Servitization in the Construction Equipment Industry: What it takes to become a world leading service provider
(2024) MIOM05 20241Department of Mechanical Engineering Sciences
Production Management
- Abstract
- Manufacturing companies increasingly adopt the strategy of adding services to their product offerings to differentiate themselves and overcome product commoditization. The bundling of products and services in complex product-service systems has the potential of high value creation and superior customer experiences. However, this shift requires business model innovation and acquisition of capabilities and resources that manufacturing firms traditionally lack.
The objective of this thesis is to analyze what an OEM within the construction equipment industry must offer to become a world leading service provider.
The data for this thesis has been collected through a combination of methods. Firstly, a literature review was conducted to... (More) - Manufacturing companies increasingly adopt the strategy of adding services to their product offerings to differentiate themselves and overcome product commoditization. The bundling of products and services in complex product-service systems has the potential of high value creation and superior customer experiences. However, this shift requires business model innovation and acquisition of capabilities and resources that manufacturing firms traditionally lack.
The objective of this thesis is to analyze what an OEM within the construction equipment industry must offer to become a world leading service provider.
The data for this thesis has been collected through a combination of methods. Firstly, a literature review was conducted to establish an academic platform for the study. Then, a desktop study was performed to explore the existing service offerings of relevant firms. Finally, interviews were conducted with customers in the construction equipment industry, employees from firms in industries with a higher level of servitization, and employees at Volvo CE.
Based on the results from this study, becoming a leading service provider in the construction equipment industry requires managing and developing customer relationships, developing an independent service organization with the right skill sets, and offering services closely aligned to core competencies. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9166461
- author
- Strömbäck, Axel LU and Wexell, Henrik LU
- supervisor
- organization
- course
- MIOM05 20241
- year
- 2024
- type
- H2 - Master's Degree (Two Years)
- subject
- keywords
- Servitization, construction equipment, business model, value proposition, value delivery, value capturing, service marketing, EaaS
- other publication id
- 24/5291
- language
- English
- id
- 9166461
- date added to LUP
- 2024-06-25 15:19:02
- date last changed
- 2024-06-25 15:19:02
@misc{9166461,
abstract = {{Manufacturing companies increasingly adopt the strategy of adding services to their product offerings to differentiate themselves and overcome product commoditization. The bundling of products and services in complex product-service systems has the potential of high value creation and superior customer experiences. However, this shift requires business model innovation and acquisition of capabilities and resources that manufacturing firms traditionally lack.
The objective of this thesis is to analyze what an OEM within the construction equipment industry must offer to become a world leading service provider.
The data for this thesis has been collected through a combination of methods. Firstly, a literature review was conducted to establish an academic platform for the study. Then, a desktop study was performed to explore the existing service offerings of relevant firms. Finally, interviews were conducted with customers in the construction equipment industry, employees from firms in industries with a higher level of servitization, and employees at Volvo CE.
Based on the results from this study, becoming a leading service provider in the construction equipment industry requires managing and developing customer relationships, developing an independent service organization with the right skill sets, and offering services closely aligned to core competencies.}},
author = {{Strömbäck, Axel and Wexell, Henrik}},
language = {{eng}},
note = {{Student Paper}},
title = {{Servitization in the Construction Equipment Industry: What it takes to become a world leading service provider}},
year = {{2024}},
}