Marketing strategy implemented by boAt for being a step ahead

Marketing strategy implemented by boAt for being a step ahead

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 Marketing strategy implemented by boAt for being a step ahead

A CASE STUDY REPORT ON

Marketing strategy implemented by boAt for being a step ahead

UNDERTAKEN AT

BALAJI INSTITUTE OF MODERN MANAGEMENT

(BIMM)
PUNE

SUBMITTED BY
TEJASWINI YADAV
(BUSINESS ANALYTICS)
MM2022207
(BATCH: 2020-2022)

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 Marketing strategy implemented by boAt for being a step ahead

STUDENT’S DECLARATION

This is to certify that the case study report entitled “Marketing strategy implemented by
boAt for being a step ahead” has been prepared by Tejaswini Yadav. This project report has
not been previously submitted for the award of any Degree, Diploma, Fellowship, or other
similar titles.

Place: Pune
Date: 30/03/2022

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 Marketing strategy implemented by boAt for being a step ahead

CONTENTS
ABSTRACT:.............................................................................................................................5
INTRODUCTION:...................................................................................................................6
MAIN CONTENT:...................................................................................................................7
IMPROVEMENTS AND A CONSUMER-FIRST APPROACH:...................................7
PORTRAYING boAt AS A LIFESTYLE BRAND:..........................................................7
CATALOG IS CONSTANTLY EXPANDING:................................................................7
TARGETING THE RIGHT AUDIENCE:.........................................................................8
ONLINE MARKETING:.....................................................................................................8
ANALYSIS:...............................................................................................................................9
LEARNING OBJECTIVE: -.................................................................................................10
CASE SOLUTION:................................................................................................................11
CONCLUSION:......................................................................................................................12
REFERENCES:......................................................................................................................13

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 Marketing strategy implemented by boAt for being a step ahead

ABSTRACT:

Listening to good music is the best way to pamper ourselves, and if you are listening on a
boAt device, it's a cherry on top. This lifestyle brand's revolution has provided us with
economical, trendy, and high-quality gadgets. Developing a best-in-class solution
necessitated balancing complicated and competing requirements. By being molded to fit an
individual's ear shape, custom-molded earbuds offer comfort and a nearly undetectable look.
However, because ear shapes vary so greatly, producing the same outcomes in a universal-fit
device is significantly more challenging. Despite the fact that worldwide companies continue
to dominate the luxury headphone category around the world, the inexpensive category
remains essential in India due to consumers' price sensitivity. So, in this case study, we'll
examine at the strategies that BoAt used to achieve success.

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 Marketing strategy implemented by boAt for being a step ahead

INTRODUCTION:

BoAt is a consumer electronics brand located in India. It was founded in 2015 2013 by co-
founders Sameer Ashok Mehta and Aman Gupta and sells earbuds, headphones stereos,
portable chargers, and luxury robust cables.
In 2020, Bollywood actors Kartik Aaryan, Kiara Advani, and Diljit Dosanjh supported the
brand on social media. Beyond Bollywood, the company recruited other micro-influencers
from India's music, dance, and sporting communities, as well as capitalizing on the country's
cricket obsession by becoming the audio partner for six IPL teams and employing cricketer
Shreyas Iyer as a brand ambassador.

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 Marketing strategy implemented by boAt for being a step ahead

MAIN CONTENT:
There is no single slogan for success. To construct a line, you must connect numerous dots. In
terms of the process, boAt is no exception. However, they changed their approach from the
beginning itself, when they projected themselves as a lifestyle brand, and they continued to
improve. There are various variables that contribute to boAt's success. So, let's talk about
them. 

IMPROVEMENTS AND A CONSUMER-FIRST APPROACH:

The company has a specific term for its user community. Anyone who owns a boAt product
gets anointed as a boAt head and becomes a member of the boAt community This provides
users a sense of belonging. The company believes on closely observing users’ demands and
producing goods in response. Its first product was an unbreakable charging cable and charger
for Apple. The product was created after the founders recognized the need for it. 

