Vestas Essay

8091 words - 32 pages

Marketing ManagementProject about "Vestas"What strategies should Vestas use in order to stay the market leader in the future?Class 5x (Group 2)Project authors:Fanyu TangZhangwei ViviPavel ČechMagda RákócziováSatinder Kaur PanciaKarl-Anders TammesTable of contents1. Executive summary 3 2. Introduction 5 3. Problem statement 6 4. Delimitations 7 5. Methods 8 6. Analyses 10 PEST analysis 10 Porter's Five-Forces Analysis 13 Swot analysis 16 4 P's 17 7. Business model 21 8. Supply Chain Management 27 Vestas Strategy 27 9. Benchmarking 32 Analysis of competitors 32 Benchmarking - Vestas vs. Sinovel 34 10. Conclusion 38 11. References 40 12. Content of tables 41 13. Content of figures 42 14. Appendix 43 Executive summaryThis project is about marketing challenges of Vestas. There are many new competitors on the market and Vestas is losing its market share. To find a solution to keep up with the changing market conditions we have used analyses, methods and models to give our professional opinions and suggestions for improvements in the company. Many internal and external analyses were used.Methods, analysis and theories used in the project are as follow:PEST analysisPorter's five forcesSWOT analysis4 P'sBusiness ModelSupply chain analysisAnalysis of competitors and benchmarkingAs the wind power is politically discussed we can see it as an opportunity in big countries and unions as USA and EU .National incentive programs are a good opportunity for Vestas. They are large-scale contracts what could really help the company. In many countries there is a social trend for ecological energy and this could be used to influence governments politically to be economically friendly. Vestas could concentrate on countries that are unable to meet the ecological energy production limits, which could be possible customers in the future.As all the capital and materials are costly they should improve also the financial side. Because there are many new comers on the last few years re-thinking of price-strategy is recommended. Improving relationships with suppliers and making them more cost effective could save a lot of money to company. Benchmarking across suppliers could be an option also.As the contracts are capacious the customers of Vestas are after long term relationship. That's why the sales team should concentrate on creating value and possibly finds alternative ways do demonstrate the efficiency and flexibleness of the company and improve their business with already existing customers.IntroductionThis project is about a Danish company, Vestas, which is the biggest wind turbine producer in the world having their products in 63 countries over all 5 continents. Vestas does not only manufacture the wind turbines but also develops plans, installs and offers maintance.As the oil and gas prices raise and fossil fuels are declining...

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