Programme:- BBA

Semester:- 2
Name:- JAIN HARDIK MAYUR
Roll Number:- 2114501175
University Mail ID:- jain.2114501175@mujonline.edu.in
Course Name and Code:- Term Paper
(DBB1206)
Topic:- Marketing Management
Company:- BOAT
 Section A

Executive Summary:
The traditional way of marketing the products through hoardings and boards are changed into
digital formats. People prefers marketing through internet for their products. And this need of the
people is satisfied exceptionally well by boAt.
Initially started their business in 2016 by selling chargers and charging cables, boAt found that
there is a huge gap in the price range of earphones and headphones market. There are premium
brands which are very expensive or cheaper products which are of low quality. So they bridged
the gap by providing affordable and fashionable earphones and headphones.
The aim of boAt is to create a Lifestyle Brand, so people can use their products in their daily
routine. Taking in consideration the target customers, boAt markets their products through internet
and social media by appointing Youth Icons from Bollywood and Sports (cricket).
Because boAt knows their target customers, they collaborated with some huge brands and events
such as Marvel, DC, Sunburn, etc. This all marketing techniques and strategies helped boAt in
grabbing the maximum market share of “Truly Wireless Stereo” by holding 27.3% of total market
share. It also helped the company in being no.1 brand of India in “truly wireless earwears” and 5th
largest wearable brand, globally.
boAt has its own struggles in their journey, but today it is a profitable company since last 5 years
and had served 800000 + customers in a very short period.
“Which things boAt had did for their massive success?”
“What are some unique marketing techniques applied by boAt?”
Let us understand and analyze those things as follows.
 Section-B
I. INTRODUCTION
Marketing Management and Marketing Mix:
The process of Planning, Executing, and Tracking the marketing strategy of a company is called
as Marketing Management. It includes the marketing plan, campaigns and tactics used to create
and meet the demand of the target customers to earn maximum profit. Today’s world is full of
marketing, advertisement, etc. From the big companies who nowadays prefers digital marketing
and TV ads to local stores who use word of mouth and display marketing through baners and
boards, it is become very essential for every business to market their product or service.
A set of tools, actions or strategies a company uses to promote and sell its products or services is
called as Marketing Mix. Professor Neil Borden had stated marketing mix but it was popularized
by Edmund Jerome McCarthy by developing the 4Ps of marketing mix. Also Boom and Bitner
further extended this 4Ps of marketing mix into 7Ps of marketing mix. The 7Ps of marketing mix
are as follows:-
1. Product:- A tangible or intangible goods (services) offered by the company to its customers
for sales is called as a Product. It is the most essential ‘P’ of the marketing mix. A Product
should be made in such a way that it will satisfy the customer needs.
2. Price:- The amount in which the company sales its offered product or services is called as
the Price of the product. It plays a vital role because if the price is charged very high then
every customer cannot afford the product and if it is kept very low then the profit margin
of the company will also be less. So price should be set in such a manner that it is affordable
to customer and profitable to the company.
3. Place:- It means the distribution point of a product, that where it is available in the market.
A product should be placed well in the stores or on the internet so that the targeted customer
customers can see it and purchase it.
4. Promotion:- It is the 4th and essential ‘P’ of the marketing mix. Promotion of a product
means combination of advertisement, digital marketing, exhibitions and all other elements
which are necessary to reach to the consumer. A good promotion strategy leads to
maximum reach of the product to its targeted customer which leads to maximum buying.
5. People:- People is an asset of the company. The employees of the company should be
trained in such a way that they can give business a decisive edge over the competitors. A
Service based industry is more dependent on people. So the selection, training and
placement of the people in the company should be perfect.
6. Process:- It means the flow of all the activities that how it works without any interruption.
The activities in the company should be flow in ease. A process should be developed in
such a way that meets the expectations of customer. It is also an important aspect for the
Service based business.
7. Physical Evidence:- This is the last element in 7Ps of marketing mix. This is also mostly
based on service industry. People cannot believe your products or services until they get a
proof. So physical evidence is necessary for those customers.
About BOAT:
The boAt is an Indian Company that sells audio-focused electronic gadgets like earbuds, wireless
headphones, wireless speakers, smart watches, premium rugged cables and many more
technological accessories.
Company Name boAt
Headquarters New Delhi, India
Sector Electronics and Fashion
Founders Aman Gupta and Sameer Mehta
Founded in 2016
Funding $116.3 mn (December 2021)
Valuation $299.59 mn (INR 2200 Crore) as of April 2021
Revenue $206.07 mn (INR 1531 Crores in FY21)
Website boat-lifestyle.com

The Boat is a Delhi based startup founded by Aman Gupta and Sameer Mehta in 2016.

