As a part of its global expansion plans, Nikon established its UK (United Kingdom) office in the year 1979 at Surrey. This was also seen as a precautionary move to establish its presence in the European market and check the growth of its competitors (like Kodak and Fuji) in these markets. Since its inception, Nikon has showcased tremendous growth in the UK (United Kingdom market) and has outshone its competitors in almost all the major segments.
According to the latest reports, Nikon ranks third in the digital camera market with an overall market share of 12.6 percent. Nikon has also shown remarkable improvement in the sales of photolithographic lens where it has occupied 29.8 percent of the market. The consolidated sales of the digital cameras have increased by 0.5 percent (from 16.4 percent the last year to 16.9 percent this year). In terms of the units sold, it has increased to 6.21 million units in the early half of 2011. At roughly put figure of one percent, the company has recorded the highest shipment growth rate among all the other big players.
The profits of the UK (United Kingdom) of Nikon have grown by 0.6 percent to 64.3 billion yen (653.7 million US dollars), up 4.73 percent compared to the last fiscal. The sales of the lens grew 17.5 percent (it registered an increase from 1.67 million units to 2.29 million units). The overall sale of the compact cameras also showed an increase with a jump of 23.9 percent when compared to the last fiscal. The share prices of the Nikon had almost catapulted after the announcement of its entry into the mirror less market. This is the only area in which Nikon has been lagging behind.
Nikon has resorted to very aggressive marketing to sell its product in UK (United Kingdom and the European Market). Nikon has been relying on the generic strategies of product differentiation and cost leader ship. It has also been an innovator in the niche market segments by introducing the idea of photolithographic lenses. The pricing strategy used by Nikon has been the competitor based pricing. All the products are priced similarly to the closest competitor and the reference value of the product is surmised as the selling proposition. By doing this, Nikon wants to invoke the reference buyer effect, thereby boosting the sales.
Thus, it can be said that with the slew of new products up its sleeve and the innovative marketing strategies: Nikon would be a force to reckon with in the UK market for years to come.
[...] The Nikon Group's business is also threatened by a number of future factors. • In the semiconductor industry has experienced some amount of easing in the recent years resulting to a greater variety in finished products. This may result to a risk that in conditions of oversupply of semiconductor devices the requirement for steppers as well as scanners may decline because the semiconductor manufacturing companies may cut back the capital expenditures, creating a consequent raise in inventories. • Although the digital camera market is showing a steady rise, there are still potential risks of fluctuations which may result in a declined requirement for digital cameras. [...]
[...] Nikon, is still moving ahead with its corporate philosophy “Trustworthiness and Creativity”. Source: Nikon corporation annual report 2012 Source: Nikon corporation annual report 2012 Ø Historical and Strategic Developments: The company was established in the year 1917 on the 25 July 1917. However initially it was named Nippon Kōgaku Kōgyō Kabushikigaisha (meaning "Japan Optical Industries Co., Ltd."). later in the year 1988, the company adopted its present name Nikon Corporation, after its cameras. It is one of the Mitsubishi Group of companies. [...]
[...] As planned the first television ad was aired all over UK in the Easter weekend, April 2010. It was also premeditated that the campaign will be published and aired on television channels, print media as well as through online promotion. An out-and-out website and social media platforms to promote communication with the customers was also put forward. The advertisement was created by Jung von Matt/Spree and it was the first one to be produced by them after being appointed as Nikon Europe's advertising agency in the year 2009. [...]
[...] With this aim in mind the Nikon Group came up with its Nikon Basic Environmental Management Policy in the year 1992, which was again revised in the year 2002. This policy was formulated to assist the company in attaining its aim of standing out as an environment-friendly company, which is conscious about the environment and can attain business growth without harming the environment. According to this policy, the company performs effectual environmental preservation works with the aid of its environmental management sectors . [...]
[...] To be precise the functioning of the company can be divided into four different parts. The first is the Precision Equipment segment which manufactures semiconductor exposure apparatus as well as liquid crystal exposure apparatus. The second is the Image segment which makes digital single-lens reflex (SLR) cameras, compact digital cameras as well as interchangeable lens. The third is the Instruments segment which deals in measuring machines, microscopes as well as semiconductor inspection equipment and the fourth segment manufactures LC photomask substrates as well as optical components. [...]
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