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Fairtheworld's South China Yacht Observation (3): Latest Pulse of IAG Yachts

Posted on: Monday, 3 August 2009, 07:30 CDT

HONG KONG, Aug. 3 /PRNewswire-Asia/ -- Fairtheworld 3D Media today commented on a recent visit to IAG Yachts in Pingsha Yacht Industry Park, and the successful interview of IAG Yachts' technical and business general director, Ms. Olga Giannaccini. The interview with Ms. Olga centered around operational and management aspects of IAG Yachts, with a primary focus on IAG's market deployment and latest pulse amid the financial crisis. In addition, Fairtheworld reporters showed Ms. Olga the latest information about "Fair N Fair" products. After watching Fairtheworld's new introduction video footage, she marvelled: "This is very interesting, I've never seen it before." Reporters Bob Li and Jerry Wu will be received by Ms. Olga again to dig more into this subject.

Impact of the financial crisis on IAG Yachts

When asked about the impact of global slump on IAG Yachts, Ms. Olga noted that the current slump has hit the entire international yacht manufacturing industry hard, and that IAG is not immune from this. Its order negotiations once completely ceased during the recession. A primary reason is that buyers put their purchases on hold due to asset contractions, as well as the wait- and-see mentality on the economic situation.

IAG Yachts was founded in 2005, compared with more premier yacht makers, IAG was less exposed to the financial crisis by virtue of its relatively late market-entry. Therefore, IAG's current R&D and production remained unscathed, with its team intensifying efforts to build new ships with great enthusiasm.

According to Ms. Olga, IAG has resumed negotiations on previously suspended orders, and is now talking with its American partners regarding new order details.

IAG Yacht's latest product positioning and market deployment

When asked about IAG Yachts' product positioning, Ms. Olga noted that IAG Yachts' parent company, IAG Group, as a world-renowned high-end audio product manufacture, has set large-scale luxury yachts as IAG's priority when initially planning the yacht project. The leading product would be the 100- foot sports yachts, with most of the material imported from Europe and the U.S., and a research team invited from Italy.

As for IAG Yachts' market deployment, Ms. Olga told reporters that all of their yachts are exported to developed countries and regions such as Europe and the U.S. These markets are more mature with more professional customers, thus IAG's high performance-price ratio luxury yachts are well-received there. She went on to note that China is not only a good place for yacht building but also a very promising potential market. Apart from cheap labor costs, China also boasts the highest growth rate in the world, which is nurturing a vast number of new wealthy people. IAG is closely watching China's yacht market trends, once a breakthrough for yacht consumption is noticeable, the China- based IAG will be the one to seize this creamy cake.

Pulses on marketing

As for IAG's marketing strategy, the interviewers asked how IAG devotes its resources to ship expositions. Ms. Olga noted that IAG has attached great importance to ship shows. IAG is engaged in many major ship expositions such as Cannes, Dubai, Miami, Moscow and Shanghai Boat & Yacht shows. Participating in these industrial expositions enables IAG to raise its brand profile, develop new dealerships and meet more buyers.

In addition, IAG is incorporating industrial journals and vertical e- commerce networks into its marketing efforts. Ms. Olga was surprised to learn Fairtheworld's "3D Virtual Expo", a revolutionary e-commerce platform that combines expositions with B2B e-commerce, and showed strong interest in Fairtheworld. If yachts are introduced into the 3D world, visitors will have access to 360 degree, on-the-spot experiences, while the platform will also gather together yacht manufactures and dealers, serving as a good vehicle for trade facilitation.

SOURCE Fairtheworld

Source: PR Newswire

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