Nikon is amongst the pioneers of the optical and camera manufacturing market and has been around since the 1910s. Their technology is undeniably one of the best, allowing consumers to experience fast speed and sharp photography. Nikon however, is not the first brand that most consumers will think of when considering the purchase of a camera.
History of Nikon
The brand Nikon was given to small sized cameras in 1946 after the World War II by the company Nippon Kogaku KK, which was formed by the merging of Three Japanese leading optical manufactures in 1917. In 1948, the world’s first Nikon camera was manufactured and since then, they have been continuously advancing their technology in camera making catering to consumers from armatures to hobbyists.
Mission and values of the company, “At the Heart of the Image”
“For Nikon, there is nothing more compelling than the potential of the image to express the riches of human experience. Our heartfelt desire is to continue to explore this potential. At Nikon, we consciously strive to refine our sensibilities. This process is the key to creating new value for the image - and the secret to inspiring you to realize all the aspirations of your heart.” (http://imaging.nikon.com/products/imaging/technology/brand/index.htm). As we can see from their mission statement, Nikon firmly believes in the technology they create and wants to allow their users to experience the essence of every picture taken. As important as it is for a camera to have a good foundation of technology behind it, it is also important for the brand to build its image and to be able to communicate their message and beliefs to the consumers in the market.
Nikon’s Marketing Strategy
Nikon has an estimated market share of 33%, number 2 to their competitor and market leader Cannon who has a market share of 45%. Their reason for lagging…...