IUM and Rossinavi developed new research and designs through a corporate project!
January 2017 – Italian shipyard Rossinavi is pleased to announce an exciting new category in yacht design: superyachts designed for Millennials. First in the world to consider this demographic, this thrilling design concept was developed using new research by the International University of Monaco (IUM) and gives compelling evidence for appealing to this segment of the market.
Thus, as part as their curriculum, MBA students are assigned corporate projects.These corporate projects are actual assignments entrusted to students by organizations based in Monaco and further afield. Students work in teams, much as consultants do, and closely with the company’s top management to be able to meet the brief given to them by the “client”. While these briefs may vary in detail, all MBA projects are necessarily strategic in focus. Accordingly, they invariably involve market and competitive analysis; positioning; market and business planning; financial analysis; and implementable recommendations.
For Rossinavi, the goals of the corporate project were multi-fold: identify new and emerging customers whose wealth was in the neighborhood of $300 million (the average necessary to be able to purchase and maintain a mega-yacht); determine which marketing tools, including digital and social, were most appropriate to reach, interact, and influence them; and, ultimately, create awareness and interest among these potential customers in yachting in general, and in the company’s brand and “promise” in particular.
This is why, in May 2016, Rossinavi teamed up with IUM to develop a project focused on analyzing the Millennials market. The research scope was focused, considering what Millennials look for in a yacht and how to attract their attention. The results were wide ranging and provided insights into a numbers of key areas ranging from communication platforms, to design concepts, to field reports.
Key findings include:
- THE ENVIRONMENT IS IMPORTANT TO MILLENIALS – Rossinavi will equip their yachts with fuel efficient gas tanks and other forward thinking features to ensure minimal effects to the environment
- TECHNOLOGY PLAYS A KEY ROLE FOR MILLENNIALS – Rossinavi will rethink navigation, entertainment and automation systems, focusing on ensuring seamless performance and reliability even in extreme conditions
- SAFETY IS A PRIORITY OF THE MILLENNIAL MARKET – Navigation and safety was cited as a priority for this demographic. Rossinavi will include top of the line safety features and navigation systems
- EXTERIOR AND INTERIOR DESIGN AESTHETICS ARE IMPORTANT – New exterior and interior design reflecting the multifaceted sharing and value driven lifestyle of this new breed of yachtsmen will be incorporated
MILLENNIALS PREFER VERSATILE SPACES – Rossinavi has revolutionized the traditional layout, with spaces being seamless and versatile to allow for flexible usage.
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The research by Rossinavi’s Marketing Office finds that the median age of superyacht owners will shift from 45-55 to 35-45 in the next twenty years. As reported by Yachting International, one of the primary reasons for the yachting sector to fare better than others is that the population of Ultra-High Net Worth Individuals is still growing. Worldwide, there are an estimated 82,000 people with a combined fortune exceeding 50 million Euro. Among them are an estimated 1,226 billionaires (480 billionaires in the United States and 147 billionaires in China). A remarkable 20 percent of the top 100 billionaires are under the age of 50, and indeed, yacht owners are getting younger. On average, owners are 10 to 15 years younger than two decades ago.
Compared to the competition, Rossinavi is uniquely positioned to design yachts with Millennials in mind; despite being a young brand that works with young designers, Rossinavi is a highly reputable shipyard with an experienced team. Driven by creative ownership and dynamic employees, Rossinavi has set its sights on harnessing future markets trends. Rossinavi COO Federico Rossi, along with Rossinavi’s specialist yacht designers, presented models, sketches and drawings of three new yachts – Attitude, Project I-Tron and ‘Mark 48’.