SWOT analysis is a vital strategic planning tool that can be used by Fujifilm managers to do a situational analysis of the 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. 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 Drucker (1973), the corporate objectives of an organisation should include the following eight items: Regarding Nikon, the corporate objectives are in line to that specified by Drucker (1973) as it covers all the eight items. In a SWOT analysis, a project's (or product's) strengths and weaknesses are internal factors. We and our partners use cookies to Store and/or access information on a device. - Provide proper weightage to the various factors that drive Nikon Corp. topline and bottomline growth. Nikon has the best cameras in the market that suit everyday use. - Market Leadership Position - Nikon Corp. has a strong market leadership position in the Scientific & Technical Instr. A SWOT analysis is a planning framework that a business can use to identify a strategic endeavor's strengths, weaknesses, opportunities, and threats. The SWOT analysis for Canon is presented below in a matrix followed by a detailed analysis report: Strengths. Following are some of the products that Nikon provides: Nikon has to face large competition in its industry to retain its position in the market. SWOT analysis (strengths, weaknesses, opportunities and threats analysis) is a framework for identifying and analyzing the internal and external factors that can have an impact on the viability of a project, product, place or person. 1. It has an imbalance between engineering and customer feedback and its low ethics are some weaknesses in the market. It can happen to Nikon Corp. in the Technology at the present moment. According to Datamonitor (2010), social responsibility in these countries is developing very fast, enhancing the education of the population. Digital images are needed for printing uses as well, for such uses as brochures and business cards. This is primarily driven by emerging market and increase in household income levels. It has an imbalance between engineering and customer feedback and its low ethics are some weaknesses in the market. 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. Expert Answer. 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. Benefits/Features Analysis. However, it lacks in improving its marketing with time. Exceeding expectations. Furthermore, Nikon is improving on processes that will keep their survival in a constantly changing market. Learn how to effectively navigate the market research process to help guide your organization on the journey to success. Leveraging brand recognition in new segments. While many of them may have the means for professional photos, relatively few will use them. SWOT analysis is a decision matrix used by individuals or organizations to identify possible courses of action. A SWOT diagram analyzes a project or business venture by focusing on each of these . Nikon Corp. That can be extremely expensive. Dedicated to your worth and value as a human being! Instead, start by downloading a free, editable template from HubSpot. Following are the opportunities in Nikon SWOT Analysis: 1. Furthermore, Nikon has invested massively in research and development in order to have a competitive advantage in the imaging industry. is a market leader in console industry where N intendo was once a market . But SWOT analysis gives you the power to not only deep into what makes you unique as a photographer, but also how to position yourself in such a loud market. Having a goal will help you choose what's relevant to include in your analysis. SWOT analysis of Nikon Corp. can be done for the following purposes - 1. The term SWOT is an acronym for these four factors. - Declining per unit revenue for Nikon Corp. - competitiveness in the Scientific & Technical Instr. Check out these detailed articles on. 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. Strengths might include the company's . It has helped the company to rapidly scale new products successes. - Talent management at Nikon Corp. and skill development of the employees - Human resources are integral to the success of Nikon Corp. in Scientific & Technical Instr. Therefore this could create a threat to Nikon, reducing the growth of its share in camera market. Expanding presence in the global market can be a big opportunity for Nikon, 3. In fact, they find it a burdensome expense, have not established a relationship with a photographer and dont think often about going to one. Dependence on particular products and businesses. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. Business is my passion and i have established myself in multiple industries with a focus on sustainable growth. Ourtarget market is families of college-educated people who are most likely to be professionals. A SWOT analysis is a technique used to identify strengths, weaknesses, opportunities, and threats for your business or even a specific project. Key Highlights Nikon will have to ensure that the product is delivered on time to the right customer. Some of the competitors for Nikon include matrix metering and color recognition, optical VR, processing chain bandwidth amongst others. The table below shows the strengths, weaknesses, Economy of sales in terms of promotional campaigns, Good quality products at affordable prices. The new product will be a digital single lens reflex camera with added functionalities compared to the latest proposed by its competitor Canon. The Essay Writing ExpertsUK Essay Experts. Amsterdam Area. This relieved the customers of any special permits that they might need for buying a camera. The increasing demand for high-end camera phones and their networking integration facilitates the easy sharing of photos. 