Creating customer profiles A study at Volvo Cars Corporation identifying differences between customer types

Abstract

The purpose of this study is to create an understanding of the differences between both the Volvo Cars fleet user-chooser and the Volvo Cars used car buyer to a general new car buyer, on different regions around the world, EMEA, APAC and Americas. This is achieved by creating customer profiles with the help of a survey investigating variables identified by the help of literature and existing market research. These variables are car characteristics, personal reasons, financing, total cost of ownership, test drive, first-time buyers and sustainability. The profiles are then compared to data found on the general new car buyer in order to identify similarities and differences between the different segments. The results from the study show that there are differences between the customers investigated on both regional and customer type-level. The data cannot support a deeper analysis of the differences, but they may serve as a basis for further research into how these differences manifest and how they impact the automotive industry and Volvo Cars. Three paths for further study are then identified on how to examine these differences on a deeper level.