It’s legal name is “Imagine Marketing Services Pvt. Ltd.” It is also called as “Nirvana Boat”. The
founders wanted to create boat as a lifestyle brand, which would bring fashionable audio products
and accessories to the people. Initially, the company had started its journey by manufacturing and
selling premium charging cables, which had expanded its inventory in earbuds, smart watch,
wireless headphones, wireless speakers, etc. and now caters more than 800000 customers (as per
report in 2020). The boAt had started as a bootstrapped company in its beginning with a funding
of nearly Rs. 300000 from its founders and had struggled a lot in its initial period for raising funds.
Also the company had faced many challenges in manufacturing trendy and fashionable products
at affordable cost and bringing them to the market with equally able competitors. But today, boAt
is hailed as India’s no. 1 earwear audio brand and ranked as 5th largest wearable brand globally
since December 2020.
boAt Ownership and Shareholding Pattern:- Aman Gupta is the co-founder and the
CMO of boAt. He is a Chartered Accountant and he had a working experience in JBL,
which helped him a lot in the success of boAt. Sameer Mehta is also the co-founder and
the CPO of boAt. He co-founded Imagine Marketing Pvt. Ltd. in 2014 which is a parent
company of boAt. The majority of boAt stakes are held by Warburg Pincus, which is
36.48% of the company’s shares. Following by the founders Aman Gupta and Sameer
Mehta which holds 28.1% each of the company’s shares. The ownership pattern of Boat
company is explained by the following Pie Chart.

boAt's Shareholding
3% Pattern
1%
4%
Aman Gupta
Sameer Mehta
28%
Warburg Pincus
36%
Fireside Ventures

28% Qualcomm Ventures

Others

boAt - Logo and Tagline:- The logo of the company is as same as its name which is a
boat of red color with a black background which is very attractive and catchy to the eyes.
The tagline of boAt is, “Plug into Nirvana”. Nirvana means attaining complete Peace and
Freedom, which the company aims to extend to the audiophiles of the country and the other
users. The tagline of the company is also very appealing to the customer.

boAt – Vision, Mission and Objective:- As the logo and the tagline, the vision and
mission of the boAt is also clear and concise. The vision and mission of the company is,
“bringing affordable, durable and most importantly fashionable audio products and
accessories to millennials”. The customer satisfaction by providing good quality products
and services is the major objective of the company.
 boAt – Business model:- The company retails at Croma outlets. boAt sells their products
on the major e-commerce sites of India which are Flipkart, Amazon, Myntra, Meesho, etc.
Also boAt sells their products through its own website. The company has its products in
more than 5000 retail stores and supported by more than 20 distributers. Within a short
period of span it has gathered more than 800000 customers and it has been a profitable
business for 5+ years straight. boAt has various competitions in market such as Oneplus,
Realme, Noise, etc. but still it conquers highest market share than the competitors which is
27.3%.

II. OBJECTIVES OF THE STUDY

Further in this term paper, we are going to study about the following objectives:-
➢ We will study about boAt and 7Ps of Marketing mix.
➢ Revenue and Expenses Breakdown of the company.
➢ Marketing and Advertising Strategies of boAt.
➢ boAt – Collaborations and Sponsorships.
➢ Some Growth Milestones of boAt.
 III. Review of Literature

boAt and 7Ps of Marketing Mix:

There are 7Ps of marketing mix which we had studied above, let us study it again by taking
consideration the company “boAt”.
1. Products:- An offering which a company offers for sell is called as the Product. A good
company always have good products. boAt sells various products such as wired earphones
and headphones, wireless earphones and headphones, wireless speakers, smartwatches,
premium charging cables, etc. The distinct design of its each product and the quality it
provides, definitely satisfies the expectations of the customers. Also there are various types
of products in its each category of product. They have various features in its products like
they have in built mic system in their earbuds, calling facility through their new
smartwatches, etc. The each and every product of boAt is easy to carry (portable). Some of
the top selling products of boAt of each category are as follows:

2. Price:- Price is the most important factor in any product. Price decides that whether a
particular product will run in the market or not. The prices of boAt’s products are very
affordable to buy for a common man. They had not set the price of their product very high.
Also boAt provides very offers and coupons to their customers through various e-
commerce sites, so the price of the product becomes very less at the time of sale. Generally,
the starting price of boAt earphones is Rs.699.
3. Place:- The company has to choose the place to sell its product in such a way that it can
reach till their targeted customers. Place plays a prominent role in sale of a product. The
boAt markets their products through some big e-commerce sites like Amazon, Flipkart,
Myntra, etc., in the outlets of Croma and through their own website. Also boAt had its
products in more than 5000 retail shops which are supported by more than 20 distributers.
Generally Flipkart and Amazon or the company website is preferred by the customer.
4. Prmotion:- It means the combination of marketing, advertisement, exhibitions, etc. of the
product or service to reach till the potential customers. boAt has good promotion strategy
and it plays a very vital role in capturing the maximum market share. They promotes their
product through Digital marketing like “social media marketing”. They also promote their
products through some TV advertisements. They have collaborations with various
influeners and cricketers too on social media which plays important role in promoting their
products.

