The uses of photography have expanded as well because of Web pages on the Internet andemail. The strengths of Nikon looks at the key aspects of its business which gives it competitive advantage in the market. The consent submitted will only be used for data processing originating from this website. 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 . 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. It can be used to both assist with planning and as a way to quickly . 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. Maximize its response to opportunities. Digital images are needed for printing uses as well, for such uses as brochures and business cards. On the other hand, it . 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. 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. This is because of the political stability of these countries. 2. 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. Current Customer Profile Current Marketing Strategies Current SWOT analysis New Customer Profile New Marketing Strategies Rebecca Gray and Josh Gallant Marketing 1 period C Mrs. Scheffer 2. I am a Digital Marketer and an Entrepreneur with 12 Years of experience in Business and Marketing. Direct competitors for Nikon in the imaging products are Sony, Canon, Panasonic, Samsung, Olympus and Kodak. Non-core activities are thus being divested as they do not provide any competitive advantage to Nikon. This article analyses the company using the SWOT Methodology. This highlights the companys distinctive capability. It also works on future technologies. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.io. The social needs for a camera are becoming more and more important. - Increasing government regulations are making it difficult for un-organized players to operate in the Scientific & Technical Instr. Good branding of Nikon through sponsorships of events and sports teams. *You can also browse our support articles here >. Some of the competitors for Nikon include matrix metering and color recognition, optical VR, processing chain bandwidth amongst others. Some factors like increased competitor activity, changing government policies, alternate products or services etc. - Market Leadership Position - Nikon Corp. has a strong market leadership position in the Scientific & Technical Instr. The SWOT Analysis is a useful methodological tool to analyze companies and arrive at a logical . (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. 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. In this manner, the different risks shall be considered prior to implementing the changes drastically. Consumers generally engage professional portrait photographers when the photos will be viewed outside the family and when quality matters. MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. Expanding its presence in the global market is often an enormous opportunity for Nikon. Striving to brighten the human experience. SWOT Analysis of Nikon: Strengths of Nikon 1. Here we will be doing an In-Depth SWOT Analysis of Nikon. Furthermore, markets for low income consumers were looked into such that these consumers could afford a trustworthy camera. Some of the key weaknesses of Nikon are: The imbalance between engineering and customer feedback: Nikon has always been a strong engineering company which has the high focus on research. The Eugene-Springfield metropolitan area closely conforms to the boundaries of Lane County, Oregon. They also produce lenses, sunglasses, and spectacles. High quality of product 2. They can grow in the market with the help of high market potential for optical technologies and growth opportunities in the medical imaging market. The company was founded in 1964 and became successful just after some years. 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. Reverse its weaknesses. The threats in the SWOT Analysis of Nikon are as mentioned: 2. 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. There are 74,836 families. All these are already being provided by Nikon on their websites. It was established on July 25, 1917. Unlock Nikon Corp profile and new opportunities for your business. Dedicated to your worth and value as a human being! The term SWOT is an acronym for these four factors. Strategists at Nikon Corp. can utilize SWOT for following objectives -. For Nikon, this does not constitute a problem as most of its users are professional photographers. Nikon established an R&D division. Therefore Nikons market has been mainly directed towards the consumers (B2C) and businesses (B2B). So, set a goal. Theyare more likely to use home-made photographs, except for rare occasions, such as a high school photo or wedding. It is a source of information for strategic planning. SWOT Analysis / Matrix of Nikon Corp. by EMBA PRO includes the four key elements - Strengths, Weaknesses, Opportunities, & Threats. This has been witnessed by the elimination of traditional film camera to the latest SLDR camera. Using the marketing mix in the global market with e-business, the 4Ps wwill now become E-Product, E-Pricing, E-Place and E-Promotion. The following table and graph give the breakdown in demographic terms. Here are the top 10 of its positive features to benefit your company. Furthermore, Nikon publishes a range of information regarding its products on its website. Definition (1) A technique for representing the current strategic position of a business, brand, product, service, person, event or organization. Nikon Analysis 1. Presence in a wider territory, R&D, financial performance are the company's major strengths, whereas huge