"The Apple cable used to break near the charging end," Sanjeev Mehta explained (near the
connectors). People used to make do by tape over the problem. As a result, we developed a
robust, braided cable with a life period of 10,000 bends." Over the last three years, some
major discoveries have been that people are increasingly asking for sports and fall-proof
headphones, and that boAt's products were becoming dull. As a result, the startup produced
fall-proof headphones as well as intriguing color options for their goods. 

PORTRAYING boAt AS A LIFESTYLE BRAND:

Rather than calling itself a consumer electronics brand, the firm positions itself as a lifestyle
brand.

"We attempted to alter the consumer mindset. We do not market our products solely as
electronics. They are sold as lifestyle accessories. We're attempting to convey that our
products can be worn daily."-

Aman Gupta, CEO and Co-Founder, boAt

This tactic was on display at the 2019 Lakmé Fashion Week in Mumbai, where models wore
solely boAt items as they went down the runway for one of the designers.

CATALOG IS CONSTANTLY EXPANDING:

Following the release of the durable Apple charging-cable and charger, the company's second
product was an audio line that featured earphones. The company used vital customer
intelligence to determine that Indians prefer bass. Bass Heads were their first earbuds.
The organized earphones market was expected to be worth between $30 and $40 billion, and
it was increasing at a rate of 20 to 30 percent each year. BoAt introduced speakers in 2018,
followed by soundbars and home-audio systems in 2019. The soundbar costs $9,000 and sells
30 to 40 units per day; sales are estimated to reach 200 million to 300 million in 2019.

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 Marketing strategy implemented by boAt for being a step ahead

TARGETING THE RIGHT AUDIENCE:

Millennials' brands are boAt lives. The company offers fashionable yet reasonably priced
products that appeal to youngsters of the country. Moreover, the brand ambassadors are all
young. Much of the enthusiasm surrounding boAt may be due to its brand ambassadors, who
represent two of India's most popular obsessions: Cricket and Bollywood. The company even
creates goods exclusively for teenagers. Sports Earphones and Bluetooth Speakers, for
example, have piqued the interest of India's increasingly fitness-obsessed millennials.
Customers select items that complement their workouts, routes, hikes, and overall lifestyle.

ONLINE MARKETING:

The company has stuck to online modes for marketing products. The brand has stayed away
from conventional media like Television and newspapers. They have mostly run their
campaigns on Instagram, snapchat, FB and other social media networks. One of the founders
cited that the reason behind marketing online is because the millennials prefer online and use
social media more than the other age groups. Pankaj Mirchandani, managing partner at
Rhythm Corner Alaknanda (RCA), a marketer and distributor of electronics in India, says,
“What has worked for boAt is the community of fans they have built online, which is quite
commendable”. There is now an online community of boAt heads with around 80,000
members at present. The company also uses Celebrities word-of-mouth as their marketing
strategy. 

 "Our product is fantastic, and that, combined with outstanding marketing, is the secret to
our success,"

- Aman Gupta, boAt's CEO and Co-Founder

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 Marketing strategy implemented by boAt for being a step ahead

ANALYSIS:
According to data from market intelligence firm Kalagato, boAt, a six-year-old company that
offers headphones, earbuds, and speakers, held a 37 percent share of the personal audio
devices segment in India in 2020. At 8%, Chinese brand realme came in a distant second.
According to Hong Kong-based Counterpoint Research, three of the top five audio wearable
models sold in India in the first three months of 2021 were boAt's.
Though worldwide brands such as Bose Corporation, Sony Corporation, and Bang & Olufsen
continue to dominate the luxury headphone area, the inexpensive category is critical in India
due to consumers' price sensitivity. In fact, before to the advent of boAt in 2015, there were
very few branded low-cost headphone options for Indians. Every four minutes in 2019, boAt
sold a speaker.
"Before boAt, it was difficult to obtain excellent headphones for Rs600 to Rs2000 ($8 to
$27)," Kalagato explained. "Using an e-commerce-led sales technique, they created a
wonderful product in this sector and generated a strong brand."

