NRCA is headquartered in Belmont, California. Furthermore, Nikon has invested massively in research and development in order to have a competitive advantage in the imaging industry. Even with such advantages, it has some flaws in the market which affect its growth. In 2008, it entered a cross licensing agreement with Microsoft for the development of its products. 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. 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. Your email address will not be published. It has an imbalance between engineering and customer feedback and its low ethics are some weaknesses in the market. Competition with black market, parallel import and fake goods, 4. 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. Using the SMART concept as described by Westwood (2005), Nikon will be able to control its marketing plan for this new product, improve organisational capabilities and provide overall functional target for the coming years. (Kassaye, 2001). 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. The term SWOT is an acronym for these four factors. A SWOT analysis is a way to evaluate strengths, weaknesses, opportunities and threats. The strengths of Nikon looks at the key aspects of its business which gives it competitive advantage in the market. The Industrial Metrology and Others segment cover glass, ophthalmic lenses, multi-turn absolute encoders, customized products, and other materials. This opportunity shall be important for Nikon to remain as market leader in this product segment. Nikon Swot Analysis: Company: Nikon CEO: Toshikazu Umatate Year founded: July 25, 1917 Head quarter: Tokyo, Japan. segment. As a developer of LCD steppers and scanners, the company will be in a situation where manufacturing of multi-lens projection optical system, requiring an adaptor for larger glass plates, will not be a problem. Dedicated to your worth and value as a human being! Your email address will not be published. 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. The primary. The website provides a platform for users 7 days a week 24 hours a day. To conclude, it is vital to consider that e-marketing mix should be dependent on each other for an online marketing strategy. All members Japanese male 2. SWOT analysis of Nikon Corp can be done for the following purposes - 1. Nikon Corporation 2013 within the SWOT analysis faced multiple problems. Increasing appeal of high end camera phones and their social networking integration facilitating easy sharing of photos, 3. Nikon has the best cameras in the market that suit everyday use. As most people use digital platforms it is easy for the business to target its customers. Strengths are the firm's capabilities and resources that it can use to design, develop, and sustain competitive advantage in the marketplace. Having a goal will help you choose what's relevant to include in your analysis. It identifies the internal and external factors which may . Stay up to date on Nikon Corporation's business structure, strategy and prospects. 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. Information and Communications Technology. 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. The company has played a critical role in setting and modifying trends in the photographic industry. *You can also browse our support articles here >. The companys high market occupancy is therefore a competitive advantage, allowing it to capture more market grounds. The increasing demand for high-end camera phones and their networking integration facilitates the easy sharing of photos. - Defining what skills are essential for the survival of the Nikon Corp. in Scientific & Technical Instr. 2. 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. 3.1. Key competitors - A list of key competitors to the company. Nikon Corp. (7731) is listed on Tokyo stock exchange. It also offers space-related products, glass, encoders and ophthalmic lenses. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Strengths are the factors that make Nikon stand out from the competitors in the market. Making a Scientific & Technical Instr. On the other hand, well-established political legislation enhances the standard of living in these countries. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. 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. industry. E-Promotion strategy will have to include banner promotions, web public relations and E-leaflets. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Thus this makes us keen to know how Nikon has maintained a stable position in the market. In this manner, the different risks shall be considered prior to implementing the changes drastically. They always check out issues and check out to unravel them but when it involves understanding the customer needs Nikon may be a failure. Some of the competitors for Nikon include matrix metering and color recognition, optical VR, processing chain bandwidth amongst others.   Hey there! 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. For Nikon XD, the effect of E-Place will not be critical since it targets high-end consumers in countries where internet accessibility is available. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. 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. - 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. Thus, they cannot satisfy a market that may give them volumes but instead have to specialize in value. Furthermore, Nikon publishes a range of information regarding its products on its website. As a result, a lot of memories are lost and ancient portraits of professionals continue to be hung on walls and portrayed in publications. Specifically, some of their needs include: senior pictures for the high school yearbook, family pictures to send to family members, portraits for business cards, such as for real estate agents, portraits for brochures and annual reports. With these collaborations between different companies, Nikon is working on deriving synergies between different businesses. TOOLS Nikon Canon (SWOT) focusing in developing its market in the Aim to achieve the No. Any Areas Universal Method The Possibility of a Comprehensive Assessment Objectivity Information Base Identifying Factors Profitability The Ability to Improve Key Success Factors 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. Direct competitors for Nikon in the imaging products are Sony, Canon, Panasonic, Samsung, Olympus and Kodak. The market capital for semi conductors is expected to decrease by 22%. It has always been a strong engineering company which has the high focus on research. Builds organization's strengths. 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. More innovative product offerings for the customers. In this application, Nikon manufactures microscopes and other products for use in the biomedical field. Since 90 years, the company has been continuously improving photography, imaging and the optics industry towards the demand requirements of their customers. (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. Effective integration of digital platforms like social networking sites in its marketing efforts has helped attract larger target audience, 5. Strategists at Nikon Corp. can utilize SWOT for following objectives -. SWOT helps Nikon Corp. managers to identify areas of weakness in operations in the organization. The company is headquartered in Tokyo, Japan and manufactures and sells imaging products, precision equipment, and instruments. Hence in the manufacture of its products, health and safety procedures are adhered to. It is facing stiff challenges from international and local competitors. 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