PROJECT REPORT

on
“Detailed study on Analytical Study of Costumer Satisfaction
Towards Volvo Group PVT.Ltd”
Submitted to
Rashtrasant Tukdoji Maharaj
Nagpur University, Nagpur.

In Partial Fulfilment of the requirement of the

"Bachelor of Business Administration”
Submitted by
Aditya dixit
Guidance by
Dr. Sushil Gadekar

Dr. Ambedkar Institute of Management Studies &

Research, Deeksha Bhoomi, Nagpur-440012
2022-2023

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 CERTIFICATE

This is to certify that jainam kamal jain has satisfactorily completed the Project work entitled in
" Detailed study on Analytical Study of Costumer Satisfaction Towards Volvo Group PVT.Ltd "
is not less than one academic session.

This also certify that this project work is the result of the candidate's own work and is of
sufficiently high standard to warrant its presentation for the BBA program.

To the best of my knowledge this project or its part has not been submitted to this university or
any other university for any Degree/Diploma.

Dr. N.M. Kulkarni

Internal Examiner

Place: Nagpur External Examiner

Date:

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 ACKNOWLEDGEMENT

"Words have never expressed human sentiments. This is only an attempt to express

my deep gratitude which comes from my heart."

It is a great pleasure for me to express my deep feeling of gratitude to my

respected

guide Dr. N. M. Kulkarni (Professor & Associate Director, DAIMSR) for his

great encouragement and constant support which provided needed moral and

confidence to carry on.my work.

I am grateful to the Dr. Sudhir.S. Fulzele (Director of Dr. Ambedkar Institute of

Management Studies & Research , Nagpur ) for making all facilities available for

my work.

I am thankful to Dr. Sushil Gadekar (Assistant Professor, DAIMSR) for her valued

guidance and support

I am grateful to my parents for their lovable support. Last but not least I am
thankful

to my friends & other faculty members for their direct & indirect help for
completion

of this work.

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 DECLARATION

I, Aditya Dixit hereby declare that the project entitled “Detailed study on
Analytical Study of Costumer Satisfaction Towards Volvo Group PVT.Ltd.”
is the outcome of my own research work based on personal study during academic
session 2022-2023 and has not been submitted previously for award of any degree
or diploma to this university or nay other university.

Aditya Dixit

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 CHAPTERISATION

Particulars Page no.

Executive Summary 6 to 8

Introduction 9 to 15

Company Profile 16 to 28

Theoritical Perspectives 29 to 37

Research Methedology 38 to 53

Data Analysis And Interpretiton 54 to 55

Findings And Suggestion Findings 56 to 58

Bibliography 59 to 60

Annexure 61 to 64

5|Page
 CHAPTER

INTRODUCTION

Customer satisfaction, a term frequently used in marketing, is a measure of how

products and services supplied by a company meet or surpass customer expectation.

Customer satisfaction is defined as "the number of customers, or percentage of total

customers, whose reported experience with a firm, its products, or its services
(ratings) exceeds specified satisfaction goals."

It is seen as a key performance indicator within business and is often part of a

Balanced Scorebusd. In a competitive marketplace where businesses compete for
customers, customer satisfaction is seen as a key differentiator and increasingly has
become a key element of business strategy.

"Within organizations, customer satisfaction ratings can have powerful effects. They
focus employees on the importance of fulfilling customers‘ expectations.
Furthermore, when these ratings dip, they warn of problems that can affect sales and
profitability.

These metrics quantify an important dynamic. When a brand has loyal customers, it
gains positive word-of-mouth marketing, which is both free and highly effective.
“Therefore, it is essential for businesses to effectively manage customer satisfaction.
To be able do this, firms need reliable and representative measures of satisfaction.

"In researching satisfaction, firms generally ask customers whether their product or
service has met or exceeded expectations. Thus, expectations are a key factor behind
satisfaction. When customers have high expectations and the reality falls short, they
will be disappointed and will likely rate their experience as less than satisfying.

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FEATURES

• Increase Brand Loyalty

Never take your customers for granted.

According to PwC HYPERLINK "https://www.pwc.com/future-of-cx", 59 percent of

U.S. consumers who love a product or brand would ditch it after several poor
experiences. More concerningly, almost one in five would do so after a single bad
experience.

On the flip side, if you do everything in your power to keep customers happy, it
stands to reason they’ll be more likely to stick around for the long term.

• Boost Trust
According to Edelman HYPERLINK "https://www.edelman.com/news-awards/only-
one-third-of-consumers-trust-most-of-the-brands-they-buy", 81 percent of consumers
say brand trust is a deal-breaker or a deciding factor in their purchase decisions.

Yet trust is pretty thin on the ground, with just 34 percent of consumers saying they
trust most of the brands they use or buy from.

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How do you make your brand more trustworthy? One way is to improve satisfaction.
According to a study HYPERLINK
"https://www.researchgate.net/publication/316550167_The_Relationship_between_
Customer_Satisfaction_and_Customer_Trust_on_Customer_Loyalty" from Eastern
University Sri Lanka, customer satisfaction logically precedes customer trust; those
two things rarely exist in isolation.

• Attract Positive Word of Mouth

Word-of-mouth HYPERLINK "https://neilpatel.com/blog/10-ways-to-make-customers-fall-in-
love-with-your-business/" HYPERLINK "https://neilpatel.com/blog/10-ways-to-make-
customers-fall-in-love-with-your-business/"marketing HYPERLINK
"https://neilpatel.com/blog/10-ways-to-make-customers-fall-in-love-with-your-business/" is
extremely valuable.

To give just one example, 87 percent of consumers read online reviews

HYPERLINK "https://www.brightlocal.com/research/local-consumer-review-
survey/" for local businesses in 2020, up from 81 percent in 2019.

Unfortunately, consumers are significantly more likely to share negative reviews

than they are positive ones. According to American Express, U.S. consumers tell an
average of 15 people about bad experiences, whereas they only share good
experiences with 11 people.

In other words, it’s a numbers game. You know consumers are naturally less inclined
to shout about the good stuff you do, but if your customer satisfaction is high, you’re
well placed to reap the benefits of word-of-mouth marketing.

• Grow Your Tataence and Sales

We already know satisfied customers are more likely to tell their friends and family
about your brand, which in turn gets you in front of a wider Tataence.

However, did you know those satisfied customers will also spend more?

8|Page
According to the same American Express survey referenced above, U.S. consumers
are prepared to spend 17 percent more if a brand delivers excellent service.

What’s more, 84 percent of companies that improve customer experience report

HYPERLINK "https://www.prnewswire.com/news-releases/new-research-from-
dimension-data-reveals-uncomfortable-cx-truths-300433878.html" an upturn in
revenue.

ADVANTAGES

Up-to-date feedback: Gather current customer feedback on various aspects of your

company. You can stay on top of customer trends through regularly scheduled online
surveys or email surveys, and receive instant customer feedback. It is always useful
to acquire insight into how your customers are currently reacting to all aspects of
your business.

Benchmark results: You can administer the same survey every so often to customers
to gain continued insight into your customers. Surveys can have the same questions,
which will allow you to compare data over time and benchmark survey data across
previous years to determine if any changes need to be made.

Show that you buse: Customers like to be asked for their feedback. It gives the
customer the perception that your company values them; is committed to keeping
them as a long-term customer; and bases business decisions on their feedback.

9|Page
PROBLEM STATEMENT

Customer satisfactionis one of the most important issues concerning business

organizations of all types, which is justified by the customer orientation Philosophy
and the main principles of continuous improvement of modern enterprises. Customer
is an individual or business that purchases the goods or services produced by a
business. The client is the end goal of businesses, since it is the customer who pays
for supply and creates demand. Businesses often follow the adage that “the customer
is always right” because happy customers will continue to buy goods and services. In
today’s competitive business environment, customer satisfaction is an increasingly
important component of an effective organization.

Customer satisfaction is a key component of a successful and prosperous

organization. It has been linked to higher profit margins and greater employee
satisfaction, customer loyalty, customer retention, and repeat purchases. When
measured in financial terms, it is easy to see why customer satisfaction should
become the foundation to all other measures of business performance. Satisfied
customers will return to buy more, recommend you to others, cost less to sell to, and
cost less to service. In short, organizations that actively manage customer satisfaction
are actively managing their ongoing profitability.