debt remains a cause for concern. (Nikon, 2010). Here we will be doing an In-Depth SWOT Analysis of Nikon. According to ABL Research (2007), nearly 70% of all handset globally are expected to be equipped with cameras with high resolutions. More innovative product offerings for the customers. Most Lane County residents are accustomed to doing occasional business in Eugene. Though not over the highest Nikon has always been focused on maintaining a positive relationship with its stakeholders. Nikon Corporations operating income for 2021 was US$ 483 Mn, a 368.93% increase from 2020, The operating income generated by Nikon Corporation in 2020 was US$ 103 Mn, At a -91.9% decrease, Nikon Corporations operating income of US$ 62 Mn was indexed in 2019, Nikon Corporation generated an operating income of US$ 764 Mn in 2018, Nikon Corporations net income for 2021 was US$ 300 Mn, a 348.5% increase from 2020, The net income generated by Nikon Corporation in 2020 was US$ 67 Mn, At a -88.53% decrease, Nikon Corporations net income of US$ 71 Mn was indexed in 2019, Nikon Corporation generated a net income of US$ 615 Mn in 2018, 12% was the operating margin generated by Nikon Corporation in 2021, Nikon Corporations operating margin for 2020 was 2%, an 81.82% increase from 2019, From 2018s operating margins, Nikon Corporation registered a -90.6% decrease in 2019, amounting to 1%. Strategic Planning: help senior management to develop and implement a long-term strategic plan that outlines the company's vision, mission, and goals. The need to capture memories lasts for peoples entire lives, and business portraits require a regular update. Intense competition in the digital cameras market 2. Nikon being a dependent on semi-conductor market, can be affected by this reduced capital spending of semi conductor market. Performing a SWOT analysis will feel different from anything you've done, so you may feel confused about how to start. It also features a relentless commitment to society and is involved in numerous social activities like scholarship programs for underprivileged kids and assistance for conflict or calamity-stricken areas. Some 62 percent of the population is made up of high-school graduates. Competition with black market, parallel import and fake goods, 4. 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. To counteract this crisis, Nikon had to redo a branding to re-boost the sales. A SWOT analysis is a planning framework that a business can use to identify a strategic endeavor's strengths, weaknesses, opportunities, and threats. The website provides a platform for users 7 days a week 24 hours a day. Its swoosh symbol is easily recognized by everyone. - Are there people extremely critical to organization that can tilt the balance between strengths and weaknesses of the company. Over the years the nature of the strategic planning has changed in the Scientific & Technical Instr.. managers utilize SWOT not only for short term planning but also for long term strategic planning. Nikon Corp. is involved in the manufacturing and sale of optical instruments. Source: EdrawMax. Moreover, the period of products has reduced and theres a robust likelihood that products get obsolete soon. Continue with Recommended Cookies. Data from their annual report indicates increasing cash and declining debt. Your email address will not be published. industry but also in the wider Technology sector. Photo studios have mostly switched to digital format because it also allows for easy processing and manipulation. Therefore this could create a threat to Nikon, reducing the growth of its share in camera market. Nikon Corp Nikon Corp: SWOT Analysis Share Nikon Corp (Nikon) offers optical instruments to various commercial and end-user markets. Managers at Nikon Corp. in Scientific & Technical Instr. These are families who are generally without the means to hire professional photographers on a regular basis. Secondly, as a function of becoming the preferred camera, it will acquire an increase market share by 10% by 2013. The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing,. Nikons vision has been changed recently to become Meeting needs. Nikon Corporation - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. - Competitors catching up with the product development - Even though at present the Nikon Corp. is still leader in product innovation in the Scientific & Technical Instr. Hence in the manufacture of its products, health and safety procedures are adhered to. Nikons biggest strength lies within the main target they have on their core competency which is expertise in imaging technologies. Opportunities OBJECTIVES AND MARKETING PLAN By our new product D10x, we want our users to experience the most fascinating ride in the field of photography. Major products and services - A list of major products, services and brands of the company. R. E. White, Generic Business Strategies, Organizational Context and Performance: An Empirical Investigation, Strategic Management Journal7 (1986). industry. It is headquartered in Tokyo. Following are the opportunities in Nikon SWOT Analysis: 1. sector specific business decision 5. View the full answer. Effective integration of digital platforms like social networking sites in its marketing efforts has helped attract larger target audience, 5. People who have not completed college are assumed to be more likely to be employees or be in a trade. shipment for the cameras Sale of Nikon. The firm now has retail locations in over 170 countries . 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. 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