Case 1: Nordex AG in:

Svend Hollensen, Marc Oliver Opresnik

Marketing, page 48 - 57

A Relationship Perspective

1. Edition 2010, ISBN print: 978-3-8006-3722-5, ISBN online: 978-3-8006-4870-2,

Bibliographic information
1. Fundamentals of Relationship Marketing34 Case 1 Nordex AG The German wind turbine manufacturer seeks new business opportunities in • the world market Wind energy, as a power generation technology, greatly aids in offsetting carbon (CO) emissions from burning of 2 fossil fuels for electricity generation. The 122 Giga Watt (GW) (122,000 MW) of global wind capacity, installed by the end of 2008 will produce 260 terawatt hours (TWh) of electricity and save 158 million tonnes of CO every year. (Source: Global 2 Wind 2008 Report: GWEC). Wind energy has become increasingly cost-competitive when compared with conventional modes of power generation, with improvements in efficiency and increased scale of both turbine sizes and project capacities. It also is one of the most promising sources of energy. Critical in terms of the global resource availability vs. installed base, availability of capital equipment and manpower, and employment generation potential. Even a single Nordex multi-megawatt turbine can supply enough energy to cover the requirements of up to 3,000 four person households. Once in operation, each wind turbine provides clean energy for around 20 years. Nordex AG Nordex was founded in 1985 in Give, Denmark. The two founders were Carsten and Jens Pedersen of Thyregod, only a few kilometres from ‘BONUS Capital’ Brande. In 2000 they moved their headquarters to Germany and became Nordex A.G. and launched their IPO in 2001. Today, their primary production facilities are in Rostock, Germany, and they also have manufacturing joint ventures in China. Nordex produces around 20 % of its wind power turbines in its own facilities. As a system integrator, it sources around 80 % of the components from its suppliers with whom it develops the necessary system components on the basis of its own specifications in close consultation. With an export ratio of more than 90 per cent, Nordex occupies a strong international position, particularly in the growth regions of the world. For instance, in Great Britain Nordex has a market share of about 30 per cent and in France of around 20 per cent. Nordex is also one of the largest project developers in France. Worldwide, the company has offices and subsidiaries in 18 countries, employing around 2,200 people (beginning of 2010). The group holding company is based in Germany, running three operative units: Nordex Europe, Nordex North America and Nordex China. Nordex has already established production facilities in the key markets of Europe and China; the first turbines are due for production in the USA from 2010. The location of the new factory is Jonesboro, Arkansas. Kapitel_1.indd 34 03.08.2010 12:45:34 Uhr Case 1 35 The European factory is in Rostock, Germany. Here Nordex builds the nacelle with the electronic and control technology. The company has produced rotor blades for its turbines since 2002 and is currently investing in an extensive factory overhaul. In China, Nordex opened a new production line for large-scale turbines in 2006 (Yinchuan), and in 2007 a rotor blade factory followed (Dongying). Nordex is currently undertaking a massive expansion of its assembly capacities in the People’s Republic. The production sites in China and the USA ensure that Nordex can meet the rapidly increasing demand, particularly in these markets. With the aim of qualify ing employees for assignment around the world, the company has established its own training centre, the Nordex Academy, in Rerik on the Baltic Sea. Nordex has set high technological standards since its foundation in Give (Denmark) in 1985. In 2000 the company installed the first 2.5 megawatt turbine in the world. Nordex has a crucial advantage over most of its international competitors in terms of experience of operating large-scale turbines. The Nordex Group covers the whole technical valued-added chain with its products and services, from identification of suitable sites to wind farm system planning to the technical implementation of the wind farm. Even after construction of the turbines is completed, Nordex continues to support its customers. The company offers a customized service for all of its wind turbines, which ensures the trouble-free operation of the machines on a worldwide basis. In beginning of 2010, 4,077 Nordex turbines with an installed nominal output of more than 5.67 GW are in operation. Of the total number of employees (by Dec. 31, 2008) 36 % were in the Production department, 20 % in Service department, 13 % in Central Engineering, 