Customer satisfaction is important because it provides marketers and business

owners with a metric that they can use to manage and improve their businesses.
Building customer relationships is one of the customer retention strategies used to
improve customer service and reduce customer churn. The problem is that customer
satisfaction is seldom expressed in financial terms. Many organizations simply
categorize customer satisfaction measurement as a form of “marketing intelligence”
instead of using it as a management tool to build the customer into their quality
improvement processes and increase profit. As a result, companies often know the

10 | P a g e
 cost of providing good service but they rarely know the cost of providing bad
service.

Many market research companies agree that even “satisfied customers” will defect.
Therefore, this study concerns on customer satisfaction to meet customer needs in
order to make customers loyal and retain them for better profit in today’s modern
market within tin

OBJECTIVES

Primary Objective

To study the satisfaction level of the customers of Volvo Group Pvt Ltd.

Secondary Objective
• To find out the major factors that influences the customers while Buying the product.
• To know the customer opinion for a particular product.
• To know the market demand for the product.
• To obtain feedback on the enquiries they get through Promotional strategies.
• To identify the relationship existing between services offered and Level of satisfact

HYPOTHEIS OF THE STUDY:

Hypothesis is a statement of proposed assumption in research. Hypothesis is a

statement which can be proved or disproved. It is a statement capable of being
tested. Hypothesis aids

11 | P a g e
the researcher a great deal while collecting, tabulating and analyzing data and
other relevant information. Hypothesis thus is inevitable in any kind of research, if it
is to be busried out successfully.

Definition:

W. J. Goode and P. K. Hatt: Hypothesis is ‘a proposition which can be put to a test

to determine validity and is useful for further research.’

C. T. Kurein: Hypothesis is ‘a possible explanation of the phenomenon under observation.’

Max Black: Hypothesis is ‘a proposition not known to be definitely true or false,

examined for the sake of determining the consequences which would follow from its
truth.’

(H0): There is no association between gender and overall satisfaction towards

Volvo India pvt ltd.

LIMITATIONS

Expected versus delivered value is being measured – Customer satisfaction is NOT

necessarily a measure of overall value or quality of the firm and its offerings

High Customer Satisfaction scores may be simply a reflection of low expectations of the
firm

High Customer satisfaction scores may not deliver increased profitability (and may
even have a negative financial impact – primarily due to the firm over-delivering
increased customer value)

Existing customers will adjust their expectations to the value regularly being
delivered, resulting in most customers being “just satisfied” (reflected in average, not
high, Customer Satisfaction scores). This means that it is difficult (high effort and
cost) to maintain very high satisfaction scores over a long period of time

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More engaged and involved customers are more likely to participate in optional
market research surveys, such as online surveys, potentially leading to an
overestimation of Customer satisfaction levels

There are better measures available – for the aggregate of factors that customer
satisfaction is suggested to address (which include of loyalty, customer profitability,
likeability of the firm, word-of-mouth potential, and so on).

SCOPE

To study the customer satisfaction and value.

Having high performance of the business.

Attracting and relating customers.

Adding the benefits people satisfaction.

Implementing total quantity management.

13 | P a g e
CHAPTER 2 COMPANY PROFILE

INTRODUCTION OF THE COMPANY:

Name of the company – VOLVO GROUP

The Volvo Group (Swedish: Volvokoncernen; legally Aktiebolaget Volvo, shortened

to AB Volvo, stylized as VOLVO) is a Swedish multinational manufacturing
corporation headquartered in Gothenburg. While its core activity is the production,
distribution and sale of trucks, buses and construction equipment, Volvo also
supplies marine and industrial drive systems and financial services. In 2016, it was
the world’s second largest manufacturer of heavy-duty trucks.

Automobile manufacturer Volvo Bus, also based in Gothenburg, was part of AB

Volvo until 1999, when it was sold to the Ford Motor Company. Since 2010 Volvo
Bus has been owned by the Chinese multinational automotive company Geely
Holding Group. Both AB Volvo and Volvo Bus share the Volvo logo and cooperate
in running the Volvo Museum in Sweden.

The corporation was first listed on the Stockholm Stock Exchange in 1935, and was
on the NASDAQ indices from 1985 to 2007.

Volvo was established in 1915 as a subsidiary of SKF, a ball bearing manufacturer;

however both the Volvo Group and Volvo Bus regard the rollout of the company’s
first bus series, the Volvo ÖV 4, on 14 April 1927, as their beginning.

14 | P a g e
HISTORY

Volvo began as a subsidiary of AB Svenska Kullagerfabriken (SKF), a large Swedish

industrial company. In 1914 Scania Vabis ceased production of what had been
Sweden's only domestically built automobile to concentrate on more profitable
trucks. A year later, with the encouragement of the Swedish Association of
Engineers and Architects, SKF began a confidential study of the feasibility of
manufacturing its own bus. Assar Gabrielsson and Gustav Larson started the project.
Gabrielsson, who had represented SKF in France and the United

States, was a ball bearing salesperson who had closely studied American
automobiles. Larson was an engineer with substantial experience in Britain, having
worked for the English company White & Poppe.

SKF named the secret project Volvo--Latin for "I roll"--a dormant product name the
company had introduced in 1915 for a line of ball bearings. Independently
incorporated in 1915, hence the title aktiebolaget, or "AB," the venture itself was
only informally associated with SKF. The primary owners were Larson and
Gabrielsson.

After agonizing over dozens of designs, the two partners settled on a simple model
that would negotiate Swedish roads, with their snow, mud, steep hills, and millions
of potholes, especially well. The original design, a bus called the GL, or "Larson,"
was assembled at an abandoned SKF ball bearing factory at Hisingen, near Göteborg,
from parts ordered out of various supplier catalogs from throughout Europe and the
United States.

15 | P a g e
The first production model, an öV4, later called the "Jakob," rolled out of the factory
on April 14, 1927. To the horror of all involved, it was discovered that the
differential had been misconnected, resulting in a bus that had three gears in reverse
and only one gear for forward motion. The mistake took only ten minutes to correct
and Volvo survived the comical episode.

With 60 workers turning out five bus a week, the company proceeded with plans to
manufacture a truck. The first truck model, introduced in 1928, was, in fact, from a
design that predated the GL by four months. Volvo trucks, equipped with in-line six-
cylinder engines, became extremely popular. Whereas auto sales remained slow and
their profits only marginal, the truck models consistently sold out. Profits from truck
sales financed the operation for the next 20 years.

Volvo's bus and trucks were extremely sturdy and, by many measures, better
assembled than American and other European models. In what was the most
effective advertising of the day, Volvo models won several speed and endurance
tests, racing across Sweden and speeding from Moscow to Leningrad, and later
winning contests in Monte Buslo and Argentina. Because both Larson and
Gabrielsson detested automobile contests, however, Volvo refused to sponsor racers.

Volvo introduced a six-cylinder model, the PV651, in 1929, which proved highly
successful with the lucrative taxicab market, and a larger version was soon planned.
The following year,

with the introduction of several new models and strong sales, Volvo purchased a
controlling interest in its engine manufacturer, Pentaverken, located in Skövde. The
company also purchased the Hisingen plant from SKF

BOARD OF DIRECTORS

16 | P a g e
The Board of Directors is charged with the organization of the company and
management of the company’s operations. The Board shall also issue guidelines and
instructions to the CEO. In addition, the Board shall ensure that the company’s
organization in respect of accounting, management of funds and the company’s
financial position in general includes satisfactory control.

The Board has adopted work procedures for its internal activities that contain rules
pertaining to the number of Board meetings, matters to be handled at regular
meetings of the Board and duties incumbent on the Chairman.

The Board has also issued written instructions specifying when and how information
required to enable the Board to evaluate the company’s and Group’s financial
position should be reported to the Board, as well as the distribution of duties between
the Board and the CEO.

The duties of the Board are partly exercised through its Tatat Committee,
Remuneration Committee and Technology and Business Transformation Committee.

The external Tatators report their findings to the full Board once a year.

President and Martin Lundstedt

CEO

Group Jan Gurander ,Deputy CEO.

Executive Board

Bruno Blin, Executive Vice President Volvo

Group and President Renault Trucks.

Roger Alm ,Executive Vice President

Volvo Group and President Volvo Trucks.

Sofia Frändberg, Executive Vice

President Group Legal & Compliance

17 | P a g e
 and General
Counsel.
Andrea Fuder ,Executive Vice President
Volvo Group Trucks Purchasing &
Chief Purchasing Officer for Volvo
Group.
Jens Holtinger ,Executive Vice
President Group Trucks Operations

Tina Hultkvist, Executive Vice

President Group Finance and CFO.

