Establish Your Goal. Here are the weaknesses in the Nikon SWOT Analysis: 1. It will provide better clues regarding where customers are going and what trends Nikon Corp. can leverage. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. Performing a SWOT analysis will feel different from anything you've done, so you may feel confused about how to start. Your email address will not be published. It is a useful technique to understand the present Strengths (S), Weakness (W), Opportunities (O) & Threats (T) Fujifilm is facing in its current business environment. - Are there people extremely critical to organization that can tilt the balance between strengths and weaknesses of the company. Below are a set of questions you can ask to get started: Nikon has diversified geographic presence with focus on developing markets provides diversified revenue stream with reduced business risk, 3. Businesses might perform this analysis for a product, team, organization, leadership or other entities. Long term growth prospects for LCD displays and SDLR cameras. industry's competitors - Even though Nikon Corp. is facing downward pressure on profitability, compare to competitors it is still racking in higher profit margins. industry but also in the wider Technology sector. This means that the company is in a strong liquidity status, allowing financial growth plans like market expansion to occur. It helps in identifying core competencies of the firm. Secondly, as a function of becoming the preferred camera, it will acquire an increase market share by 10% by 2013. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Nikon SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. The company performs research on KrF, ArF, F2, EPL, and EUV lithography technology. A SWOT analysis is a technique used to identify strengths, weaknesses, opportunities, and threats for your business or even a specific project. High Quality: It produces some of the highest-quality lenses available. The company was founded in 1964 and became successful just after some years. Support sales activities by understanding your customers' businesses better. Nikon Corp. is involved in the manufacturing and sale of optical instruments. industry. document.getElementById("ak_js_2").setAttribute("value",(new Date()).getTime()); This site uses Akismet to reduce spam. 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. However, foreign exchange risks, intense competition and regulations from RoHS and WEEE could affect its business operations. Threats SWOT Weaknesses. Strengths might include the company's . It has been reviewed & published by the MBA Skool Team. O. E. Williamson, Markets and Hierarchies(New York: Free Press, 1975) is a market leader in console industry where N intendo was once a market . Nikon caters to an honest gamut of customers ranging from amateurs to professional photographers. - Declining per unit revenue for Nikon Corp. - competitiveness in the Scientific & Technical Instr. 2. Amsterdam Area. Revenue SWOT ANALYSIS Strengths. This can be possible with the use of digital marketing. SWOT Analysis - A detailed analysis of the company's strengths, weakness, opportunities and threats. While the Production Technology division is focused on product engineering and production strategies, it has its own Production Technology division. The Essay Writing ExpertsUK Essay Experts. 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%. 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. Here are the top 10 of its positive features to benefit your company. This growth is reflected in the accompanying chart and graph. Nikon Inc. is a company that manages a group of related businesses which are mostly associated with photography or equipment. Nikons strong in-house research & development (R&D), facilities are well supported. The increasing demand for high-end camera phones and their networking integration facilitates the easy sharing of photos. The consent submitted will only be used for data processing originating from this website. 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 . Furthermore, Nikon publishes a range of information regarding its products on its website. Intense competition in the digital cameras market can reduce market share of Nikon. 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. Ask questions. Nikon is one of the leading brands in the consumer electronics sector. Thus, they cannot satisfy a market that may give them volumes but instead have to specialize in value. As we know most people nowadays are using online platforms, thus it is essential for every business to grow digitally. Nikon already features a strong research team working in this domain and can use this opportunity to its advantage. SWOT analysis is a technique developed at Stanford in the 1970s, frequently used in strategic planning.SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats and is a structured planning method that evaluates those four elements of an organization, project or business venture.A SWOT analysis is a simple, but powerful, framework for leveraging the organization's strengths . The increase in competition and changing industry trends create a threat to the growth of Nikon. The best way to begin your SWOT analysis is by asking yourself questions and being entirely honest about the answers. 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. 