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 Marketing strategy implemented by boAt for being a step ahead

LEARNING OBJECTIVE: -

To sum up all this:

1) A boAt geared toward online sales. While other Indian firms concentrated on the
offline sector.
2) They targeted India's youngsters. Online purchases by young people outnumber
offline purchases. Most significantly, youngsters know more about specifications than
older people, thus they advise their parents on purchases.
3) Whereas other companies only sold black or white products, BoAt expanded their
colour palette.
4) They do offer charger-like products, but at the outset, the boAt was mostly focused on
the earphone industry.
5) Because Indians enjoy bass music, BoAt created bass-friendly earphones.
6) They positioned themselves as a lifestyle brand. Instead of merely using earphones,
they designed a wearable ecosystem.
7) Their entry-level earphones start at $299. As a result, this is incredibly cost effective.
In today's world, many households have several devices; if a person purchases a
particular product, there is a good probability that person will also purchase for their
family members if necessary.
8) They made the entry barrier as low as possible. If a consumer purchases a boAt basic
earphone for $299 and finds the product to be satisfactory, they will purchase a higher
value product, such as an earbud, wireless, or speaker, from boAt when the need
arises.
9) After 2018, BoAt engaged brand ambassadors such as Neha Kakkar, Hardik Pandya,
Kartik Aryan, Jacqueline, Kiara Advani, and KL Rahul.
10) They were enticed to participate in the fancy IPL advertisement. They began
sponsoring IPL teams, and they also sponsored various music videos under the labels
of T series, Zee Music, and others.
11) boAt highly invested in social media platforms like Facebook, Instagram, and
YouTube. They formed a fan club centered on the boAt, just like Redmi did with its
phones.
12) Unlike other brands, which only provide a 6-month warranty, BoAt provides a 1-year
warranty for the same or lower price.
13) The boAt does not have manufacturing in India; instead, it is designed in India and
imported from China. They saved a lot of money because of this.
14) While Chinese companies were competitive in the smartphone sector, they were not as
aggressive in the earphone market.
15) The absence of any other good Indian brand capable of producing India-specific
products.
16) The earphone market does not necessitate a large investment in research and
development. A smartphone's specifications become obsolete within a year; however,
earphones do not require as much updating.
17) lower costs for product development.
18) Following the debut of the boAt, smartphone manufacturers discontinued the
distribution of free earphones with phones. As a result, there was a vacancy in the
market.

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 Marketing strategy implemented by boAt for being a step ahead

CASE SOLUTION:
boAt has just recently entered the market, yet it has already acquired a substantial percentage
of it. The hallmark of boAt lifestyle is the availability of fashionable as well as long-lasting
products. Their market impact has been so significant that the popularity of boAt goods has
caused huge corporations like JBL to cut the costs of their products to compete in the
inexpensive audio niche. It's intriguing because, as previously stated, Aman was a former
employee of JBL. 

Technology has improved our lives and is the most powerful facilitator in the world we live
in today. boAt Lifestyle aspires to be at the forefront of advancements in the audio industry.
The brand does not appear to be stopping, but rather embarking on an exciting path. In an
interview, CEO Aman Gupta stated that he is optimistic about coming out of the epidemic
strong and regaining momentum.

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 Marketing strategy implemented by boAt for being a step ahead

CONCLUSION:

It has been 6 years since boAt was created, and throughout that time, it has captured the world
of electrical gadgets in an enthralling way. It has established itself as the world's fifth largest
wearables brand and the number one audio earwear brand in India. BoAt has achieved
enormous success by properly implementing all branding techniques and carefully picking
their target demographic, and it is only going to get bigger and better in the future.

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 Marketing strategy implemented by boAt for being a step ahead

REFERENCES:

https://qz.com/india/1997153/indias-boAt-beats-chinas-realme-and-oneplus-in-headphone-
sales/

https://essentialdesign.com/case-study/shure-se-earphones/

https://www.analyticssteps.com/blogs/success-story-boAt

https://www.boAt-lifestyle.com/pages/who-are-we

https://golden.com/wiki/BoAt_(company)-9MR3

https://www.quora.com/What-is-the-success-story-of-the-Indian-audio-brand-BoAt

https://thedigitalyug.com/startup/boAt-lifestyle-brands-full-analysis-useful-information

https://www.wired.com/gallery/best-wireless-headphones/
https://gadgets360.com/audio/popular-earphones

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