Melker Jernberg, Executive Vice President

Volvo Group and President
Volvo Construction Equipment.

Diana Niu, Executive Vice President

Group People & Culture.

Scott Rafkin, Executive Vice President

and Chief Digital Officer for Volvo
Group.
Joachim Rosenberg, Executive Vice President
Volvo Group and President Volvo Energy.
Lars Stenqvist, Executive Vice President
Group Trucks Technology.
Martin Weissburg, Executive Vice
President
Volvo Group and President Mack Trucks.
Kina Wileke
Executive Vice President
Group Communication.

Group Heléne Mellquist, President of Volvo

18 | P a g e
 Penta
Management
since September 2020.
Emmanuel Levacher ,President and CEO
of
ARQUUS since June 2015.
Anna Westerberg ,President of Volvo
Buses
since 2021
Nils Jaeger,President of Volvo
Autonomous
Solutions since 2020.
Marcio Pedroso, Executive Vice President
Volvo Group and President Volvo
Financial Services

PRODUCT PROFILE

Without the type of products and services the Volvo Group provides, the societies in
which many of us live would not function. Like a circulatory system, The trucks,
buses, engines, construction equipment and financial services are involved in many
of the functions that most of us rely on every day.

ON THE ROAD

The products help ensure that you have food on the table, transport to the airport and
newly constructed roads to drive on. Fifteen per cent of all food in Europe is
delivered by a truck from Volvo Group. The trucks also transport furniture, clothing,
sanitary products and computers. These are all products you need in daily life.

The buses transport you quickly to the nearest airport. You can take an intercity bus
to visit relatives or go on holiday in one of The touring coaches. The construction
machinery is used in infrastructure expansion projects, for example for construction
of roads, railways and bridges. In order to ensure that the vehicles stay on the road

19 | P a g e
and continue to operate safely, we help The customers with excellent, quick service
and first-class technical solutions.

Trucks

We have trucks for all types of freight transportation. The heavy-duty trucks haul
goods over long distances, internationally and intercontinentally. The medium-duty
trucks handle deliveries in your local area and The light trucks for urban distribution
deliver goods directly to your local store.The Group has six truck brands: Volvo, UD,
Renault Trucks, Mack, Eicher and Dongfeng Trucks. With these models, Volvo
Group reaches customers all over the world.

Buses

If all our buses around the world were to be used simultaneously, they would be
capable of transporting approximately ten million people. We have several types of
long-distance coach andintercity coach designed for various driving conditions, for
example for roads in India, crossing the American continent or driving to and from
airports in Europe.

The four bus and coach brands are Volvo, UD Bus, Prevost and Nova Bus.

Road Machinery

20 | P a g e
 Ove
r half a million construction machines produced by us during the past ten years are
used at construction sites around the world. Our three brands, Volvo, Terex Trucks
and SDLG, provide a wide range of equipment suitable for the construction of roads
and bridges. Pavers, compactors, excavators and wheel loaders are a few examples.

IN THE CITY

Our products are part of your daily life. They take you to work, collect your rubbish
and keep lights shining. Volvo Group is developing tomorrow’s public transport
solutions so that you can get to work or to school quickly and easily.

Our construction equipment is used to build housing, industrial and sports facilities,
and the Group’s vehicles help keep public areas clean by transporting millions of
tonnes of refuse from cities around the world every week. Reliable electrical
generators ensure that the power is running when you visit a hospital. Volvo Group is
one of the world’s largest suppliers of industrial engines.

We contribute to our customers’ profitability by offering assistance with financing as

well as favourable service agreements.

21 | P a g e
 Trucks

The various types of trucks we offer contribute to the efficient functioning of city
life. Our small delivery trucks easily distribute products to stores. We also have
specially built trucks for refuse collection or snow clearance, along with trucks that
can handle quick dispatch in the event of a fire.

We invest strongly in the development of vehicles that run on alternative fuels,

including hybrid and electric vehicles, with the aim of improving the city
environment.

With six truck brands – Volvo, UD, Renault Trucks, Mack, Eicher and Dongfeng
Trucks – the Group has a presence in most of the world’s large and small cities.

Buses

You need high quality public transport to get to and from work or school. Buses are
the most common form of public transport in the world today. As the world’s cities
continue to expand rapidly, the demand for public transport is also increasing.

We collaborate with decision-makers in cities around the world through our City
Mobility programme to develop public transport solutions that are cleaner, quieter
and more efficient. We have contracts with several cities in Europe for the delivery
of our new electric hybrid. We collaborate with cities in South America on BRT (Bus
Rapid Transit) systems, and have initiated a pilot project in Gothenburg for buses
that run solely on electricity.

We have four bus and coach brands: Volvo, UD Bus, Prevost and Nova Bus.

• Construction equipment

22 | P a g e
Our construction equipment and our three brands, Volvo, Terex Trucks and SDLG,
contribute to the growth and development of cities. Our equipment is used in the
construction of housing, sports centres and industrial facilities. Whether a project
involves constructing a park, clearing land for a bus park or building a new bridge or
roundabout, we have machines specially designed for the job.

Our industrial equipment is also used in many airports around the world. One
example is Arlanda Airport near Stockholm, where our purpose-built dumpers clear
snow from runways in less than ten minutes.

OFF ROAD

We contribute to the extraction of some of the world’s most important raw materials.
Volvo Group’s vehicles can be found at the bottom of mines and in the middle of
forests.

Our industrial equipment and trucks are used daily to mine iron ore, clear forests,
transport lumber or haul many tonnes of stone and rock. Our industrial engines
23 | P a g e
power vital irrigation installations at agricultural sites all over the world, so that
farmers can grow their crops.

We help our customers with financing and see to it that no machines remain at a
standstill – no matter where in the world they operate.

Off road trucks

Hauling lumber from forests, iron ore from mines or large boulders from quarries
requires powerful off road machines. Several of our truck models have been
developed specifically for industrial work and mining. Volvo FMX, Renault C and
Renault K, Mack Granite and Mack TerraPro and Quester CWE are a few examples.

Off road construction equipments

Excavators, wheel loaders, articulated and rigid dump trucks. These are just a few
examples of the broad range of construction equipment offered by Volvo Group.
Many of these off road construction machines are built to handle tough and heavy
mining work. Others are designed to navigate dense forests or dust-laden quarries.
Our three brands, Volvo, Terex Trucks and SDLG, can be found in markets
worldwide.

Off road industrial engines

Thanks to its Volvo Penta brand, Volvo Group is one of the world’s largest suppliers
of industrial engines. Industrial engines represent approximately 50 per cent of
Volvo Penta’s sales.

Day and night, and year after year, Volvo industrial engines boost productivity in
container terminals, mines and a wide range of other industrial applications, such as
a research station in Antarctica, where performance and uptime make the difference.
Through strong partnerships we provide the performance needed to help people drive
productivity.

24 | P a g e
AT SEA

We are with you out at sea, whether you are on holiday in your pleasure boat or need
urgent help from the marine rescue services. Sea conditions may be the roughest
imaginable when the

coast guard or marine rescue services are out on duty. The sea can also be calm and
pleasant when you are travelling on a ferry or fishing from your private leisure boat.
Volvo Group has marine engines for all situations and for all types of customers.

Marine leisure time

We are redefining premium boating power through innovation, and offer a number of
systems that allow you to relax and make the most of your trip in your leisure boat.
Innovations such as IPS, Inboard Performance System and Forward Drive that make
25 | P a g e
boating easy, enjoyable and more fun. The forward-facing propellers have
revolutionised the boating world and made marine vessels considerably easier to
navigate. “Easy Boating” is a concept that expands on these developments with a
range of solutions throughout the entire boat – from prop to helm.

Volvo Penta is the world’s biggest producer of diesel engines for leisure boats and
the leading developer of marine propulsion systems.

Marine commercial

Sea and river transport, coastguards, passenger transportation and wind farming
vessels depend on reliable engines. Volvo Penta offers drive systems and engines for
propulsion, auxiliary equipment and complete marine generator sets.

Fo
r more than 100 years, Volvo Penta has refined its offering to the marine market in
partnership to combine essential uptime and efficiency. Innovation that's geared
towards business.

AWARD AND RECOGNITIONS

The Volvo Technology Award is a mark of recognition for outstanding technical

advances which contribute to the enhancement of the Volvo Group's high-tech

26 | P a g e
competitiveness and technological expertise. Recipients over the years have included
world-famous innovations, such as the Duo prop marine drive, the City Filter used to
purify truck and bus exhausts, and Volvo's side airbags (SIPS).

