1. Introduction
Nikon Corporation or as often just referred to as Nikon, is a Japanese transnational company that specializes in optics and imaging products such as still cameras, single-lens reflex cameras, camera lenses, binoculars, microscopes and many more.
The company runs in four sections with one being imaging products, and the rest being precision equipment, instruments, and others (Market Publishers, 2015) The corporation’s headquarters is located in Tokyo, Japan (Nikon Corporation, 2011)
In the year 1917 three leading optical manufacturers joined together and formed a wide-ranging, fully integrated optical corporation called Nippon Kōgaku Tōkyō K.K (Nikon Corporation, 2014). In 1988, the company’s name was changed to Nikon Corporation …show more content…
Almost all smartphones come with built-in camera. Smartphone cameras have the ability to capture photos of decent quality and the quality has slowly improved, however Nikon cameras still produce better quality photos and people interested in taking photos, prefer using Nikon cameras as it provides more memory space to store photographs as compared to smartphones (Business Insider, 2015). Another threat of substitutes is film cameras. Film camera has a lot of disadvantages as compared to today’s digital SLR cameras that companies like Nikon manufacture (PetaPixel, 2015). Users of film camera do not have the luxury of scrolling through their photographs and deleting photos that they dislike immediately, instead they have to patiently wait to process and develop their photographs. This makes film camera a very low threat as it is not a handy gadget for today’s times (PetaPixel, …show more content…
Many consumers are more concerned about the quality of their products and would rather continue purchasing products from a brand they trust and are familiar with, thus staying loyal to Nikon, however there are some customers who would rather choose a product of lesser price and may prefer purchasing products online from people who may be selling the same products at a reduced cost (Entrepreneurial Insights, 2014). This is an issue companies like Nikon should be wary of and why it is important that they sell products at a price that customers would believe is worth paying for and build a good relationship with their consumers (Harvard Business Review, 2008). Despite this, Nikon is a reputable company and will remain a priority to majority of consumers and thus the power of customers is relatively
Nikon Corporation or as often just referred to as Nikon, is a Japanese transnational company that specializes in optics and imaging products such as still cameras, single-lens reflex cameras, camera lenses, binoculars, microscopes and many more.
The company runs in four sections with one being imaging products, and the rest being precision equipment, instruments, and others (Market Publishers, 2015) The corporation’s headquarters is located in Tokyo, Japan (Nikon Corporation, 2011)
In the year 1917 three leading optical manufacturers joined together and formed a wide-ranging, fully integrated optical corporation called Nippon Kōgaku Tōkyō K.K (Nikon Corporation, 2014). In 1988, the company’s name was changed to Nikon Corporation …show more content…
Almost all smartphones come with built-in camera. Smartphone cameras have the ability to capture photos of decent quality and the quality has slowly improved, however Nikon cameras still produce better quality photos and people interested in taking photos, prefer using Nikon cameras as it provides more memory space to store photographs as compared to smartphones (Business Insider, 2015). Another threat of substitutes is film cameras. Film camera has a lot of disadvantages as compared to today’s digital SLR cameras that companies like Nikon manufacture (PetaPixel, 2015). Users of film camera do not have the luxury of scrolling through their photographs and deleting photos that they dislike immediately, instead they have to patiently wait to process and develop their photographs. This makes film camera a very low threat as it is not a handy gadget for today’s times (PetaPixel, …show more content…
Many consumers are more concerned about the quality of their products and would rather continue purchasing products from a brand they trust and are familiar with, thus staying loyal to Nikon, however there are some customers who would rather choose a product of lesser price and may prefer purchasing products online from people who may be selling the same products at a reduced cost (Entrepreneurial Insights, 2014). This is an issue companies like Nikon should be wary of and why it is important that they sell products at a price that customers would believe is worth paying for and build a good relationship with their consumers (Harvard Business Review, 2008). Despite this, Nikon is a reputable company and will remain a priority to majority of consumers and thus the power of customers is relatively