13 % in Project management, 12 % in Administration, 3 % in Sales and 3 % in Purchasing. The average installed output per Nordex turbine assembled has risen from 2.15 MW in April 2008 to a 2010 figure of 2.24 MW, up from 1.82 MW in 2006. This reflects the strong demand for multi-megawatt turbines, particularly the N80, the N90 and N100, over the past few years. To date, Nordex has assembled 1,216 of these turbines around the world. In some markets, Nordex operates further upstream, e.g. in wind farm planning. Nordex engages in project business in conjunction with local partners in France, Poland and Scandinavia. It also offers turn-key project management solutions. In this case, the customer receives not only the wind farm but also all the infrastructure EUR (€) 2006 (million €) 2007 (million €) 2008 (million €) Net turnover 513.6 747.5 1,135.7 Net profit (after tax) 16.6 40.1 63.0 Number of employees (end of year) 814 1,304 1,835 Source: Nordex financial reports Table 1: Nordex’s financial development from 2006 to 2008 Kapitel_1.indd 35 03.08.2010 12:45:34 Uhr 1. Fundamentals of Relationship Marketing36 required to feed the electricity produced into the high-voltage grid. As a service provider, Nordex offers extensive after-sales service for a period of up to 12 years. The global wind turbine market The year 2008 was another record year for the industry, with global annual installations growing by 36 % to over 28,500 Mega Watts (MW) (see Table 2). The global installed wind power capacity grew by 28 % to reach 122,000 MW, making wind power one of the fastest growing sources of utility-scale electricity generation. This reflects a huge and growing global demand for emissions-free, sustainable and local sources of power generation. In 2008, Nordex was ranked in 10th place for worldwide wind turbine sales, holding a 3 % global share (BTM Consult ApS) of the wind turbine market. Most noticeably, during 2008, United States surpassed Germany to become the number one wind power market in terms of annual installations, with 8.5 GW installed during the year. China continued to grow with its total capacity doubling for the fourth year in a row, with 12.2 GW installed against 5.9 GW installed till end-2007. Europe, North America and Asia are continuing to drive global wind development, with new installations in 2008 majorly distributed between them. By 2012 it is expected that annual new installations will grow from today’s level of 28,500 MW to 51,000 MW. In Asia, strong growth is expected in China and India. Cumulative annual growth rate for new installations up to 2012 are expected to be 16 % in these two countries. The Chinese wind turbine market Seeking to rein in its emissions of greenhouse gases, China is on an ambitious spending spree in wind power. The government is working on plans to shell out 1 trillion yuan ($146 billion) to build seven massive wind farms with a combined capacity of more than 120,000 MW, roughly equal to the world’s total installed wind power plants last year. The world’s largest producer of carbon emissions has been doubling its wind power capacity every year since 2006; it was the world’s second-largest buyer of wind turbines in 2008. Yet, about 30 % of its wind power assets are not in use – much of that not even connected to the transmission grid – a result of Chinese power companies turning to wind as the cheapest, easiest way to satisfy on paper government requirements to boost renewable energy capacity. Whether the massive new building push will be any more efficient is an open question, given that much of it is slated for out of the way places, mainly in the north, making it uneconomical to Kapitel_1.indd 36 03.08.2010 12:45:34 Uhr Case 1 37 Top world wind turbine markets Installations of MW % distribution (2008) Accumulated MW Installations % distribution (2008) USA 31 % 26 % China 23 % 15 % India 7 % 6 % Germany 6 % 15 % Spain 6 % 8 % Italy 4 % 4 % France 3 % 3 % UK 3 % 4 % Portugal 3 % 2 % Canada 2 % 2 % Rest of the World 12 % 15 % Total 100 % 100 % Total MW 28,500 MW 122,000 MW Table 3: Top world wind turbine markets & Accumulated installations Manufacturer Country Market share (%) – 2008 11. Vestas Denmark 19 % 12. GE Wind USA 18 % 13. Gamesa Spain 12 % 14. Enercon Germany 10 % 15. Suzlon India 9 % 16. Siemens Germany/Denmark 6 % 17. Sionvel China 5 % 18. Acciona Spain 4 % 19. Goldwind China 4 % 10. Nordex Germany 3 % 11. Repower Germany 3 % 12. Others - 7 % Total 100 % Total installed MW 28,500 MW Accumulated total installed MW 122,000 MW Source: Adapted from BTM Consult Table 2: Market shares of major World Turbine manufacturers Kapitel_1.indd 37 03.08.2010 12:45:34 Uhr 1. Fundamentals of Relationship Marketing38 build