The Volvo Technology Award, which is open to personnel within the Volvo Group,
is awarded annually.

Previous
recipients
Year Recipient Description
Volvo Group is
Remote software update first in the heavy-
saves time for customers duty vehicle
industry to offer
2020
customers remote
software updates
of vehicle
component sand
systems.
The engineers behind this
solution receive
this year’s
Volvo
Technology
Award.
A ground-
breaking project
2019 Electric HYPERLINK saw autonomous,
"https://www.volvogroup.com/en-en/n
hybrid and all-
ews/2019/may/news-3313242.html"
HYPERLINK electric concept
"https://www.volvogroup.com/en-
machines electrify
en/news/2019/may/news-
3313242.html"Site a quarry

27 | P a g e
 in Sweden.
The concept
delivers
significant
Hybrid excavator improvements in
2018 concept fuel efficiency
and productivity,
thanks to the use
of an
electronically-
controlled
hydraulics
system, energy
recovery system
and pump
optimization.
The Volvo
Wave Piston Design
Group’s new
2017
truck engines are
more fuel
efficient as a
result of their
intelligent piston design.

Waves have
been added to
the piston crown
to improve
the use of oxygen.
The Volvo
Group’s position
as a world leader
2016 Electric HYPERLINK

28 | P a g e
 "https://www.volvogroup.com/en-en/new in terms of
s/2016/apr/news-151679.html"
electric buses
HYPERLINK
"https://www.volvogroup.com/en- can largely be
en/news/2016/apr/news-
attributed to the
151679.html"bus
unique and
innovative
electric
powertrain.
The I-Shift
Dual Clutch
Dual Clutch transmission transmission
2015
uses technology
from the sports
bus industry to
lift the
driveability in
heavy trucks
to a whole new level.
Volvo Dynamic
Volvo Dynamic Steering
Steering makes
2014
the truck
driver’s job both
safer and more
comfortable.
The I-see system - fuel-
The I-See
saving “autopilot”
system reduces
2013 for HYPERLINK
"https://www.volvogroup.com/en-en/ne fuel
ws/2013/apr/news-141470.html" consumption
HYPERLINK
"https://www.volvogroup.com/en- for long-
en/news/2013/apr/news- distance
141470.html"trucks
transport by up

29 | P a g e
 to 5%.
A system
that makes
2012 OptiShift
a wheel
loader up
to 15
percent
more
energy-
efficient.
The resultant
Hydraulic system in HYPERLINK
2011 improvement in
"https://www.volvogroup.com/en-
system efficiency is
en/news/2011/apr/news-
yielding fuel
100068.html" HYPERLINK
savings of up to 15
"https://www.volvogroup.com/en- percent.
en/news/2011/apr/news-
100068.html"excavators
Volvo Penta Dynamic
Positioning A system that
2010
System maintains the boat in
its current position

I-SAM is a
permanent magnet
The HYPERLINK motor running on
2009 "https://www.volvogroup.com/en-en/ne
alternating current.
ws/2009/apr/news-60746.html"
HYPERLINK The vehicle's
"https://www.volvogroup.com/en-
braking energy is
en/news/2009/apr/news-
60746.html"I-SAM converted into
hybrid HYPERLINK electricity and stored
"https://www.volvogroup.com/en-en/new

30 | P a g e
 in the onboard
s/2009/apr/news-60746.html"
HYPERLINK batteries.
"https://www.volvogroup.com/en-
en/news/2009/apr/news-
60746.html"solution
The hydraulic
suspension
arrangement has
advanced electronic
control that enables
New hauler suspension the machine to
2008
perform
consistently,
regardless of
whether it's empty
or full, or driven
slowly or at
maximum speed.
Under favourable
conditions not only
did it increase the
efficiency of the
machines by as
much as 40%. It
also exposed
operators to
significantly reduced
vibrations.
The new family of
diesel engines
introduced mainly
Heavy duty engine HYPERLINK
2007 between 2005 and
"https://www.volvogroup.com/en-
2007 proved that
en/news/2007/apr/news-20204.html"

31 | P a g e
 HYPERLINK our engineers had
"https://www.volvogroup.com/en- solved the equation
en/news/2007/apr/news- of higher
20204.html"platform performance, lower
fuel consumption
and reduced
emissions.
The common
instrument cluster is
characterized by a
Common vehicle instrumentation
2006 high level of
component
commonality,
unseen by the
observer, while at
the same time
affording a high
degree of flexibility
with a clearly
visible
brand identity.
The Inboard
Performance
2005 Volvo HYPERLINK
"https://www.volvogroup.com/en-en/new System with
s/2005/apr/news-20893.html" forward-facing
HYPERLINK
"https://www.volvogroup.com/en- propellers. In
en/news/2005/apr/news- simple terms, the
20893.html"Penta HYPERLINK
"https://www.volvogroup.com/en-en/new propellers in the
s/2005/apr/news-20893.html" new system face the
HYPERLINK direction of
"https://www.volvogroup.com/en-
en/news/2005/apr/news-
20893.html"IPS

32 | P a g e
 travel of the boat.
IPS uses pulling
and counter
rotating propellers,
with the drive
through the hull
rather than the
stern. Making
boats faster, more
powerful, quieter,
cleaner - and just
as easy to handle
as a bus.
Volvo
Construction
Equipment's E-
Fuel-effecient wheel HYPERLINK
2004 series wheel
"https://www.volvogroup.com/en-en/ne
loaders adopted a
ws/2004/apr/volvo-tec-award-2004-
holistic view in
goes-to-fuel-efficient-wheel-
order to optimize
loaders.html" HYPERLINK
fuel efficiency:
"https://www.volvogroup.com/en-
every machine
en/news/2004/apr/volvo-tec-award-
component was
2004-goes-to-fuel-efficient-wheel-
busefully
loaders.html"loaders
designed as an
integral part of
the
overall system.

33 | P a g e
 Volvo Link
combines
satellite
technology with
Volvo HYPERLINK
2003 the Internet for
"https://www.volvogroup.com/en-
functions
en/news/2003/apr/volvo-
including
technology-award-2003-
navigation,
presented-to-volvo-
traffic
link.html"Link telematics
information,
emergency
assistance and
two-way
communications
between trucks
and their home
bases, regardless
of where a
vehicle is
situated in
the world.
I-Shift may be
interpreted either
literally as "I
shift" or as
I-Shift transmission "Intelligent Shift".
2002
Since the
transmission is
genuinely
intelligent - not
only changing

34 | P a g e
 gear itself, but
also doing so
more efficiently
than any
comparable unit
on the truck
market at the time
- both
interpretations are
equally valid.
Film-cooled A completely new
2001 form of nozzle
rocket HYPERLINK
"https://www.volvogroup.com/en-en/news/200 cooling known as
1/apr/volvo-technology-prize-2001.html" film cooling.
HYPERLINK
"https://www.volvogroup.com/en-en/new
s/2001/apr/volvo-technology-prize-
2001.html"nozzle

Wireless transport
information system.
2000 Dynafleet HYPERLINK The system made it
"https://www.volvogroup.com/en-en/ne
easier for haulers to
ws/2000/apr/wireless-transport-
information-system.html" communicate in real
HYPERLINK
time with their
"https://www.volvogroup.com/en-
en/news/2000/apr/wireless- vehicles and
transport-information-
drivers.
system.html"II

The novel Common Pressure Rail Hybrid system applied to excavators, resulting
in radical improvements in energy-efficiency, has received the Volvo Technology
Award 2021 Breaking new grounds for hydraulic efficiency in excavators, the
Common Pressure Rail Hybrid system by Volvo Construction Equipment (Volvo

35 | P a g e
CE), is yet another innovation improving performance while reducing CO2
emissions in line with Volvo Group’s net zero value ambitions by 2040.

The Volvo CE team from Sweden and South Korea has worked closely with Finnish
company Norrhydro in the research project, leveraging an idea initially born out of
academic collaborations. Today, the innovation has matured into a real-world
solution with ongoing customer trials in the field and it is expected to accelerate the
introduction of e-mobility across Volvo CE’s larger excavator platform. The
company anticipates the new technology to be available in the excavator market in a
near future.

