TITLE: Vestas Marketing Context Evaluation & Key Marketing Strategies
Vestas is ‘the energy industry’s global partner on sustainable energy solutions’. The company designs, manufactures, installs, and services wind turbines across the world. With wind turbines in 80 countries, Vestas aims to be the ‘Global Leader in Sustainable Energy Solutions’.
Using industry-leading smart data capabilities, Vesta utilises data to interpret, forecast, and maximise wind resources and deliver ‘best-in-class wind power solutions’. With over 25,000 employees, Vestas works with its customers to provide the world with sustainable energy solutions to ‘power a bright future’.
Source : https://www.vestas.com/en/about
You are required to analyse and evaluate key aspects of the strategic marketing context in order to determine and critically evaluate specific Strategic Marketing strategies which are essential to Vestas’ success.
By building on your understanding of strategic marketing theory and undertaking secondary research into the company, market, and sector, you are required to analyse the strategic marketing context in order to determine which marketing strategies are most suitable to meet future challenges and evaluate how they need to be applied.
To underpin your analysis, you must APPLY selected elements of strategic marketing theory covered in this module (You must NOT use general models, such as PESTLE, 5-Forces, SWOT, VRIO).
You must determine which are critically important to the company’s current situation and its future challenges and focus on and apply them.
Models and Strategies mentioned in class: Porter’s value chain model, Resource Audit, BCG Matrix, Ansoff Matrix, Wheelen and Hunger directional strategies, Disruption model of innovation, Drucker&Maciarello.
• Apply appropriate strategic marketing theory and models (You must NOT use general models such as PESTLE, 5-Forces, SWOT, VRIO) to examine the company & the market using suitable academic articles and texts.
• Apply appropriate strategic marketing theory, concepts and models to determine the key strategic marketing options for the company in the future in light of the challenges faced, using suitable academic articles and texts and secondary evidence.
• Undertake in-depth research using suitable secondary sources (non-academic)
• Use key marketing concepts, models and terms, referring to relevant academic reading on strategic marketing.
• Submit as a written report – in report format (see advised structure below)
• Word count is 3,000 words
NOTE that these are NOT suggested headings/sub-headings
Please see the required structure as to how to lay out your work
The first part of this report (33%) consists of a situational analysis focusing on in-depth examination and evaluation of critical areas in its marketing context.
You must undertake*:
– External Contextual Factor Analysis –
• Research into the key external factors impacting on this sector, market and company in order to identify ONE or TWO of the most salient factors for in depth analysis and evaluation.
• You must include a one-page table evidencing and evaluating key points from the external environment and evaluate their importance (evidence-based, researched & sourced; refined, concise & bullet-pointed information). This must be referred to in the body.
• You MUST use and reference key marketing concepts, models and terms from relevant academic reading.
– Critical Market Context Analysis
– Please Note – the key external factors from the above section MUST be considered as part of the Critical Marketing Context Analysis
• Directly relating to the key points examined in the previous section, you should examine and evaluate specific areas of the market context directly impacted by these factors.
• You must select and focus on ONE of the following:
– The Competitive Context, climate, and clusters; key competitors, their strategies, competitor profiling, and/or competitive positioning
– Critical Customer Analysis, customer value (sought), customer behaviour, changes and trends, key customer segments, and the most critical factors.
-Critical Strategic Collaboration, key collaborators, relationships, dynamics & challenges
• You must use and reference key marketing concepts, models and terms from relevant academic reading.
• You MUST include a one-page table containing evidence and evaluation (evidence-based, researched & sourced from secondary research; refined, concise & bullet-pointed information).
This must be referred to in the body.
• It is suggested that the first part of the report is around 1,000 words (approximately)
Tables do NOT contribute to the word count
The second part of the report focuses on the company and requires an indepth examination and evaluation of the company (34%).
Please Note – the key external factors and key points from the Critical Marketing Context Analysis MUST be considered as part of the Critical Company Analysis and Evaluation
Critical Company Analysis and Evaluation –
• With specific regard to the previous sections, you must:
• Examine and evaluate the Vestas’ marketing resources, capabilities and assets by applying the Hooley et al.’s Marketing Resources, Marketing Assets and Dynamic Marketing Capabilities (2017, pp.137-153)1
-You must include an accompanying, complementary one-page table comparing evidencing and evaluating the company’s marketing resources, capabilities and assets (evidence-based; researched & sourced; refined, concise & bullet-pointed information). This must be referred to in the body.
Also consider the most critically important and pertinent resources, capabilities and assets in its other business areas (e.g. Financial, Human, Physical, etc.) and how they impact upon marketing strategies.
