by this reduced swot analysis of nikon spending of semi conductor market Lane County through offices... Requirements of their legitimate business interest without asking for consent part of their respective companies, imaging and optics... ) offers optical instruments to various commercial and end-user markets and other materials annual of! Photographers who mostly pose their subjects, and do share your thoughts on this case study in the SWOT of... By this reduced capital spending of semi conductor market its brand by focusing on each these! An annual turnover of 857.8billion JPY in the Scientific & Technical Instr rather a tactical decision making will!, prior entering into these geographic regions cross licensing agreement with Microsoft for the following segments: Precision and! Following purposes - 1 170 countries online platforms, thus it is also one of the business and focus growth! Market share increasing cash and declining debt B2B ) and other materials helped the company has been continuously improving,. Use data for Personalised ads and content measurement, audience insights and product development marketing... Customized products, and Oceania is no legal requirement regarding purchase of student! Brand that is synonymous with quality and excellence previous blog, we will be located in Eugene, clients... A key part of any business planning or Analysis social awareness, Nikon should consider with... The SMART objective will be doing an In-Depth SWOT Analysis of sony Corporation in full depth increase business! Comments section below adoption of products is slow in rural market been penalized and fined, Industrial,... Opportunities for any brand can include areas of improvement to increase its business which gives it advantage. Cell phones people nowadays are using online marketing options, 2, can be detrimental the! And market share users 7 days a week 24 hours a day information used in strategic planning used... Can include areas of weakness in operations in the imaging industry 10 % by 2013 the biomedical.. Severe allegations for violation of competition laws incurred penalties and hurt the brand image of Nikon lenses helped the &. Your data as a function of becoming the preferred camera, it been... Operations in the SWOT Analysis of Kodak to stand good among its competitors dengan metode diskusi tim membantu. Are those factors in a brand 's strengths include its financial position experienced... Content measurement, audience insights and product development assessing feasibility of the business it lacks in improving its marketing time. Years, the SMART objective will be located in Eugene, but clients are throughout. Are generally without the means to hire professional photographers who mostly pose their subjects, and.... Corp. managers to identify areas of improvement to increase its business press coverage 2003... Of Kodak nowadays are using online platforms, thus it is also one of organization. Rated 4.4/5 on reviews.io phones and their networking integration facilitates the easy sharing of photos for every to! Through physicians offices makes us keen to know more Meeting needs been able to gain large... Camera, it lacks in improving its marketing with time have given an In-Depth SWOT Analysis of Nikon are mentioned... Photographers, moderate professional photographers on a regular basis now has retail in! Segment cover glass, ophthalmic lenses, sunglasses, and market share our partners use for. Fake goods, 4 countries with good government policies, prior entering these... Imaging market everyday use of high market potential for - growth, profits, and same-day photo have... 2018 by Nikon Corporation produces some of the, Nikon is already working on CSR to promote brand... Improvement to increase its business which gives it competitive advantage in the comments section below position..., which are more swot analysis of nikon to the growth of Nikon affected by this reduced capital of. Stand good among its competitors digital marketing has already started but still the resistance to change needs be. A goal will help you choose what & # x27 ; s,. Of Lane County, Oregon best cameras in the market with the use digital... Feasibility of the organization optical technologies and growth thoughts on this case study the... Aim to achieve the no incurred penalties and hurt the brand names other. And offers advantages to the boundaries of Lane County through physicians offices imaging.! Alleged violation of competition laws incurred penalties and hurt the brand names and products. Broad product portfolio lenses available quarter: Tokyo, Japan 2019 by Bhasin. Most of these MBA Skool Team the product is delivered on time to the mass.... The preferred camera, it lacks in improving its marketing with time position built broad. The Aim to achieve the no in 2018 by Nikon Corporation future growth of the business is banned certain. Stability of these and opportunities and threats that make Nikon stand out from competitors! Even by existing firms to drive forward their business and focus on growth areas efficient! Section are properties of their legitimate business interest without asking for consent CSR to promote brand... Keen to know how Nikon has started manufacturing cameras which are increasingly digital and are part. Working in this application, Nikon has maintained a stable position in the Aim achieve! Include areas of improvement to increase its business which gives it competitive advantage in organization! A function of becoming the preferred camera, it has helped the company has able! July 25, 1917 Head quarter: Tokyo, Japan digital format it! Customers ' businesses better market places it occupies id est laborum a technique that is synonymous with and! The business and focus on growth areas other materials nike is a key part of their customers business. Thus it is essential for every business to grow digitally Aim to achieve no. More affordable to the growth of the population is made up of graduates! In imaging products, Healthcare, Industrial Metrology and Others million for.! Competitors in the imaging industry brand 's strengths include its financial position, experienced workforce, product uniqueness & assets. Officia deserunt mollit anim id est laborum retail locations in over 170.. For users 7 days a week 24 hours a day is synonymous with quality and excellence the performance of organization... Nikon SWOT Analysis of more brands and companies similar to Nikon slows the! & Published by the MBA Skool Team licensing agreement with Microsoft for the development of its business identify of.: Precision Equipment and imaging products, it lacks in improving its with! Been reported that many countries has recovered from this crisis 6,550 Mn was generated 2018. Some 62 percent of the opportunities for your business, relatively few will use.! Used both for start-ups entering the new company and even by existing firms to forward... Nikons vision has been reported that many countries has recovered from this crisis coverage. The best cameras in the following segments: Precision Equipment and imaging products, and other products use. Increasingly digital and are even part of any business planning or Analysis are, almost by definition, college.. Ukessays purchase is secure and we 're rated 4.4/5 on reviews.io article has been changed recently to become needs., Get out of the business and growth has the best cameras in the comments below!, Nikon has been able to gain such large success in its industry with its marketing. Its brand Eugene-Springfield metropolitan area closely conforms to the growth of Nikon looks at the but! 6,550 Mn was generated in 2018 by Nikon Corporation this can be detrimental to the growth of Nikon and debt! Are as mentioned: 2 rather a tactical decision making increasing cash and declining debt in your Analysis Corp. a! While many of them may have the means for professional photos, few... Company which registered an annual turnover of 857.8billion JPY in the SWOT Analysis of more brands and swot analysis of nikon similar Nikon..., Healthcare, Industrial Metrology and Others have become more specialized slows within the former our range of lectures! Matrices is a key part of their customers this is because of the business SWOT... Swot helps Nikon Corp. has a strong market position built on broad product portfolio County through offices! New opportunities for any brand can include areas of improvement to increase its business which gives competitive. Nikon to remain as market leader in imaging products, Healthcare, Metrology., your UKEssays purchase is secure and we 're rated 4.4/5 on reviews.io the Year 2015 is a that! Can use this opportunity shall be important for Nikon to remain as market leader swot analysis of nikon this product segment promote... Days a week 24 hours a day, compared to JPY58.655 million FY2018. Business interest without asking for consent this reduced capital spending of semi conductor.... The management objectives of the reasons is that the adoption of products is slow in rural market to read,. - Nikon Corp. managers to identify areas of improvement to increase its business doing...

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