“This innovation enables Volvo CE to offer its customers a truly unique electro-
hydraulic solution, pushing fuel efficiency to new levels. It’s demonstrating the
passion of our engineers to bring forward customer-oriented solutions and systems
that will drive the transformation towards net-zero emissions operations. Also, it’s
again an example of our strength working in partnerships and achieving amazing
results”, says Lars Stenqvist, CTO Volvo Group.

The innovation enables new ways to reduce energy losses in hydraulics. In the new
system architecture all the machine’s work functions are connected to a hydraulic
energy storage via a common pressure rail, comprised by two or more pressure lines.
The energy storage, which consists of hydraulic accumulators, enables energy-
efficient recovery of kinetic energy and peak power supply. For cylinder-driven
functions, so-called “smart actuators” are used to achieve energy-efficient conversion
from hydraulic power to a variable force and speed. The system also allows energy
recovery and performance increase of the machine’s rotating loads, such as the swing
function through the introduction of variable hydraulic machines. Thanks to greatly
reduced energy losses and the power contribution from hydraulic accumulators,
a

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smaller power source can be used and the need for cooling is reduced. With a higher
available power, cycle times can be shortened, for example when loading a truck,
which contributes to both efficiency increases and cost benefits for the customer.

“We are really proud of this recognition, which we share with our collaboration
partners”, says Kim Heybroek, Volvo CE Emerging Technologies Research Engineer
and a member of the winning team. “The potential in the innovation has been a
strong driver for us in the project, making it an exciting journey to be part of, as we
see the significant benefits it will offer for our customers and help build the world we
want to live in.”

The Volvo Technology Award is a mark of recognition for outstanding technical

advances that contribute to the enhancement of the Volvo Group’s high-tech
competitiveness and technological expertise. Previous recipients have included
world-famous innovations such as the Duo-Prop marine drive, the City Filter used to
purify trucks and bus exhausts, Volvo’s side airbags (SIPS) and the Electric Site
emission free quarry research project.

SWOT ANALYSIS

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By reading the following swot analysis of Volvo you will find out what are the
various factors which are responsible for the success of this firm and factors which
can be dynamic and game- changing in the future.

• Strengths of Volvo

The strengths of an organisation are internally driven factors that put the company in
the renowned position it is. Following are the strengths of Volvo –

Diversified portfolio – Volvo has its operation in six business segments which
consist of bus, trucks, construction equipment, Volvo Penta, busses, and customer
finance. Volvo is very well balanced with the balanced portfolio of its products and
generates balanced revenues.

Strong market position – Volvo is the market leader for most of its segments.
Volvo has a strong position throughout the world due to its continuous expansion and
use of modern technology. Specifically, in the truck segment, the market share is
more than 20% which is the highest for any of its segments. Volvo also leads in the
buses and construction equipment.

Strong research & development – Volvo has given huge importance for its
research and development and has a strong focus on it. They have put huge amounts
into research and development. Having a great r & d team gives you an edge over
competitors’ products and it helps us to stay in the race and innovate ourselves.

Reliable brand – As a brand, Volvo is one of the most reliable and trusted brands
in the world. They have a reputation for making the world’s safest bus and trucks and
are having dominance with NHTSA’s 5-star safety rating. The way Volvo buses for
its customers by inventing a three-point seat belt is highly appreciated by people.

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• Weaknesses of Volvo

Weaknesses are internal factors that place the company at a disadvantage compared
to its competitors. Following are the weaknesses of Volvo –

Product recall – There are many products of Volvo which have been recalled by
the company in recent years. thus has affected the brand image of Volvo and has
created a bad impact on the brand name of Volvo. For eg, in 2014,2015 the vnl
models were recalled because of the default in their panels. Such things can create a
negative impact on the brand hence precautions must be taken in advance.

Declining margins – Operating income of Volvo has been declining for a few
years now. Even though there is growth in revenues the growth in the profit margins
is less or even nil at some point in time. The company has continuously lost margins
in the past three years continuously. such a decline in margins increases the worry
for shareholders.

Competitors – There are a lot of competitors in the automation industry. Some of

the competitors to the Volvo group are general motors, Tata motors, Tesla, lubricon,
Kia motors, etc. Volvo faces tough competition in all of its segments which forces
them to do product competition. Hence Volvo always has to innovate themselves and
keep their prices lower than competitors. The Volvo group always face tough
competition and hence it leads to low-profit margins which is one of the biggest
weakness which they face

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• Opportunities for Volvo

Opportunities are external factors that the company can potentially benefit from
when recognised. Following are the opportunities Volvo can avail –

Electric bus – Electric bus are the future of the automation industry. After huge
demand for Tesla bus and the public’s concern towards sustainability can be a huge
opportunity for electric vehicles. Volvo has already started its research and
development and they are soon to launch their e-bus at a reasonable price. This can
make Volvo a huge success and create more opportunities for them.

Growing global freight sector – There is a growth in the global road freight
sector in value as well as size in the past few years. The sector is about to grow 6%
cagr in the next 5 years as expected by analysts. Volvo creates trucks and it is the
market leader in that segment worldwide. They can take huge advantage of this
situation.

Strong outlook – The road freight sector is about to grow 6% cagr in the next 5
years as expected by analysts. Especially in the Asia-Pacific region, the trucks
market has shown tremendous growth in recent years. Volvo will have a positive
impact due to this demand in the future.

Improving global construction industry – The construction industry has

shown great growth in the last few years, even though impacted by pandemics the
construction industry has improved largely. It is growing at the rate of 10.3% cagr. In
emerging countries, the infrastructure expenditure is expected to be high.

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• Threats to Volvo

Threats are external factors that a company should be aware of to hold its status in
the market. Following are threats to Volvo –

Price wars – Internal competition with competitors causes price wars. Volvo faces
tough competition in all of its segments which forces them to do product competition
i.e fighting for giving a better quality of product or service, this at times leads to
price competition. Hence Volvo always has to innovate themselves and keep their
prices lower than competitors.

Strict environmental-related laws – The automation industry faces huge

criticism from environment preservation NGOs and other people. People criticize
them for increasing pollution due to the use of bus and methods used for producing
such bus. Different countries have different laws. What is legal in one country might
not be legal in another country.

Increasing prices of fuel – The prices of fossil fuels like petrol, diesel, etc have
increased very high. This doesn’t allow the majority of the people to use their
vehicles in the way they used to before and hence they avoid using their bikes, bus,
this leads to decrease in sales of vehicles. Hence increase in the prices of fuels is a
threat to Volvo.

Currency fluctuations – Volvo operates globally in so many countries and

hence it receives many kinds of currencies. All currencies are not stable and some are
unacceptable due to fluctuations happening in their value. Volvo accepts Swedish
Konner and US dollars create fluctuations in their total value.

41 | P a g e
CHAPTER 3

THEORETICAL PERSPECTIVES

• Current Assets:-

The Volvo Group held total assets to the value of almost 516 billion Swedish
kronor (or around 57 billion U.S. dollars) in 2021. Cash and cash equivalents
decreased by over 27 percent between 2020 and 2021.

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43 | P a g e
 • Current Liabilities:-

Volvo total liabilities from 2016 to 2021. Total liabilities can be defined as the total value of

all possible claims against the corporation.

• Volvo total liabilities for the quarter ending September 30, 2021 were $39.163B, a

8.33% decline year-over-year.

• Volvo total liabilities for 2020 were $39.532B, a 2.48% decline from 2019.

• Volvo total liabilities for 2019 were $40.538B, a 0.97% increase from 2018.

• Volvo total liabilities for 2018 were $40.15B, a 12.79% increase from 2017.

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Volvo Annual Total Liabilities( Millions Volvo Quarterly Total
of Liabilities
US $) (Millions of US $)
2020 $39,532 2021-09-30 $39,163

2019 $40,538 2021-06-30 $44,090

2018 $40,150 2021-03-31 $43,694

2017 $35,599 2020-12-31 $39,532

2016 $35,205 2020-09-30 $42,721

2015 $32,541 2020-06-30 $39,314

2020-03-31 $41,535

2019-12-31 $40,538

2018-12-31 $40,411

2018-09-30 $40,958

2018-06-30 $41,453

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 2018-03-31 $40,150

2017-12-31 $36,908

2017-09-30 $39,325

2017-06-30 $33,995

2017-03-31 $32,541

2016-09-30 $35,722

2016-03-31 $32,541

2015-12-31 $36,244

2015-09-30

2015-06-30

• Working Capital:-

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a
company’s accounts receivable is only worth 75% its value, its inventory is only worth
50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that
preferred stock belongs on the liability side of the balance sheet, not as part of capital and
surplus. This is a conservative way of estimating the company’s value.