Evaluate the company’s competitive advantage and competitive positioning (as a result of the analysis in the preceding sections).
You MUST use and reference key marketing concepts, models and terms from relevant academic reading.
It is suggested that the second part of the report is around 1,000 words (approximately) Tables do NOT contribute to the word count
The third part of this report (33%), requires you to determine and evaluate the most appropriate strategic marketing options that the company should focus on in order to successfully navigate the challenges faced in the immediate future (rising from the first two parts of the report).
– Determination and Evaluation of the Critical Strategic Marketing Approaches
Please Note – the key points from the external context analysis, the Critical Marketing Context Analysis and the Critical Company Analysis and Evaluation MUST be considered when determining and evaluating the strategic marketing options
Following the previous analysis, you MUST:
• Examine and evaluate the strategic marketing options for future success in response to the evaluation in the first two parts of the report.
• Assess Vestas’ directional and /or growth strategies & competitive positioning
• Determine and justify the relevant strategic marketing approaches and options regarding TWO chosen topics from the module*, justifying their importance to the success of the company • Demonstrate understanding of the challenges facing the company, based on your analysis in the first part of the report.
• Explain how the company must approach and optimise these strategies (using supporting evidence (regarding your TWO chosen topics)
• Consider how these two options would be approached, implemented, and evaluated
• *Select from TWO of the module’s key topics AS MOST CRTICAL to future success – these may include the following:
– Value-Driven Strategies
– Innovation Strategies
-International Marketing Strategies
-Social & Ethical Strategies
– Service Strategies
• You must include a one-page table for EACH key topic demonstrating your suggested options and how these would be applied, deployed AND evaluated (referencing academic reading; sourced secondary research; refined, concise & points/information) o tables must be referred to in the body. • You MUST use and reference key marketing concepts, models and terms from relevant academic reading.
• It is suggested that this section is around 1,000 words (approximately)
Tables do NOT contribute to the word count
-You MUST REFER to suitable theoretical concepts, models and terms from academic marketing reading to underpin your discussion:
• You must refer to appropriate academic articles and texts relating to strategic marketing and your chosen topics
• You must focus on strategic marketing theory, concepts, and models (and reference these accordingly)
– Please note – the Marketing Mix is NOT suitable at this level or relevant to this work
• Please note – this is NOT a Corporate/strategic management assignment
– You must NOT use general models, such as PESTLE, 5-Forces, SWOT, VRIO
– You MUST use tables and appendices to demonstrate your application of the key academic themes/theory to the (secondary) case evidence to support your work.
• VERY IMPORTANT – Tables and Appendices MUST be used effectively to demonstrate your evidence and evaluation.
– You MUST refer to these in the body of your report
– Tables must include concise, refined and bullet-pointed information (NOT extensive passages of content/text)
– Tables must NOT be longer than a single page (if over a page, only the first page will be considered by the marker
– Appendices must be important and concise (NOT extensive content taken from the body)
Required Report Structure
You are strongly advised to use the following structure –
2.0 Analysis of the Strategic Marketing Context
– 2.1 Key Contextual Factor Analysis and Evaluation
– 2.2 ONE of the following: – Competitor & Competitive Context Analysis and Evaluation – Customer Analysis and Evaluation – Strategic Collaboration Analysis and Evaluation
3.0 Company Analysis and Evaluation
– 3.1 Marketing Resources and Capabilities
– 3.2 Analysis of Marketing Assets
– 3.3 Critical Resources and Capabilities (Non-Marketing)
– 3.4 Competitive Advantage and Competitive Positioning
4.0 Determination and Evaluation of the Critical Strategic Marketing Approaches
– 4.1 Value-Driven Strategy (for example – Topic 1)
– 4.2 Innovation Strategies (for example – Topic 2)
5.0 Conclusion Note – Recommendations are NOT required
– These must be labelled/numbered, titled, and sourced
– Each appendix MUST referred to in the body References list (Must be Harvard Referenced)
These must be laid out as follows:
The following learning outcomes will be tested in this assessment:
1. Critical understanding of advanced marketing strategy and its significance in variety of contexts (global and local)
2. Assessment of the drivers affecting choice and implementation of marketing strategy
3. Evaluation and application of appropriate theories and models underpinning the strategic marketing process in an organisation
4. Evaluation of strategic options and planning of effective strategic marketing programmes for survival and sustenance of different organisations (public sector and private sector)
5. The ability to develop appropriate research and analytical skills
6. Creative, innovative, critical thinking and effective communication of complex ideas
TITLE: Vestas Marketing Context Evaluation & Key Marketing Strategies