Nikon – History, Brand Value, and Brand Strategies

When we speak of stunning images and optics, only one brand comes to our mind – Nikon! For every camera and lens fanatic, Nikon is a wholesome brand that delivers what they expect out of their lens and cameras.

The brand’s popularity in the global market is huge, and the demand is ever-increasing. They are known as the eye of the camera market globally, and this is truly a huge feat that this company has achieved. Let’s delve deeper into the brand and know more about it- 

Nikon history 

Nikon was born in the year 1917. Nippon Kogaku K.K. was formed in alliance with the Optical Instruments Department of Tokyo and the Reflecting Mirror Department of Iwaki Glass manufacturing. This was the company that later came to be known as Nikon.

Right from 1917 till 1933, when it released its first photographic lens, the company solely focused on research and development of optical glass and also microscopes, binoculars, telescopes, and other such instruments. 

“Nikkor” Brand name

“Nikko” was the company name abbreviation, and “R” was the suffix added to all the photographic lenses the company produced at that time. This is why NIKKOR was adopted as the name for the company’s lenses, and also the name was trademarked in the same year.

Aero-NIKKOR was the first lens under the brand name produced by the company, and also it was the first lens designed by the company for aerial photography. 

It was in the year 1946 that the company started to be known by the brand name Nikon rather than Nippon Kogaku K.K. “Nikon Model I” was the first camera launched by the company under its new brand name. The name was given to keep it different from other cameras from of Nippon Kogaku K.K. brand. 

Startling facts! 

The Auto NIKKOR telephoto zoom 8.5cm-25cm f/4-4.5 was released by the company in 1959, and it was also the world’s first Telephoto Zoom lens! Subsequently, the company came up with a range of Ultra Micro NIKKOR lenses, and it took the market by storm because it offered the highest resolution of any optical lens during that period of time.

Whether the world’s first Extra-Low Dispersion Lens in 1972 or the World’s first Wide-Angle Zoom lens in 1975, Nikon has been leading the revolution all this time! 

Nikon Brand Value 

Nikon, as a brand, constantly endeavors toward giving to society and adding value with its innovation and creation. They believe in unlocking the future with the power of light! In the year 2018, their fiscal performance dropped by more than ¥30.0 than their aggregate in 2017.

This was due to a drop in the demand for optical and imaging products throughout the globe. In this period of time, they stepped into phase 2 of their fiscal year and created a new testament for better profit making and increased sales. 

As per estimates by Forbes, the company has around $10B in revenue, Assets worth $9.1B, and profits of around $487.9 M. Though they faced a drop in the year 2015, the makers and innovators were back on track in a year or so with their new offerings that distinguished the brand in the market from the others.

The brand value is further on the rise as they are taking up the use of AI in their products, and it will definitely change the way imaging and optics has worked till now! Expanding business in this field will mean more profit and brand value in the days to come.

Nikon Brand strategies

Segmentation

High-quality lenses, optical instruments, and cameras are the forte of Nikon. The major division in which Nikon works is Photography. They have tactfully segmented their demography according to age, salary, interests, and mentality of people. There are three primary age groups that Nikon targets –

  • 18-35 years
  • 36-45 years
  • Above 45 years of age

As per these groups, they pick the first group and target the cheap variants of their products. The age group between 18-35 years isn’t willing to pay a lot, so Nikon comes up with cheaper variants for them.

They make expensive sales by targeting professional photographers who buy all the equipment and tools just to get the perfect shot on the camera. 

Great advertising measures 

The most interesting thing about the advertisements of Nikon is that they aren’t focused on promoting their products. Rather they share what their customers did with the product. Using user-generated content has been the key to success for Nikon advertising.

They have a website called KeyMission, which asks users to upload their videos and creations that can be used in advertisements. This is a method of co-creation! 

Their presence on Instagram is amazingly managed. They have multiple accounts throughout the globe, and they have influencers who manage these accounts. The versatile features of the camera and the high-quality output are brilliantly displayed on Instagram.

They have also associated with some of the best photographers globally and assigned them the role of brand ambassadors. 

The new Nikon symbol is a branding masterstroke.

The company has revamped the brand symbol of Nikon in order to aesthetically express their attitude toward the new era of photography. The use of the color black in the logotype showcases the brand’s identity. On the other hand, the use of yellow symbolizes constant light. The use of yellow color informs the world that Nikon constantly commits to innovation with light. 

Celebrity endorsements 

Nikon has literally left no stone unturned when it comes to promoting its products. They have roped in stars like Priyanka Chopra and Aston Kutcher to add a vibe of freshness to their marketing campaigns.

The best part is that they do not leave any marketing channel blank, and they put up their ads almost everywhere, such as visual and print media, digital media, newspapers, hoardings, and even on television and YouTube ads! 

Customer Incentives 

Nikon knows how to keep their prospects excited! In periodic intervals, they come up with amazing offers such as bundle packages, cashback, or extended warranties. These attract a lot of customers and also help in retaining their present set of customers.

They have been good with the branding as well as we can see various major sports events being sponsored by the brand quite often. They are also the official camera of the Disneyland Resort and the Walt Disney World Resort since the year 2013. 

When it comes to cameras and lenses, Nikon is a top-of-the-mind recall brand. This is solely due to the active branding and extensive branding strategies. In the coming days, the camera market is all set to grow further, and sooner or later, we might well see Nikon come up with its own mobile photography lens!   

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