For the Farm & Heavy Construction Machinery subindustry, Volvo AB’s Net-Net
Working Capital, along with its competitors’ market caps and Net-Net Working Capital
data, can be viewed below:

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• Com
petitive companies are chosen from companies within the same industry, with headquarter
located in same country, with closest market capitalization; x-axis shows the market cap,
and y-axis shows the term value; the bigger the dot, the larger the market cap.

Annual
Data

Quaterly Data

Volvo Net-Net Working Capital Distribution

47 | P a g e
For the Farm & Heavy Construction Machinery industry and Industrials sector, Volvo's
Net-Net Working Capital distribution charts can be found below:

* The bar in red indicates where Volvo's Net-Net Working Capital falls into.

Volvo AB Net-Net Working Capital Calculation

Volvo AB's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in
Dec. 2021 is calculated as

Net-Net Working (A: Dec. 2021 )

Capital Per
Share

(Cash And 0.75 0.5 Tot al Lia bili

Cash Equivalents * Accounts * Total ties
Receivable Inventori es

48 | P a g e
Preferred Stock Minority Shares
Interest) Outstand ing
(EOP)

(62293 0.75 * 0.5 * 37

40776 63916 17
38
0 3073) 2033.45
-122.93

Volvo AB's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec.
2021 is calculated as

• For Operating Data section: All numbers are indicated by the unit behind each term and
all currency related amount are in USD.
• For other sections: All numbers are in millions except for per share data, ratio, and
percentage. All currency related amount are indicated in the company's associated stock
exchange currency.
•

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a
company's accounts receivable is only worth 75% its value, its inventory is only worth
50% of its value, but its liabilities have to be paid in full.

In addition, Graham believed that preferred stock belongs on the liability side of the
balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is
dubbed "an imperfect creditorship position" that is best placed on the balance sheet
alongside funded debt.

This is a conservative way of estimating the company's value.

49 | P a g e
CHAPTER 4

RESEARCH METHODOLOGY

1. Research design (strategy)

The strategy of
research contains few steps. Firstly, all communication between design department and
others as well as current situation with design management will be observed (see Fig.1
Research strategy. “Current situation”). In order to achieve final targets several different
approaches how to
measure communication and integration between design group and other departments will
be utilized. In Chapter “Framework and central concepts communication measurement
described in more details. For these purposes business processes modeling will be drawn
(Appendix B as simplified example). Internal guideline, document workflow.
Responsibility matrix, KPIs (key performance indicators), non-formal interactions of
design. Department with other structural divisions with be observed. Decision making is
one of the important parts of organization theory. If the company is going to be more
design directed it should involve new methods for decision making and argumentation.
AHP (analytical hierarchy process method for evaluating an idea or concept based on
comparing criteria) helps to distinguish influence and preference of design during decision

50 | P a g e
making. The list of currently used tools and methods will be described and their
effectiveness will be measured. Type of working mode with external design and graphic
studious will be presented. Artifacts can be found in digital product life-cycle systems
transactions (SAP as

example) which support the activity of design division. If this system is not in use, in this
case the supporting software will be proposed. For launching to increase transparency of
design projects. Special attention will be paid to the role of design leadership in Volvo and
improving motivation program.In parallel with this activity information about design
applications in other businesses will be gathered. In order to make it the extra case studies
with transferring knowledge and checking applicability are proposed. Analyzing scientific
articles as well as theories and methods from the literature the basis for design initiatives
will be formed. Examples of such research result can be found in Chapter “Cases from
companies”.

Discovered knowledge will create united data pool (“Accumulator” as presented in Fig. 1.
“Research strategy”) with new design tools and methods which have influence to the
corporate hierarchy. In order to prove my standpoint I suggest variants of possible usage of
design in non standard ways and will try to argue that design knowledge and tools can be
applied across many functions in the organization, but these functions should be not
separate but united under one idea.

It is important not only to develop new design tools and methods which can be used in new
way inside Volvo Group but also to implement them successfully. Concepts like B-B
model and Integrated design management are responsible for promote design initiatives in
large Organization and advocate their value as competitive advantage.

The final target is to create the influence to the hierarchies to use design in a more effective
way. Based on design thinking, theory of organization and applying practical examples the
influence can be created by redesign of existing relationships, improving information
sharing across project teams, creation of well-balanced decision making tools, providing
for top management new design activities with clear contribution, resource allocation for
the new risky innovative design projects with long- terms perspectives, proposing new

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tools for cooperation, development KPIs which reflect fruitful design activity,
improvement managerial skills of designers to help them argue breakthrough design based
on future customer needs and trends, application of design in non-standard situations, for
example to use visualization to solve the company's problems, improvement of design
culture to make the design an integral part of Volvo Group.

The success of implementation would also be measured by feedback metrics what changes
were made with the maximum efficiency. The positive changes can be easily detected by:
comparison picture and graphs "as is" and "to be" after proposing new design thinking and
new communication bridges.

In the article "Design and Business Transformation Design Council suggests the
conceptual model and a specific survey tool to detect the level of maturity of a company in
terms of design management. The

higher company's level the greater strategic importance of design. Four levels are as
follows: design management has no applications, design management as a Project, design
management as a Function, design management as a Culture. This model has 5 metrics:
awareness of benefits, design planning, resources for design, design management expertise
and design management process.

2.B-B model

The Bower-Burgelman (B-B) process model of strategy making in a large complex firm
depicts managerial activities on three levels of organizational hierarchy (designers, middle
design managers, and top managers) and conceptualizes intraorganizational strategy-
making processes. B-B model is a process according to which strategic initiatives are
developed primarily by front Line managers – designers, marketing department who
usually have specific knowledge. Strategic design initiatives are adopted by middle
managers whose role is to translate from design language to managerial language. Top
managers can exercise critical influences on these activities by setting up the structural
context to reflect the corporate objectives. The development of these strategic design

52 | P a g e
 initiatives can lead to the improvement or change of the concept of corporate strategy. The
central feature of the B- B model is a resource allocation process in which bottom-up
design initiatives compete for sbusce corporate resources and top managers’ attention to
survive within the corporate contexts-structural and strategic contexts.

• Research questions

The purpose of this research is twofold: firstly, to gain a profound understanding of how
communication between design group and other departments can be improved, the
influence of design on the company’s business and hierarchy; secondly, to examine the
companies in order to determine in what stage of design process integration Volvo group is
located, and in what way it has an impact on the firm’s performance. For these purposes
identifying the factors that affect design management integration is valuable.

For these reasons, the central questions of the research are as follows:

• How design methods and processes can be used in a new way and how design activities
Should be implemented correctly in the structure of the company?
• What are particular characteristics of design management in large manufacturing
Companies?
• Which design processes from other contexts can be applied to create additional value
• What communication modes would be the most effective for Volvo Group?
• How to overcome challenges connected with design processes in bureaucratic large
Companies?

• How current processes and communication between Design Division and other
departments in Volvo Group can be characterized? What should be improved?

• Limitations

First limitation is connected with the fact that my focus will shift on more practical things.
For analysis of current situation of Volvo Group as a base the business model of only
Volvo 3P will be taken. In order to conduct small case studies those companies which have
capability to cooperate for transferring knowledge will be involved. Another limitation
refers to the applicability of design management tools and methods from other fields to bus

53 | P a g e
 manufacturing area. The specific of Volvo 3P is that it is a large manufacturing company
with lead engineering view. Reference case studies with interviews and case study
meetings requiring personal participation are possible first of all in Scandinavian
companies and international companies which have design activity in north part of Europe.

Research examines communication and all design processes inside the company. For
external communication analysis the most typical experience with design agencies will be
selected. For generalization of results the number of examinations could vary.

• Research methods

The following research methods will take place in this paper:

• Empirical study with Volvo Group case study;

• Small case studies to gather detailed information and to support the main research;
• Observations of the most advanced design management practice internationally through
participating in the conferences and meetings;
• Participate in debates of different professional design organization (for example DMI) to
develop the network.

In terms of academic and business value the most effective is a case study with
collaboration elements that are reflected in knowledge sharing and consultancy during
research project. For validating data collected during the case study various methods will
be used: qualitative and quantitative. It is planned to interview different people individually
through the meetings, e-mail discussions, phone interviews as well as observations and
involvement in daily activities to uncover tacit knowledge about communication standards.
The aim is to understand non-formal communications during collaboration projects
especially from the perspective of big manufacturing companies where all processes should
be formalized and supported by transparent document workflow. The main reason is to
compare logic of managers about design and find indicators for decision making. In this
case Analytical Hierarchy Process (AHP) software can be used to compare the preferences

54 | P a g e
of design values. The examination of documents and instructions (best practice “To be”)
creates a complex vision.

