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The 2015 grand annual YWK convention saw some fierce competitors vying for the top three winning positions in each category. More than a thousand entries were received for the competition this year, and after months of meticulous selection, YASC became one of the 24 finalists chosen to compete in the final stage of the YWK convention.
News Release
YASC CLINCHES THIRD PLACE IN THE 2ND ANNUAL YWK COMPETITION
May 20, 2015
YANMAR ASIA (SINGAPORE) CORPORATION PTE LTD
YASC’s year-long crusade with the Ha Long Bay Project finally came to fruition when their efforts were recognized at the 2015 grand annual YWK (Yanmar Way by Kaizen) convention held on Mar 11. This is the second time Yanmar has held this prestigious global competition, encouraging all group companies worldwide to contest in one of the three categories: Quality, Kaizen, and Challenge. This year, YASC contended in the enigmatic Challenge section and emerged the third place winner at the end of the tough race. Yanmar Corporation Thailand (YCT) and Yanmar America took first and second place respectively.
‘YWK’ was devised based on the Japanese philosophy of ‘Kaizen,’ which encourages continuous improvement that expands beyond the boundaries of work practices, and includes personal development and competence. The YWK convention was thus created, inspiring Yanmar group companies all over the world to experience the spirit of YWK first-hand.
For this year’s YWK competition, YASC submitted their project on Ha Long Bay as their YWK entry. Initial research into Ha Long Bay was conducted in late 2013, and results showed Yanmar dominating the market with a remarkable 98 percent market share. However, the numbers did not accurately reflect the problems faced in this unique market.
In a bid to minimize costs, owners of these Yanmar engines resort to using second-hand Yanmar engines and imitation spare parts as opposed to purchasing new and genuine ones. As a result, YASC formulated a new business model to target this market in hopes of protecting the Yanmar legacy from the onslaught of cheaper alternatives: the Give First Receive Later (GFRL) model.
The essence of this simple model aims to establish a lasting relationship with customers that goes beyond just a quality product, one that can effectively establish brand loyalty with customers and promote Yanmar as a premium brand. This model accounts for both direct and indirect customers, new and second-hand engine owners alike. Following the creation of this model, strategic steps were taken to applying this model to the Ha Long Bay market. First, an official communication center was set up in March last year, serving as a direct point of contact for boat owners and improving their accessibility to Yanmar products.
An exclusive Yanmar Owners’ Club was also created. Members were entitled to benefits such as special service packages and discounts on brand new genuine parts, as well as invitations to training seminars. The first training seminar was then conducted in November with a total of 124 participants.
“We are very happy that Yanmar is making the effort to reach out to us,” remarked Mr. Ha Van Binh, owner of Ha Binh Co.
For YASC, the Ha Long Bay: Cruising into the Future with Yanmar project for the 2015 YWK competition may have ended, but the company actively seeks to apply the GFRL model to similar markets, taking Yanmar to ever greater heights.
N.B. For a detailed report on the establishment of the communication center, please refer to issue IX.