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. According to Datamonitor (2008), the company also accounted for 25% of the instrument products sales and 27% in the precision equipment sector. This is because of the political stability of these countries. Assess Nikon Corporation as a prospective partner, vendor or supplier. All these are already being provided by Nikon on their websites. A SWOT analysis is an essential tool that can allow companies to evaluate the different components of the business. Having a goal will help you choose what's relevant to include in your analysis. In the case of Nikon, embracing in e-business strategy has already started but still the resistance to change needs to be addressed. The company operates as a subsidiary of Nikon Corp. digitGaps report on Nikon Research . 2. Reducing semi-conductor market capital spending. 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. In this manner, the different risks shall be considered prior to implementing the changes drastically. Key Highlights A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. SWOT analysis is a decision matrix used by individuals or organizations to identify possible courses of action. Learn how your comment data is processed. The Precision Equipment segment includes products and services that are related to integrated circuits and liquid crystal display steppers. The uses of photography have expanded as well because of Web pages on the Internet andemail. Hence the strategic marketing of Nikon is based on core competences of the company. These customers are often either novices or professional photographers. 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. A SWOT analysis can be used at any step of a business plan to organize thoughts, improve discussions, and better understand goals, but it is highly recommended to use one during any project or policy discussion's planning stage. This has been witnessed by the elimination of traditional film camera to the latest SLDR camera. Strong research and development capabilities facilitate new product development in line with changing consumer preference, 4. In order to integrate the social/cultural external forces, Nikon has started manufacturing cameras which are more affordable to the mass population. MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. From start-ups to market leaders, uncover what they do andhow they do it. Benefits/Features Analysis. The threats for any business can be factors which can negatively impact its business. Required fields are marked *. Nikon Corp. (7731) is listed on Tokyo stock exchange. It has also made collaboration with HP for the development of new technological digital imaging system since 2005. Business is my passion and i have established myself in multiple industries with a focus on sustainable growth. It has business operations in the Americas, Europe, Asia-Pacific, and Oceania. In SWOT Analysis of Nikon, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. Competition with black market, parallel import and fake goods, 4. SWOT Analysis also helps a corporation or a brand to strategize consistently with the factors affecting its growth. SWOT helps Nikon Corp. managers to identify areas of weakness in operations in the organization. SWOT analysis provides key insights into both internal and external factors that can impact the performance of an organization. Builds organization's strengths. Do you have a 2:1 degree or higher? SWOT Analysis (short for strengths, weaknesses, opportunities, threats) is a business strategy tool to assess how an organization compares to its competition. Our rates are comparable to theirs, but we add value through personal contact and easy dissemination of digital images. December, 2021 Study for free with our range of university lectures! Strong . However, it lacks in improving its marketing with time. 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. Ourtarget market is families of college-educated people who are most likely to be professionals. To understand that we have given an In-Depth SWOT Analysis of Nikon. The core competencies usually relate to the capabilities of the firm, enhancing its competitiveness in the market it serves. This will primarily focus on the first half of the analysis, but the second half can help you avoid pitfalls while you get your offerings and services set up. No plagiarism, guaranteed! - Trade Relation between US and China can affect Nikon Corp. growth plans - This can lead to full scale trade war which can hamper the potential of Nikon Corp. to expand operations in China. It also includes a column for measuring the significance of each item in your SWOT categories. 3D Scanning Market Analysis 2023, Growth (CAGR of 8.55%), Cost Module, Top Leaders And Forecast By 2028 by AB Digital, Inc. April 17, 2023 3:40 PM | 5 min read segment. 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.. You will generally find me online at the Marketing91 Academy. The SWOT analysis for Canon is presented below in a matrix followed by a detailed analysis report: Strengths. apr. If your specific country is not listed, please select the UK version of the site, as this is best suited to international visitors. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. Nikons biggest strength lies within the main target they have on their core competency which is expertise in imaging technologies. It identifies the internal and external factors which may . 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. Since women make most of the purchasing decisions in families,our specific target marketis middle-aged professional women in the Eugene-Springfield metropolitan area,roughly 19,554 people. 