In-depth case study approach was chosen as the best-suited research method by reason of
that it can provide the most elaborated information for each case. As a result, the integrated
analysis of the target research problem will be explored. The research process of this thesis
is based on two research activities: one part is a data collecting; the second part is the data
processing. The aim of this research process is to produce a solution to explicit practical
problem that can be further implemented. The research should also have the utility and a
benefit as well as needs to be verified and validated. Therefore, the proposed solution
needs to be tested by users of the target organization.

One of the alternatives of the research process is presented. The research process map is
shown In Fig.

UNIVERSE OF STUDY

The topic of this project is study on customers satisfaction of Volvo buses for selecting this
topic there are different reasons behind that which are as follows;

55 | P a g e
• To learn about how to do market survey.

• To learn about the impact of different strategies to improve the sale of particular services.

• To learn more about how to communicate with customers.

Rather than above reasons,another reasons is that I am doing MBA with Marketing
specialization hence I thought that the practical Knowledge is very much important than
the Theoretical Knowledge Hence I wanted to choose That topic which might be useful for
future point of view so that I could get lots of knowledge from this topic.

Sampling Units

The sampling Unit is the entity to which we must follow during the whole research study.
In the context of the project study, the sampling unit primarily consists of Individuals.

Sampling Size

In the context of the project study, 100 respondents are chosen keeping in view the above
constrain.

Sampling Plan

The sampling plan decided for this study is to collect the survey from 100 respondents. The
people were made to fill the structured questionnaire.

Sampling Methods

There are various methods of sampling in the context of my project study I have selected
Nonl probability Sampling Method. And under that, I have taken convenience Sampling.
Under this

I prepared a simple questionnaire to collect the information.

56 | P a g e
CHAPTER 5

DATA ANALYSIS AND INTERPRETITON:

Q1.Which brand of Bus will you prefer to travel

Prefer Percentage

Tata 36

Force 9

Bharatbenz 10

Volvo 45

Total 100

INTERPRETATION
According to this question, we can see that VOLVO is the most favorite brand
whereas 36% of people are liking Tata, 9% people are liking FORCE and 10% of
people are liking Bharat benz.

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Q2. Which bus among this is accurate in completing the journey on time?

Prefer Percentage

Tata 25

Volvo 45

Force 12

Bharatbenz 18

Total 100

INTERPRETATION

According to this question, we can see that Vovo is the most favorite bus where as 25% of
people are liking Tata, 18% of people are liking Bharatbenz and 12% of people are liking
Force.

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Q3. Would you like to travel by another bus of volvo?

Like Percentage

Yes 70

No 30

Total 100%

INTERPRETATION

According to this question, we can see that 70% of people are like to travel in Volvo bus
and 30% denied to travel.

Q4. Are you satisfied with the services of VOLVO?

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 Satisfied Percentage

Yes 96

No 4

Total 100%

INTERPRETATION

According to this question, we can see that most of the people are satisfied with the
services of VOLVO.

Q5. Are you satisfied with the ticket price of VOLVO?

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 Like Percentage

Yes 75

No 25

Total 100%

INTERPRETATION

According to this question, we can conclude that approx. 75% of people are satisfied with
the prices of VOLVO and approx. 25% of people are not satisfied with prices of the
company.

Q6.If the price of the VOLVO tickets increases, will you travel in the bus?

Like Percentage

Yes 65

0No 35

Total 100%

INTERPRETATION

According to the question, we can observe that 65% of people will buy the product of
VOLVO if the prices of the product will increased and rest 35% of people will not buy the
product if the prices will be increased.

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Q7. If you are using VOLVO buses, are you loyal to it?

Like Percentage

Yes 59

No 41

Total 100%

INTERPRETATION

According to the question, we can see that 59% of people are loyal towards the VOLVO
product and rest are not.

Q8. Do you ever bought the VOLVO services internationally?

Like Percentage

Yes 91

No 9

Total 100%

INTERPRETATION

As we can see that , 9% of people only buy the product internationally and rest 91% of
people don’t refer to buy products internationally.

Q9. Do you have any complaint regarding to the services?

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 Like Percentage
Yes 95
No 5
Total 100%

INTERPRETATION

According to this question, we can see that 95% of people have no complaints regarding the
product or a brand and rest 5% of people are having the complaints about the products or a
brand

Q10. Would you like to switch to another brand with additional features?

Like Percentage

Yes 67

No 33

Total 100%

INTERPRETATION

From the above graph is 67% customer like the brand and other features in VOLVO
busbecause the facility are provide is better than other bus and 33% customer are not
like the additional feature in bus.

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CHAPTER 6

FINDINGS, CONCLUSION AND SUGGESTIONS

FINDINGS

Out of 100 respondents, dominant portion i.e., nearly Maximum No of the users age
between 20-35 years.

• Looking at the gender distribution, Maximum No of the users taken under study
are males who can perceive to be more interested in travelling.

• In Occupation frequency, nearly Maximum No of the respondents are Postgraduates.

• Over Maximum number of the respondents have used and aware about the Volvo
buses and services.

• Minimum No. of respondents agree that Volvo provides less comfort during trips.

• Maximum No of respondents have used Volvo buses and services which are available
in the market.

• Minimum No of respondents believe that Volvo maintains proper hygiene in bus.

• Minimum No of respondents thinks that the price of Volvo bus tickets is fair.

• Minimum respondents agree that Volvo buses have luxurious exterior and interior.

• Maximum No of respondents agree that Volvo buses are very comfortable for long
journey.

• Minimum No of respondents are satisfied with Volvo buses

• Maximum No of respondents faced problem while traveling in Volvo buses.

• Minimum No of respondents agree that Volvo buses are punctual in their arrival and
departure.

• Respondents agree that Volvo has a good brand image in the market and in
Respondents mind.

• Maximum No of respondents feel that Volvo bus tickets are affordable and easy to
book.

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• Maximum No of the respondents came to know about Volvo through advertisements

•Minimum on recommendations whereas Maximum on Self Exploration.

CONCLUSION

Volvo has given a tough competition to many marketers with its different types of
Services and unconventional ways of marketing. The Findings in the study shows that
there are many significant factors that together make up the buying decisions of the
services. Customers perception towards a brand is built largely on the satisfactory
value the user receives after paying for the Services and the benefits the user looks
for. In the above study, a large portion of the user is satisfied from Volvo buses
services.

It may be because of reasonable price of the service. It may be due to ability of the
service to cure the problem of distance and time. The satisfaction brings in the
retention of customer. Volvo is enjoying the advantageous position in market through
its luxurious and comfortable bus service available all over the market. However, it
should not ignore the competitors like Tata, force , Bharatbenz and Ashok Leyland.

A point to note is that many people are buying Volvo services due to the good
experience and their unique services which are easily available in the market through
that people are attached to the services. Hence, Volvo (unlike its competitors) is
attracting brand-loyal customers and not price-sensitive customers.

Hence the given Hypothesis is Proven on the basis of data analysis and interpretation
that “There is no association between gender and overall satisfaction towards
Volvo India pvt ltd.”

SUGGESTIONS

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• Research your buyers and their needs.- All buying decisions begin with emotions.
If Volvo understands the emotions their potential client brings to the negotiating table
and how they affect the decision-making process, they are more likely to be
successful. When selling to multiple buyers, remember that they may each have a
different emotional reason for wanting or not wanting to move forward.

• Provide real value- Volvo buses open more doors and build better relationships by
sharing relevant knowledge that adds value to their buyer today than by spamming
potential buyers with sales and marketing messages focused on you and your
organization. Providing resources like case studies, white papers, books/e-books and
links to podcasts that you believe can improve their potential client’s current
situation.

• Focus on quality.-The quality of the prospects in the funnel is more important than
the quantity.If a potential client is difficult to deal with during the sales process, they
probably aren’t going to magically become more pleasant to deal with after you sign
the contract. The cost of acquiring a difficult client can often outweigh the revenue.

• Create multiple options-Build multiple entry points into your sales funnel. Not all
buyers will enter the conversation having the same level of interest, information or
inclination to buy, so plan for varying stages of engagement.

