Copyright Executive MBA Pro Resources 2022, BCG Matrix / Growth Share Matrix Analysis. Nikon is one of the best semiconductor equipment suppliers in the world. The company is headquartered in Tokyo, Japan and manufactures and sells imaging products, precision equipment, and instruments. industry. Considering the asian market, Nikon is the leader in most of the markets it operates. This analysis helps the company to identify its position in the market and gives it a wide idea about it to frame proper strategies. It has its core competency in imaging technology and a large customer base in the market. Following are the opportunities in Nikon SWOT Analysis: 1. Striving to brighten the human experience. SWOT Analysis of Nikon SWOT analysis is a technique for assessing four aspects of a business - strengths, weaknesses, opportunities, and threats. If you find this case study helpful, consider leaving a comment below. The increasing demand for high-end camera phones and their networking integration facilitates the easy sharing of photos. Overcome organization's threats. 1. Nikon Corp (Nikon) offers optical instruments to various commercial and end-user markets. Thus digital marketing is important for every business. Dedicated to your worth and value as a human being! People who have not completed college are assumed to be more likely to be employees or be in a trade. They always check out issues and check out to unravel them but when it involves understanding the customer needs Nikon may be a failure. Nikon Corp. Competition with black market, parallel import and fake goods, 4. Analyzing the macro trends from not only Technology industry perspective but from a more holistic perspective. SWOT analysis . Strengths might include the company's . 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 . With rapidly changing technology, Nikon has to keep pace with new technology in order to be competitive in the market. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. Therefore, Nikon should consider countries with good government policies, prior entering into these geographic regions. From start-ups to market leaders, uncover what they do andhow they do it. Strengths: Nikon has a strong market position built on broad product portfolio. This means that the company is in a strong liquidity status, allowing financial growth plans like market expansion to occur. (Kassaye, 2001). Families have photos taken to preserve memories. industry. 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. Performing a SWOT analysis will feel different from anything you've done, so you may feel confused about how to start. Research and development (R&D), which focuses on optical and precision measurement and manufacturing as well as image processing, material, and software technologies, is strong support for Nikon. 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. Let us start the Nikon SWOT Analysis: For Nikon, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. - 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. 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. There are several steps you'll want to take when evaluating your business and conducting a strategic SWOT analysis. But people generally dont look forward to seeing a photographer. Nikons R&D Unit coordinates between its R&D facilities and another business unit to share technology in the companys Technology Hub. L. Wrigley, Divisional Autonomy and Diversification (PhD, Harvard Business School, 1970) Digital images are needed for printing uses as well, for such uses as brochures and business cards. Nikon Corp Nikon Corp: SWOT Analysis Share Nikon Corp (Nikon) offers optical instruments to various commercial and end-user markets. It helps to identify the strengths, weaknesses, opportunities and threats of a business using a SWOT matrix. Most of these photos are low quality but no one cares because only the family views them. Required fields are marked *. The company was founded in 1964 and became successful just after some years. Thus, they cannot satisfy a market that may give them volumes but instead have to specialize in value. Manage Settings Additionally, in terms of social awareness, Nikon is already working on CSR to promote its brand. Amsterdam Area. Euromonitor (2018), "Technology Sector Analysis ", Published in 2018. Thecompetition is divided between luxury magazine-quality photographers, moderate professional photographers who mostly pose their subjects, and same-day photo studios. 3. 2022 - heden1 jaar 1 maand. Some 62 percent of the population is made up of high-school graduates. The study will examine SWOT Analysis in a historical, theoretical, time frame perspective, as an effective situation analysis technique which plays an important role in the fields of. It operates in the following segments: Precision Equipment and Imaging Products, Healthcare, Industrial Metrology, and Others. If your specific country is not listed, please select the UK version of the site, as this is best suited to international visitors. : MIT Press, 1962) It can be used to both assist with planning and as a way to quickly . With a global healthcare market growth of 4.5% during 2007, the market is expected to reach a value of $ 170.5 billion by the end of 2012. Establish cooperative agreements with other company THREATS 1. As most people use digital platforms it is easy for the business to target its customers. SWOT analysis using SWOT diagrams or matrices is a key part of any business planning or analysis. - Wide geographic presence - Nikon Corp. has extensive dealer network and associates network that not only help in delivering efficient services to the customers but also help in managing competitive challenges in Scientific & Technical Instr. December, 2021 SWOT Analysis / Matrix of Nikon Corp. by EMBA PRO includes the four key elements - Strengths, Weaknesses, Opportunities, & Threats. The companys high market occupancy is therefore a competitive advantage, allowing it to capture more market grounds. The local players have local expertise while Nikon Corp. can bring global processes and execution expertise on table. In this application, Nikon manufactures microscopes and other products for use in the biomedical field. 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. Leveraging brand recognition in new segments. If the scope is too broad then SWOT analysis wont able to highlight internal factors and if the scope is kept too narrow then managers can miss the macro environment opportunities and threats. 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. These are families who are generally without the means to hire professional photographers on a regular basis. 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. The following table and graph give the breakdown in demographic terms. These customers are often either novices or professional photographers. 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. Nike SWOT analysis will reveal their strengths and weaknesses that are hindering their growth. As one of their strategy, Nikon is aiming at green marketing which is considered as one of the developing trends in modern business. This can be possible with the use of digital marketing. 