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. SWOT Analysis of Nikon: Strengths of Nikon 1. Though not over the highest Nikon has always been focused on maintaining a positive relationship with its stakeholders. It also works on future technologies. We're here to answer any questions you have about our services. In FY2019, the company spent JPY62.424 million on R&D initiatives, compared to JPY58.655 million for FY2018. These professionals have families, too. 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. The world has become increasingly digital, but many professional photo studios have made it difficult for people to enter the digital age. - Increasing government regulations are making it difficult for un-organized players to operate in the Scientific & Technical Instr. The companies are not associated with MBA Skool in any way.Edit the brand or add a new one to SWOT Analysis section : Contribute. If you like to read such detailed analyses of companies, find more such insightful case studies on our IIDE Knowledge portal. 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. Increasing appeal of high end camera phones and their social networking integration facilitating easy sharing of photos, 3. *You can also browse our support articles here >. Families have photos taken to preserve memories. SWOT Analysis helps in strategic planning in following manner-. Nikon has shown strong monetary performances during the previous years. Nikon Research Corporation of America (NRCA) undertakes research and development activities for integrated circuit (IC) and liquid crystal display (LCD) related equipments. Nikon established an R&D division. They always look at issues and try to solve them but when it comes to really und . Menyusun analisis SWOT adalah proses yang berat, memakan waktu, dan rawan subyektivitas dari penyusunnya. While many of them may have the means for professional photos, relatively few will use them. This can lead to a time based SWOT analysis exercise where Nikon Corp. leaders conduct SWOT at a fixed interval and assess what it needs to tinker to achieve the stated goals. Assessing feasibility of the new initiative in United States 4. Dedicated to your worth and value as a human being! SWOT Analysis of Nikon SWOT analysis is a technique for assessing four aspects of a business - strengths, weaknesses, opportunities, and threats. Here we will be doing an In-Depth SWOT Analysis of Nikon. This relieved the customers of any special permits that they might need for buying a camera. 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. Regions where political stability is not appropriate, there will be greater risks to enter new market places. 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. These were in the turnover ration of 3%, 3.4% and 3.7% in the years 2006, 2007 and 2008 respectively. Here's a detailed breakdown of Nike SWOT analysis. The website provides a platform for users 7 days a week 24 hours a day. SWOT analysis is a technique for assessing four aspects of a business strengths, weaknesses, opportunities, and threats. Most of these photos are low quality but no one cares because only the family views them. The range of camera produced by this company since its existence is included in Appendix 1. This has caused a negative image of the corporate amongst its customers. 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. Some of the key weaknesses of Nikon are: Opportunities refer to those avenues in the environment that surrounds the business on which it can capitalize to increase its returns. Nikon Swot Analysis: Company: Nikon CEO: Toshikazu Umatate Year founded: July 25, 1917 Head quarter: Tokyo, Japan. The intellectual property rights framework is not very strong in emerging markets especially in China. The SWOT analysis is a fundamental component in business planning because it's an effective tool for: Providing a systematic way of identifying internal and external factors affecting business Giving companies insight as to where to focus growth efforts Presenting businesses a solid foundation on which to develop new business strategies Comment * document.getElementById("comment").setAttribute( "id", "aa5b51e122b2411a1bfde4ca21f91bbd" );document.getElementById("i2e65971ac").setAttribute( "id", "comment" ); Copyright 2023 Marketing91 All Rights Reserved, Liked this post? This good financial position also creates confidence in its potential investors. Here we will be doing an In-Depth SWOT Analysis of Nikon. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. In the first instance it will focus to make this new camera the preferred brand of 18-50 years professional photographers in Japan by year 2012. One way to do this is to consider how your company's strengths, weaknesses, opportunities, and threats overlap with each other. 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. Strong Peripheral support with a strong experience. There is no legal requirement regarding purchase of a digital camera on the worldwide market. Even cell phones have digital cameras on them. In 2008, it entered a cross licensing agreement with Microsoft for the development of its products. Nikon has been able to gain such large success in its industry with its remarkable marketing strategies. Stay up to date on Nikon Corporation's business structure, strategy and prospects. Therefore, the SMART objective will be rather a tactical decision making. Effective integration of digital platforms like social networking sites in its marketing efforts has helped attract larger target audience, 5. Strengths are defined as what each business does best in its gamut of operations which can give it an upper hand over its competitors.   