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. SWOT Analysis also helps a corporation or a brand to strategize consistently with the factors affecting its growth. Koyata Iwasaki founded the company on July 25, 1917. Additionally, in terms of social awareness, Nikon is already working on CSR to promote its brand. 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,. In our previous blog, we did a Detailed SWOT Analysis of Kodak. This is the population most likely to order professional photos on a regular basis, having both the means and thedesire for professional quality photographs. They are also most likely to have the means and taste to want professional photos for their families, as well. Non-core activities are thus being divested as they do not provide any competitive advantage to Nikon. Thus, they cannot satisfy a market that may give them volumes but instead have to specialize in value. 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. He has been a guest speaker at prominent colleges in India including IIMs[Read full bio], Your email address will not be published. Long term growth prospects for LCD displays and SDLR cameras. If you find this case study helpful, consider leaving a comment below. It has its core competency in imaging technology and a large customer base in the market. Dependence on particular products and businesses.   Hey there! Nikon Corp (7731) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company's businesses and operations. | Published by: MarketLine 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 . 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. 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 firm now has retail locations in over 170 countries . 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. 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. This has been witnessed by the elimination of traditional film camera to the latest SLDR camera. It is a source of information for strategic planning. Investing into R&D to thwart Technology industry disruptors. . Here are the top 10 of its positive features to benefit your company. Data from their annual report indicates increasing cash and declining debt. Strategists at Nikon Corp. can utilize SWOT for following objectives -. In the global context, Nikon actually possesses 3 main websites. Often managers neglect trends in macro environment because of the narrow focus on the industry. The new products are rapidly increasing Nikon Corp. market share in the Scientific & Technical Instr. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. For Nikon, this does not constitute a problem as most of its users are professional photographers. The article below lists the Nikon SWOT, competitors and includes its target market, segmentation, positioning & USP. Opportunities in The SWOT analysis of Nikon, SWOT analysis of Aquaguard Aquaguard SWOT analysis, SWOT analysis of Absolut Vodka Absolut SWOT analysis, SWOT analysis of Nivea Nivea SWOT analysis, SWOT analysis of Pantene Pantene SWOT analysis, SWOT analysis of Zara Zara SWOT analysis, SWOT analysis of Duracell Duracell SWOT analysis, SWOT Analysis of Easy Jet Easy Jet SWOT Analysis, SWOT Analysis of Rado Rado SWOT Analysis, SWOT Analysis of Timex Timex Fashion Watch SWOT Analysis, What is MIS? Healthcare products are becoming in demand. The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Improving business portfolio management of Nikon Corp. 3. 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. Some opportunities for Nikon include: Threats are those factors within the environment that may be detrimental to the expansion of the business. Nikon has shown strong monetary performances during the previous years. Reverse its weaknesses. 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. Nikon has faced severe allegations for violation of competition laws that they have even been penalized and fined. It can be used to both assist with planning and as a way to quickly . Weve used education as a measure of social status. 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. The core competencies usually relate to the capabilities of the firm, enhancing its competitiveness in the market it serves. 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. Euromonitor (2018), "Technology Sector Analysis ", Published in 2018. In this article, we define what SWOT analysis is, discuss the SWOT analysis tool and highlight . Thus this makes us keen to know how Nikon has maintained a stable position in the market. The SWOT Framework is also an type of analysis that can be used on evaluating the Marketing mix: 4P's (Product, Price, Place and Promotion), an organization or even persons like team members. More innovative product offerings for the customers. Otherwise, you might end up with a ton of basic information and no idea how to apply it to your business. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. Since 90 years, the company has been continuously improving photography, imaging and the optics industry towards the demand requirements of their customers. PESTEL, a complementary tool to SWOT, expands on the analysis of external context by looking in detail at specific types of issues that frequently have an impact on implementation of project/ initiatives. Industry disruptors industry towards the demand requirements of their customers the right customer stable in. Competency in imaging Technology and a large customer base in the market the... 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