the lengthy extensions to China’s grid that would be required to transmit the power to distant population centres. China has been actively developing wind energy over the past three years. The country added 6,555 MW of capacity in 2008, in the process becoming the world’s second-biggest wind turbine buyer behind the U.S. and the world’s fourth-biggest producer of wind power after the U.S., Germany and Spain, according to the annual report of the World Wind Energy Association. Citigroup estimates China’s wind power capacity could easily grow to 130,000 MW by 2020. Development of wind turbine sizes In many geographic areas even 2 MW turbines are considered big turbines, and it causes problems, but we have never seen a company downsizing and optimizing their old 750 kW and 1 MW turbines to produce cheap and efficient turbines. The average turbine installed in China last year was 1 MW, which was largely due to the fact that the majority of the Chinese manufacturers are making 750 kW turbines. Nevertheless, they are progressing very fast in China and within a few years the average size will be 1.5 MW. There will be a market for huge 5 MW to 10 MW turbines dedicated to offshore (in the sea). Offshore is still a niche market which in 2007 represented 1 % of the world market and in 2008 will perhaps reach 1.5 %. A five year forecast at a world level states that offshore wind will represent 4.5 % to 5 % of the market. This means that the number of turbines produced for offshore in the future will never be a huge number, and therefore will not benefit from the economies of scaled enjoyed by smaller turbines. At the same time there will be a market for wind farms utilizing 2 MW to 3 MW turbines, and there will be a market for 1 MW turbines, which will be a big market in the future. So there will be two or three different levels, and there will be manufacturers that will focus on one or several of the segments. Questions 1. What are the key long term drivers for the world wind power industry 2. What are the key drivers for the B2B relationships in the wind power industry (seen from the Nordex perspective)? 3. Which screening criteria should Nordex use for selecting new markets to focus on? 4. How should Nordex cope with the competitive threat from Chinese wind turbine manufacturers? Sources: Kapitel_1.indd 38 03.08.2010 12:45:34 Uhr References 39 References Ackhoff, R. I. 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(1944) Some Applications of the Continuous Consumer Panel, Journal of Marketing, Vol. 9, (October), pp. 132-136 Kapitel_1.indd 42 03.08.2010 12:45:34 Uhr 2Learning Objectives After studying this chapter you should be able to: explain the different concepts that underlie internal marketing strate-• gies generate options to break down functional barriers (e.g. between mar-• keting and human resource management) describe the difference between Market Orientation View (MOV) and • the Resource Based View (RBV) discuss the connection between MOV/RBV and Market Driven/Mar-• ket Driving explain the ‘Competitive Triangle’• describe and discuss the drivers for customers’ ‘perceived value’ and • ‘relative costs’ explain the elements in the PEST analysis• discuss the focal company’s relationships to the different actors in the • value net understand how the company can establish relationships to competi-• tors define the dimensions of consumer buying behaviour• compare the differences in evaluation of high- versus low-involvement • situations describe the nature of choice criteria and their implications• discuss how B2B customers make purchase decisions• explain the influences on organisational buying behaviour• explain how a SWOT analysis can capitalize on a company’s internal • and external issues understand the reasons for matching strengths and opportunities and • converting weaknesses and threats discuss the importance of doing some research as the basis for SWOT • analysis 2. Situational Analysis in the Marketing Planning Process Kapitel_2.indd 43 03.08.2010 12:46:28 Uhr

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Marketing – A Relationship Perspective

Moderne Grundlange zum Marketing

Das Lehrbuch behandelt eines der wichtigsten und aktuellsten Themenfelder des modernen Marketings. Der Ansatz verbindet dabei den klassischen Ansatz der strategischen Marketingplanung und seiner Instrumente mit dem neuen Ansatz des Relationship Marketing. Der ganzheitliche Ansatz des Buches umfasst dabei die aktuellen Marketing-Grundlagen, Praxisbeispiele sowie anwendungsorientierte Fallstudien und eignet sich somit ideal sowohl für Manager und Entscheidungsträger im Marketing-Bereich, Studenten in Bachelor- und Materstudiengängen sowie Dozenten und Trainer.