Lincoln Electric

Lincoln Electric

Question 1

International Business Marketing

In essence, the strategy desires to be developed from the perspective of the provide chain. Lincoln Electric's perspective of networks is similar to the Japanese concept of Keiretsu. However, the culture of business in Japan is very different from most other economies with respect to the relationships between firms and networks and they are therefore likely to operate somewhat differently in Western cultures. Network marketing is examined in a book of readings edited by  (Caruso, 1992, pp. 21-32 ) The collected works in the Iacobucci text focus on defining the concept of networks, describing various network examples, and providing methodological devices for doing research on networks (Cateora, 1993, pp. 47-87) .

The international aspects of business marketing have a fairly extensive research history. Research in this locality can be grouped into five categories: exporting, international strategy, countertrade, specific country or locality studies, and marketing functions. As a mode of application, exporting and expanding in different countries have considered the easiest way to get into international markets; hence, it is not surprising that this locality has been examined in some detail. An early article by Ellis, (1995, pp. 44-74)  empirically documented basic expanding strategies in business markets with consider to distribution channels and colleague choices.

 Higher Profits

Expanding and going into different countries it is often difficult to increase prices for the whole shipping market. Nevertheless, it is possible to develop premium segments in which customers accept a higher price level. Such segments could be distinguished from the mass market by characteristics like additional services, product variations and the like. A typical segment-based price variation is by region.

 

Opportunities for Growth

Targeted marketing designs for particular segments allow to individually approach customer groups that otherwise would look out for specialized niche players.Lincoln Electric's by segmenting markets, organizations can create their own 'niche products' and therefore attract additional customer groups. Moreover, a segmentation strategy that is founded on customer loyalty offers the chance to attract new customers with starter products and to move these customers on to premium products.

 

Higher Market Shares

In contrast to an undifferentiated marketing strategy, Lincoln Electric's segmentation supports the development of niche strategies. Thus marketing activities can be aimed at at highly attractive market segments in the beginning. Market leadership in selected segments improves the competitive position of the whole organization in its relationship with suppliers, channel partners and customers. It reinforces the emblem and double-checks profitability. On that basis, organizations have better chances to increase their market portions in the overall market. Market segmentation is not without its limitations.

Environmental Analyses

The political factors PEST looks at include government stability, taxation policy, foreign trade regulations and social welfare policies. Foreign trade regulations in particular are important for an organisation planning on opening up in a different country or trading with a different country as their regulations may differ from those the organisation currently employs. Economical factors include business cycles, interest rates, money provide, inflation, unemployment and disposable income. An organisation planning on breaking into a new market would be ...