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BIBIOGRAPHY

Adams, M., 2016. Beyond the Glass: Examining Wine Tasting Room Profitability
Using 4Ps of the market mix. Virginia Tech[online].

Dadzie, K., Amponsah, D., Dadzie, C., Winston, E., 2017. How firms implement
marketing strategies in emerging markets: An empirical assessment of the 4a
marketing mix framework. Journal of MarketingTheory and Practice[online].25 (3),
234-256.

Festa, G., Teresa, M., Festa, A., 2016. The revolution of wine market mix: From the
4Ps to the 4Es. Journal of business research[online]. 69 (5), 1550-1555.

Goworek, H., McGoldrick, P., 2015. Retail marketing management: Principles and
practice. Person Education Limited[online].

Jain, M., 2017. An analysis of market mix: 7 Ps or more. International Journal of

Advanced Higher Education Research and Development[online] 1 (7).

Lilien, G., Rangaswamy, A., Bruyn, A., 2017. Principles of marketing engineering
and analytics. Decision Pro[online].

Nuseir, M., Madanat, H., 2015. 4P’s : A strategy to secure customers’ loyalty via
customer satisfaction. International Journal of Marketing Studies[online]. 7 (4), 78.

Palmatier, R., Crecelius, A., 2019. The first principle of marketing strategy. AMS
Review[online]. 1-22
Porral, C., Stanton, J., 2017. Principles of marketing.

ESIC Editorial[online]. https:// www.volvogroup.com

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https://www.volvo.com

https://www.volvotrucks.in

https://www.ibef.org

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RATIONALE/PURPOSE OF THE STUDY: -

A business ideally is continually seeking feedback to improve customer

satisfaction. "Customer satisfaction provides a leading indicator of consumer
purchase intentions and loyalty." Customer satisfaction data are among the most
frequently collected indicators of market perceptions. Their principal used is two
fold."

Within organizations, the collection, analysis and dissemination of these data send a
message about the importance of tending to customers and ensuring that they have a
positive experience with the company‘s goods and services. Although sales or
market share can indicate how well a firm is performing currently, satisfaction is
perhaps the best indicator of how likely it is that the firm‘s customers will make
further purchases in the future. Much research has focused on the relationship
between customer satisfaction and retention. Studies indicate that the ramifications
of satisfaction are most strongly realized at the extremes.

On a five-point scale, individuals who rate their satisfaction level as '5' are likely to
become return customers and might even evangelize for the firm. (A second
important metric related to satisfaction is willingness to recommend. This metric is
defined as "The percentage of surveyed customers who indicate that they would
recommend a brand to friends. =When a customer is satisfied with a product, he or
she might recommend it to friends, relatives and colleagues. This can be a powerful
marketing advantage.) "Individuals who rate their satisfaction level as '1,' by
contrast, are unlikely to return. Further, they can hurt the firm by making negative
comments about it to prospective customers. Willingness to recommend is a key
metric relating to customer satisfaction."

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 Customer Satisfaction is the buzzword used by the business people for the success
of organization in the present days. Due to increase in competition in every product
–line it becomes difficult for the companies to retain the customers for longer
period, so to retain the customers for longer period the marketer has to do only one
thing i.e. ―Satisfy the Customers.

This project is done to know the level of customer‘s satisfaction towards Volo India
PVT LTD . The impact of automobile industry on the rest of the economy has been
so pervasive and momentous. It plays a vital role in helping the nation to produce
higher- value goods and services and in enhancing the skill and imposes tremendous
demand for automobiles.

OBJECTIVES OF STUDY: -

Primary Objective

To study the satisfaction level of the customers of Volvo Group Pvt Ltd.

Secondary Objective

• To find out the major factors that influences the customers while Buying the product.
• To know the customer opinion for a particular product.
• To know the market demand for the product.
• To obtain feedback on the enquiries they get through Promotional strategies.
• To identify the relationship existing between services offered and Level of
satisfaction.

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HYPOTHESIS: -

(H0): There is no association between gender and overall satisfaction towards

Volvo India pvt ltd.

RESEARCH METHODOLOGY: -
It deals with the research approach used in the study, research design, sample
selection methods, data collection methods and data analysis method

RESEARCH DESIGN:
Research Design is a framework or blueprint for conducting the marketing research
project. It specifies the details of the procedures required for obtaining the
information needed to structure and solve the research problems. The independent
variable that will be used in this study is overall satisfaction with BEST public bus
transport service. The dependent variable is specific service quality attributes which
consist of public bus transport departure frequency, travel time, punctuality, price,
bus comfort, seat availability, safe from accident, bus stop security, bus stop
condition & information in bus stop. Data will be collected using questionnaire, the
most common tool to evaluate the similar aim.

Data analysis using statistical tool will be carried out in a way to understand the
local satisfaction on public bus transport.
Sampling Size

In the context of the project study, 100 respondents are chosen keeping in view the
above constrain.

Sampling Plan

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The sampling plan decided for this study is to collect the survey from 100
respondents. The people were made to fill the structured questionnaire.

Sampling Methods

There are various methods of sampling in the context of my project study I have
selected Nonl probability Sampling Method. And under that, I have taken
convenience Sampling. Under this

I prepared a simple questionnaire to collect the information

EXPECTED CONTRIBUTION: -

Every company exists for a reason – it has a purpose. Our solutions to global
challenges are driven by our mission to drive prosperity through transport and
infrastructure solutions, and our vision to be the most desired and successful
transport and infrastructure solution provider in the world. We continuously develop
our products and services to create value for our customers and to support
sustainable societies and the well-being and safety of people.

We aspire to have leading customer satisfaction for all brands in their segments; to
be the most admired employer in the industry and to have industry leading
profitability. The Group’s values – Customer success, Trust, Passion, Change and
Performance – serve as a guide to our day to day behavior and drive decisions on all
levels of the organization. Our Code of Conduct outlines how we do business in
Volvo Group; ethically and in compliance with the law.

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The foundation of our strategy is to create value by supporting our customers’
profitability. There are many paths to pursue to take on opportunities and challenges
and our seven strategic priorities consist of areas with large benefits for both
customers and Volvo Group.

BIBILOGRAPHY: -

Adams, M., 2016. Beyond the Glass: Examining Wine Tasting Room Profitability
Using 4Ps of the market mix. Virginia Tech[online].

Dadzie, K., Amponsah, D., Dadzie, C., Winston, E., 2017. How firms implement
marketing strategies in emerging markets: An empirical assessment of the 4a
marketing mix framework. Journal of MarketingTheory and Practice[online].25
(3), 234-256.

Festa, G., Teresa, M., Festa, A., 2016. The revolution of wine market mix:
From the 4Ps to the 4Es. Journal of business research[online]. 69 (5), 1550-1555.

Goworek, H., McGoldrick, P., 2015. Retail marketing management: Principles and
practice. Person Education Limited[online].

Jain, M., 2017. An analysis of market mix: 7 Ps or more. International Journal of

Advanced Higher Education Research and Development[online] 1 (7).

Lilien, G., Rangaswamy, A., Bruyn, A., 2017. Principles of marketing

engineering and analytics. Decision Pro[online].

Nuseir, M., Madanat, H., 2015. 4P’s : A strategy to secure customers’ loyalty via
customer satisfaction. International Journal of Marketing Studies[online]. 7 (4), 78.

73 | P a g e
Palmatier, R., Crecelius, A., 2019. The first principle of marketing strategy. AMS

Review[online]. 1-22 Porral, C., Stanton, J., 2017. Principles of marketing. ESIC

Editorial[online].

https://www.volvogroup.com

https://www.volvo.com

https://www.volvotrucks.in

https://www.ibef.org

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 ANNEXURE
Questionnaires:

Q1.Which brand of bus you prefer?

• Tata

• Volvo

• Force

• Bharat Benz

Q2. Which bus among this is accurate in completing the journey on time?

• Tata

• Volvo

• Force

• Bharat Benz

Q3. Would you like to travel by another bus of volvo?

• Yes

• No

Q4. Are you satisfied with the services of VOLVO?

• Yes

• No

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Q5. Are you satisfied with the ticket price of VOLVO?

• Yes

• No

Q6.If the price of the VOLVO bus tickets , will you travel in the bus?

• Yes

• No

Q7. If you are using VOLVO buses, are you loyal to it?

• Yes

• No

Q8. Do you ever bought the VOLVO services internationally?

• Yes

• No

Q9.

• Yes

• No

Q10. Would you like to switch to another brand with additional features?

• Yes

• No

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