Marketing Section A. Lincoln Electric Term Paper

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This requires talented employees and excellent management of them. At this time, judging from the mission statement and case study, it looks like Lincoln is more focused on its global presence and product innovation as well as diversification. These three elements work well together and bring the company into the 21st century. By employing new technologies not only to product development but also to communications, allows the company to exist and grow over the miles. Without clear objectives, it can be difficult to lead and produce. Still Lincoln is pursuing the acquisition and joint ventures to allow their product a global presence without setting up the company for too much risk. These ventures also serve as investments and although require some risk will payoff over the long run.

Lincoln has pursued a global strategy of acquisition and joint venture to better its global identity. At the same time, it has positioned itself to take advantage of technologies so that it can better design new products and produce them efficiently across the global.

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By doing this, the company takes advantage of local resources such as labor and facilities. This can cut costs and production time comparatively with U.S. factories. Meanwhile also the company conveys its core values into these locations, bettering the natives socially and economically. This strategy is being used more and more by large companies throughout the world mainly because the global marketplace has become so much smaller due to telecommunications and information accessibility and a rise in consumer income. What has changed from the 1980s is that the consumer is more knowledgeable and picky of the quality of product. Because they do have more money to spend, they are more careful. Company strategy has had to change to meet this need for global presence to stay alive. The company does this by establishing locations worldwide but also using technologies to their advantage. This may include having a web site and 24/7 customer service. It is expected in today's market that the company make….....

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"Marketing Section A Lincoln Electric" (2005, January 29) Retrieved July 5, 2025, from
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