Hey there! It can lead to higher salaries to maintain the talent within the firm. They have been less amenable to making digital files affordably available to clients, and this is a trend on which we intend to capitalize. 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. 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 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%). High quality of product 2. Nikon being a dependent on semi-conductor market, can be affected by this reduced capital spending of semi conductor market. It also offers space-related products, glass, encoders and ophthalmic lenses. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis Enhanced SWOT Analysis (+ US$ 75.00) PESTEL Analysis (+ US$ 150.00) IFE, EFE, IE Matrices (+ US$ 125.00) Porter Five Forces Analysis (+ US$ 75.00) VRIO Analysis (+ US$ 175.00) Special Bundle, including all types of analyses (+ US$ 500.00) 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. As most people use digital platforms it is easy for the business to target its customers. This opportunity shall be important for Nikon to remain as market leader in this product segment. Nikon Corp (Nikon) offers optical instruments to various commercial and end-user markets. SWOT analysis is a vital strategic planning tool that can be used by Fujifilm managers to do a situational analysis of the organization . The new product will be a digital single lens reflex camera with added functionalities compared to the latest proposed by its competitor Canon. 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. Sony produces products for its consumers (B2B) and other businesses (B2C) as well. High market potential for optical technologies 2. The companys high market occupancy is therefore a competitive advantage, allowing it to capture more market grounds. 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. A starting guide to manage this situation for companyname is objectively assessing the present value propositions of the various products. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Nikon will have to ensure that the product is delivered on time to the right customer. 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. - First mover advantage in the increasingly crowded market place. But before we start with its SWOT Analysis let us learn about Nikon as a Company, its products, competitors, financials, and more. For example, look at the strengths you identified, and then come up with ways to use those strengths to maximize the opportunities (these are strength-opportunity strategies . Digital images are needed for printing uses as well, for such uses as brochures and business cards. Reverse its weaknesses. The most competitors for Nikon are Canon, Casio, Kodak, Panasonic, and Olympus. SWOT Analysis also helps a corporation or a brand to strategize consistently with the factors affecting its growth. It is an essential practice for revealing the internal and external constraints that affect a business' performance and growth. They are the ones most likely to have a need for professional photo portraits for career purposes. The demand for LCD screens is expected to grow in the long term. - Increasing customer base in lower segments - As customers have to migrate from un-organized operators in the Technology industry to licensed players. industry. E-Promotion strategy will have to include banner promotions, web public relations and E-leaflets. Weaknesses in The SWOT analysis of Nikon Weaknesses are used to refer to areas where the business or the brand needs improvement. Moreover Nikon being already in alliance with UPS Supply Chain will continue to focus on global logistics for competitive advantage. Analyzing the macro trends from not only Technology industry perspective but from a more holistic perspective. Nikon has expanded geographic presence with focus on developing markets provides expanded revenue stream with reduced business risk. It is facing stiff challenges from international and local competitors. Koyata Iwasaki founded the company on July 25, 1917. 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. SWOT ANALYSIS STRENGTH 1. 2022 - heden1 jaar 1 maand. These technologies help to improve image quality and reduce camera shake. SWOT analysis of Nikon Corp can be done for the following purposes - 1. The companys R&D division is also specialized in the Imaging Business Unit. The firm now has retail locations in over 170 countries . Sony is a well-known global consumer electronics brand from Japan, with a reputation for cutting-edge technology, innovative digital concepts, and superior after-sales support. Their employees have the required core skills and each department has the competencies. Exceeding expectations. Furthermore, Nikon is improving on processes that will keep their survival in a constantly changing market. The Eugene-Springfield metropolitan areahas atotal populationof 330,527. 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. It has always been a strong engineering company which has the high focus on research. This SWOT matrix template provides the basic 2x2 layout for an easy-to-read view of your analysis. If you are curious about learning what digital marketing is and how to use it to your advantage check out our, Free MasterClass on Digital Marketing 101. by the CEO and Founder of IIDE, Karan Shah. It has an imbalance between engineering and customer feedback and its low ethics are some weaknesses in the market. There are several steps you'll want to take when evaluating your business and conducting a strategic SWOT analysis.

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