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. 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. It is headquartered in Tokyo. The Precision Equipment segment includes products and services that are related to integrated circuits and liquid crystal display steppers. Nikons strong in-house research & development (R&D), facilities are well supported. Conducting a SWOT analysis to identify the company's strengths, weaknesses, opportunities, and . 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. The companies are not associated with MBA Skool in any way.Edit the brand or add a new one to SWOT Analysis section : Contribute. Otherwise, you might end up with a ton of basic information and no idea how to apply it to your business. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! In fact, they find it a burdensome expense, have not established a relationship with a photographer and dont think often about going to one. 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%). 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. The article below lists the Nikon SWOT, competitors and includes its target market, segmentation, positioning & USP. It has business operations in the Americas, Europe, Asia-Pacific, and Oceania. Though not over the highest Nikon has always been focused on maintaining a positive relationship with its stakeholders. Benefits/Features Analysis. The optical technology business is predicted to grow, and new technologies are expected to require over the market especially in optical components. Study for free with our range of university lectures! - High margins compare to Scientific & Technical Instr. Photo studios have mostly switched to digital format because it also allows for easy processing and manipulation. 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. Free resources to assist you with your university studies! Strong Peripheral support with a strong experience. 2. The company is headquartered in Tokyo, Japan.Scope. segment. Definition (2) The process of listing the strengths, weaknesses, opportunities and threats for an entity in an environment of constraints and competition. Set goals for the organization 6. 6.0 PEST Analysis Although easy to remember and easily forgotten by firms in developing a long-term strategy, a "PEST analysis" is an acronym for analyzing the external environment (political, economic, sociological/demographic, and technological) and setting the stage for strategic planning. Nikon is one of the top names in its industry which caters to a large audience. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. Nikon Corp. already have know-how to operate into the competitive US market. 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. 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. All work is written to order. Definition (1) A technique for representing the current strategic position of a business, brand, product, service, person, event or organization. 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. This will definitely enhance the marketing strategies that Nikon has adopted for the international market. The most competitors for Nikon are Canon, Casio, Kodak, Panasonic, and Olympus. On the study of the SWOT Analysis of Nikon, we have known that it is one of the best camera brands in the world. However, it can implement some advance digital marketing techniques in the market to improve its market stand in the global market. Businesses might perform this analysis for a product, team, organization, leadership or other entities. Their employees have the required core skills and each department has the competencies. Some 25.5 percent of the adult population in the metropolitan area is composed of college graduates, which we will here define as professionals. 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. NRCA is headquartered in Belmont, California. SWOT helps Nikon Corp. managers to identify areas of weakness in operations in the organization. The purpose of SWOT analysis is relatively straightforward as it is primarily used as a planning tool to design the strategy needed for the business to grow. The demand for LCD screens is expected to grow in the long term. SWOT Analysis of Nike. Here's a detailed breakdown of Nike SWOT analysis. According to Datamonitor (2010), social responsibility in these countries is developing very fast, enhancing the education of the population. These students have put in a lot of effort in researching this topic to ensure that you gain in-depth knowledge and also help you complete your project (if thats what youre here for ) 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.. Increasing appeal of high end camera phones and their social networking integration facilitating easy sharing of photos, 3. 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. industry. 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. It can lead to higher salaries to maintain the talent within the firm. Leverages cutting-edge technology to produce world-class products. It is an essential practice for revealing the internal and external constraints that affect a business' performance and growth. Continue reading more about the brand/company. Clearly defining the objectives of the SWOT analysis. Learn how to effectively navigate the market research process to help guide your organization on the journey to success. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. It is about the management objectives of the organization or project and the identification of internal and external factors that are favourable and/or . A SWOT analysis is a framework that is used to analyze a company's competitive positioning in its business environment. industry should define the appropriate scope for the analysis. Nikons mission is to know what the customers want from imaging today and tomorrow and to empower them through images to realize their dreams. The company has played a critical role in setting and modifying trends in the photographic industry. Nikons vision has been changed recently to become Meeting needs. - What strategies Nikon Corp. can employ to diversify the risks emerging from the weaknesses of organization and threats from the macro environment. - First mover advantage in the increasingly crowded market place. The uses of photography have expanded as well because of Web pages on the Internet andemail. Nikon has expanded geographic presence with focus on developing markets provides expanded revenue stream with reduced business risk. 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. With alarming concern of climate change, Nikon is working on using recyclable materials to reduce the effect of carbon dioxide emissions. Thus this makes us keen to know how Nikon has maintained a stable position in the market. Intense competition in the digital cameras market 2. 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. Here are the weaknesses in the Nikon SWOT Analysis: 1. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. Nikon has been able to gain such large success in its industry with its remarkable marketing strategies. These external forces are: In terms of government policies and legislation, a new geographical market in digital camera will be beneficial as it will attract new investors in these locations. This time, we will delve into the SWOT Analysis of Sony Corporation in full depth. They have the budget and the need to use them for their families because they often entertain at home and their family photos will be on display. Strengths are the firm's capabilities and resources that it can use to design, develop, and sustain competitive advantage in the marketplace. For Nikon, products shall be categorized to suit each target markets. They also produce lenses, sunglasses, and spectacles. There is no universally-accept It is facing stiff challenges from international and local competitors. The Healthcare segment sells microscopes, measuring, and inspection equipment. They can appear in a simple table or as a presentation to help pull together a marketing strategy.. To help you identify your own standing in your market, we've pulled together a list of 31 SWOT analysis templates for professionals. It can happen to Nikon Corp. in the Technology at the present moment. So, set a goal. 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. Opportunities are potential areas where the firm chan identify potential for - growth, profits, and market share. Our rates are comparable to theirs, but we add value through personal contact and easy dissemination of digital images. The Eugene-Springfield metropolitan areahas atotal populationof 330,527. | USD $175, November, 2021 The SWOT Analysis of Sony Corporation will explore the strengths and weaknesses of, and the opportunities and threats for Sony. Secondly, as a function of becoming the preferred camera, it will acquire an increase market share by 10% by 2013. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company's key strengths and weaknesses and the potential opportunities and threats. Thank you for taking the time to read this, and do share your thoughts on this case study in the comments section below. Search this website. Also Known As. Expanding its presence in the global market is often an enormous opportunity for Nikon. Nikons percentage of expenditure in R&D rose from 5.1% to 6.1% in 2008. Hence, new digital camera can be considered as a commodity. All these are already being provided by Nikon on their websites. Dependence on particular products and businesses. The increase in competition and changing industry trends create a threat to the growth of Nikon. Accordingly, having hign inventories in a market where the trend of price is declining will affect Nikons operating performance. 1. It has its core competency in imaging technology and a large customer base in the market. It identifies the internal and external factors which may . Search more businesses reports such as PESTEL Analysis, Porter 5 Forces Analysis Nikon Corp. Information and Communications Technology. Let us start with its SWOT Analysis by first looking at the Strengths of Nikon. However, it has been reported that many countries has recovered from this crisis. New York City, NY 10170, US$ 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. While simple, a SWOT analysis is a . The core competencies usually relate to the capabilities of the firm, enhancing its competitiveness in the market it serves. The need to capture memories lasts for peoples entire lives, and business portraits require a regular update. 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 . Learning about the SWOT analysis model allows you to decide whether the tool can help you conduct a proper analysis of the business. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.io. Improving business portfolio management of Nikon Corp. 3. 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. The strategy is historically credited to Albert Humphrey in the 1960s, but this attribution remains debatable. It has helped the company to rapidly scale new products successes. A SWOT analysis is a technique used to identify strengths, weaknesses, opportunities, and threats for your business or even a specific project. - Are there people extremely critical to organization that can tilt the balance between strengths and weaknesses of the company. - High turnover of employees at the lower levels is also a concern for the Nikon Corp. . 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. Stay up to date on Nikon Corporation's business structure, strategy and prospects. 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. Americas, Europe, Asia-Pacific, and same-day photo studios have mostly switched to digital because! 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Your thoughts on this case study helpful, consider leaving a comment below BCG Matrix / share... Market position built on broad product portfolio free with our range of university lectures required core skills and each has... Into the SWOT analysis business using a SWOT analysis will reveal their strengths and that. Has maintained a stable position in the market, Kodak, Panasonic, and Oceania in! Therefore, Nikon is the leader in most of these photos are low quality but no one cares because the... Resources that it can use to design, develop, and sustain competitive advantage, swot analysis of nikon financial plans! Pace with new technology in order to be competitive in the following segments: Precision equipment, new. University lectures and conducting a SWOT Matrix focused on maintaining a positive relationship with its analysis... Its core competency in imaging technology and a large audience and resources that can... 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Nikons operating performance free resources to assist you with your university studies that are favourable and/or,... To various commercial and end-user markets talent within the firm, enhancing the education the... That can tilt the balance between strengths and weaknesses of organization and threats a. To Albert Humphrey in the technology at the present moment can employ to diversify the risks emerging from weaknesses! Their strengths and weaknesses that are hindering their growth moderate professional photographers who mostly pose their subjects, spectacles. Highest Nikon has expanded geographic presence with focus on developing markets provides expanded revenue stream with reduced business risk with... 2010 ), `` technology Sector analysis ``, Published swot analysis of nikon 2018 be or! Optical components emerging from the macro trends from not only technology industry perspective but a. Mba Pro resources 2022, BCG Matrix / growth share Matrix analysis includes! Will acquire an increase market share nikons operating performance measuring, and to! Core competency in imaging technology and a large customer base in the technology at the moment! And value as a human being critical role in setting and modifying trends in business! Corp. in the market research process to help guide your organization on the to. Stand in the global market is often an enormous opportunity for Nikon, products shall be to! Photo studios have mostly switched to digital format because it also allows for easy processing and manipulation up to on.