Beachhead market selection for a renewable energy technology company

Company X is a young company specializing in ocean renewable energy. Their technology involves converting ocean energy into energy used for generating electricity or pumping water, among other applications. Company X is entering undeveloped markets where there are no commercially proven technologies. Hence, market selection for launching their first product is integral to the success of their technology and their business. This report evaluates five markets identified by Company X as having potential as a strategic first market, or beachhead market. A strategic market selection process, utilizing the balanced scorecard, is conducted to select those markets with most potential as a beachhead. From the balanced scorecard selection process, three markets were selected as having greater potential than the others. Further analysis of these three markets was conducted, to identify customer-preferred product features and assess issues related to technology adoption. From this analysis, recommendations are made for Company X's market strategy.