From start-ups to market leaders, uncover what they do andhow they do it. Here's a detailed breakdown of Nike SWOT analysis. Some of the competitors for Nikon include matrix metering and color recognition, optical VR, processing chain bandwidth amongst others. Weaknesses in The SWOT analysis of Nikon Weaknesses are used to refer to areas where the business or the brand needs improvement. People who have not completed college are assumed to be more likely to be employees or be in a trade. SWOT Analysis helps in strategic planning in following manner-. Therefore, the SMART objective will be rather a tactical decision making. Nikon will have to ensure that the product is delivered on time to the right customer. The strengths of Nikon looks at the key aspects of its business which gives it competitive advantage in the market. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. Instances of alleged violation of competition laws incurred penalties and hurt the brand image of Nikon a few times. Actually, Nikon is present in Europe, America and Japan. Nikon D5200 Analysis Showcase your creative vision with the new Nikon D5200 that comes with a 24.1 megapixel DX-format sensor a sensitivity range from ISO 100 to ISO 6400 and the best in class 39-point AF system to deliver high image quality and bring alive some of the spectacular photos and videos. Direct competitors for Nikon in the imaging products are Sony, Canon, Panasonic, Samsung, Olympus and Kodak. - Increasing government regulations are making it difficult for un-organized players to operate in the Scientific & Technical Instr. Please email for detail SWOT Matrix based on the Weighted SWOT Analysis of Nikon Corp. 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. Nikon has invested massively in R&D activities. 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. It can be used to both assist with planning and as a way to quickly . Even cell phones have digital cameras on them. They have been less amenable to making digital files affordably available to clients, and this is a trend on which we intend to capitalize. A SWOT analysis is a technique that is used in strategic planning. 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. 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. 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%). (Kassaye, 2001). The office will be located in Eugene, but clients are accessible throughout Lane County through physicians offices. Thus digital marketing is important for every business. Nikon Corp. (7731) is listed on Tokyo stock exchange. Competition with black market, parallel import and fake goods, 4. Advanced Technologies: Its lenses are known for their advanced technologies, such as vibration Reduction (VR) and Silent Wave motors (SWM). Business is my passion and i have established myself in multiple industries with a focus on sustainable growth. 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. The content on MBA Skool has been created for educational & academic purpose only. In SWOT Analysis of Nikon, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. Learning about the SWOT analysis model allows you to decide whether the tool can help you conduct a proper analysis of the business. There is no legal requirement regarding purchase of a digital camera on the worldwide market. February 25, 2019 By Hitesh Bhasin Filed Under: SWOT of Brands. 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. According to Datamonitor (2008), the company also accounted for 25% of the instrument products sales and 27% in the precision equipment sector. Hence in the manufacture of its products, health and safety procedures are adhered to. 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. From the above, Nikons core competencies drives it towards a more efficient company and offers advantages to the market places it occupies. In a SWOT analysis, a project's (or product's) strengths and weaknesses are internal factors. Information and Communications Technology. Required fields are marked *. As most people use digital platforms it is easy for the business to target its customers. 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 . In this article, we define what SWOT analysis is, discuss the SWOT analysis tool and highlight . 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 . It has its core competency in imaging technology and a large customer base in the market. During the past years, the world incurred an economic slowdown due to the U.S financial crisis. 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. Strong . Theyare more likely to use home-made photographs, except for rare occasions, such as a high school photo or wedding. The uses of photography have expanded as well because of Web pages on the Internet andemail. 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. 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. Exceeding expectations. Furthermore, Nikon is improving on processes that will keep their survival in a constantly changing market. These were in the turnover ration of 3%, 3.4% and 3.7% in the years 2006, 2007 and 2008 respectively. That can be extremely expensive. Therefore this could create a threat to Nikon, reducing the growth of its share in camera market. Thus digital marketing is important for every business. 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. Intense competition in the digital cameras market 2. 3.1. | Published by: MarketLine Businesses might perform this analysis for a product, team, organization, leadership or other entities. The strategy is historically credited to Albert Humphrey in the 1960s, but this attribution remains debatable. Furthermore, Nikon has invested massively in research and development in order to have a competitive advantage in the imaging industry. Source: EdrawMax. Nikons biggest strength lies within the main target they have on their core competency which is expertise in imaging technologies. 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. Management information systems, Brand Style Guide: Definition, Importance and Examples. Accordingly, having hign inventories in a market where the trend of price is declining will affect Nikons operating performance. This will definitely enhance the marketing strategies that Nikon has adopted for the international market. Strong workforce 3. The consent submitted will only be used for data processing originating from this website. 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. NRCA is headquartered in Belmont, California. 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 . - Market Leadership Position - Nikon Corp. has a strong market leadership position in the Scientific & Technical Instr. Nikon Europe. This has been witnessed by the elimination of traditional film camera to the latest SLDR camera. Additionally, in terms of social awareness, Nikon is already working on CSR to promote its brand. 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. - Declining per unit revenue for Nikon Corp. - competitiveness in the Scientific & Technical Instr. Imaging Products manufactures and sells imaging products, and peripherals, such as compact digital cameras, digital single-lens reflex cameras, interchangeable lens cameras, and compact digital cameras. *You can also browse our support articles here >. It has an imbalance between engineering and customer feedback and its low ethics are some weaknesses in the market. Learn how to effectively navigate the market research process to help guide your organization on the journey to success. Having a goal will help you choose what's relevant to include in your analysis. SWOT stands for strengths, weaknesses, opportunities, and threats. Nikon has faced severe allegations for violation of competition laws that they have even been penalized and fined. Threats SWOT Weaknesses. Nikon has expanded geographic presence with focus on developing markets provides expanded revenue stream with reduced business risk. Below are the Strengths in the SWOT Analysis of Nikon : 1. The range of camera produced by this company since its existence is included in Appendix 1. 2. Sony offers its two types of customers. These are families who are generally without the means to hire professional photographers on a regular basis. Comprehensive Marketing Mix of Netflix With Full Company Overview, Dominos Marketing Strategy A Detailed Case Study, Top 7 Digital Marketing Strategies of FMCGs in India, Post Graduation in Digital Marketing (11 months), Online Digital Marketing Course (4 months). Of competition laws that they have on their core competency in imaging technologies Bhasin Filed Under SWOT. Employees or be in a trade - Increasing government regulations are making it difficult for un-organized to... The market places it occupies processes that will keep their survival in a constantly changing market, but clients accessible! Hence in the market a high school photo or wedding from this website your analysis digital. 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