Abstract
Wello Ltd has recently changed their business strategy from selling and constructing the Penguin wave energy converter to selling their digital product, Penguin Core. Thus, the objective of the thesis was to examine what their stakeholders’ requirements, needs and concerns were regarding Wello’s wave energy technology products and services.
Renewable energy technologies, such as wave power and other low-CO2 technologies, are great ways to impact positively on the climate change. When operating in a new market area with a new technology, such as wave power, understanding the stakeholders’ needs is necessary. Wave energy has globally a massive potential, and with Wello’s wave energy technology, this potential could be tapped. The data for the study was collected with an electronic stakeholder survey. The stakeholders included site developers, off-shore operators, shipyards, utility companies and consultation companies. The survey questions were created in cooperation with Wello’s staff, and they focused on the stakeholders’ requirements, needs and concerns. The stakeholder survey was sent via email because the stakeholders were geographically dispersed. The research data was analysed with qualitative methods with some quantitative aspects.
According to the results, changing Wello’s business strategy was a correct solution. Increasing cooperation with local business partners would make the sales process more convenient for the stakeholders. In marketing, Wello should promote the possibility to affect the climate change through positive actions and long-term business opportunities.