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Lincoln Electrics which is into the business of wielding and consumables has following strategy:-
Innovative and advanced technological Development: - As Lincoln electric is in the business of wielding and consumables thus advancements and regular innovation is needed in order to keep the customers satisfied and match there changing nexus, thus Lincoln electrics spends 2% of its annual sales for regular research and development, so as to be innovative and meet the competitors with better and more useful product and services. The example of Lincoln innovative nature is evident from the fact that Lincoln had gained more than 50% of the annual sales in 2005 from the wielding machines introduced within five years.
Innovative Product Line: - Lincoln electric has an innovative product line as it tends to offer a complete wielding solution to the consumers and not merely machines or tools. Lincoln manufactures both arc wielding equipment’s used for mere wielding and consumable products thereby sell more to the same customer as a package. Thus cross selling has been a keen product mix policy taken up by Lincoln electrics.
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