5. People:- Every company or organization is called as People’s organization. Manpower

plays an important role in every aspect. A successful company always had quality
employees. boAt had good manpower and also good leaders like Aman Gupta and Sameer
Mehta who trains and motivates them always, to give their 100% which helps to boAt in
becoming India’s no. 1 earwear brand.
6. Process:- The flow of all the activities in a perfect manner is called as Process. The process
should be flows with ease and without any interruption. When you order any product from
boAt it provides delivery within 7-14 days and same day delivery to the prime customers.
Also there is free shipping on almost all products. boAt provides very good after sale
services. Almost all the products of boAt have a warranty period of 1 year, if the products
stop working or have any technical problem within 1 year, then boAt provides free repair
or replacement of their products to their customers. Also this warranty claiming or
replacement process of boAt is very simple and easy.
7. Physical Evidence:- Physical Evidence is proof. Though boAt was new company in the
market (4 years back), so its not easy for the people to trust the company and buy products
from it. But when people started buying it after watching their ads on television and social
media, many people loved the products and they posted some good reviews and feedback
for the company. Those feedbacks and review is now working as a physical evidence for
new customers.
Revenue and Expenses Breakdown:
boAt has been a leading seller of wearables and audio accessories in India for the last couple of
years. They are also planning to launch their IPO on a valuation of over $1.4 billion. boAt has
registered a 2.2X surge in operating revenues which grew from Rs. 700.44 crore in FY20 to Rs.
1511.7 crore in FY21. It’s highest selling product categories are Earphones and Headphones. boAt
sold earphones and headphones worth Rs. 1120 crore in FY21. Wireless earphones and
headphones has conquered the most i.e. 62.7% of its total operating revenue during FY21. The
sale of wireless earphones and headphones grew by 2.5X to Rs.947.4 crore in FY21 from Rs.375.7
crore in FY20. The wireless speaker is the second largest contributor in company’s revenue by
20% . The sale of boAt’s wireless speakers had grew the most by 2.6X from Rs.113.2 crores in
FY20 to Rs.297.4 crores during FY21. The revenue contributed by wired earphones and
headphones, charging cables and other items is less, which is explained in the pie chart given
below.

boAt imports goods worth Rs.1316 Crore in FY21 from China. The company designs its products
in India but manufactures and assembles it in China. The expense of procuring its stock in trade is
the single largest cost incurred by the company, which is nearly 73% of the annual expenditure.
This expenses grew by 2.3X to Rs.1034.03 crore from Rs.452.5 crore in FY21. The cost of Freight
and Distribution is 8.1% of annal cost. boAt outsources its warranty claims and after sale services
by third party contractors and they also grew by 93% from Rs. 27.3 crore in FY20 to Rs.52.7 crore
in FY21. The following pie chart explains the Expenses Breakdown.
Marketing and Advertising Strategy of boAt:
1. Expanding Range of Products:- Some company launch a product, gain success and fizzle
out as they fail in expanding their catalogue. Expanding your product catalogue is a good
marketing strategy in itself and boAt has been phenomenal in that. They first made apple
charging cables and chargers and after tasting the success, they never looked back. They
introduced earphones, which was followed by wireless speakers and headphones. With this
continuous expansion, they were able to capture a large market share.
2. Digital Marketing:- boAt’s marketing strategy was very different and that’s the main
reason of their today’s success. While other brands are marketing their products through
television ads, boAt started digital marketing. They usually runs their ads on Google and
social media like Facebook, Instagram, etc. Interestingly, all customers of boAt are reffered
to as ‘boAtheads’. The company has also appointed many youth icons from Bollywood
and Sports (Cricket), like Kiara Advani, Kartik Aryan, KL Rahul, Shreyas Iyer, etc. to
advertise their products on social media and gaining trusts of the customers.

3. The Perfect Targeting:- boAt products are affordable to buy. Few years back, the market
had either premium brands or cheap ones. The blend of two was rare. boAt addressed that
gap with its products that attracted the youth. They know their target customers so they
appointed youth icons of bollywood and cricket to market their products.

boAt – Collaborations and Sponsorships:

Apart from appointing youth icons in marketing the product. boAt also collaborated with some big
brands and events keeping in mind their target customers (youth). The company is collaborated
with Marvel (boAt X Marvel), Sunburn (boAt X Sunburn), etc. Also boAt has partnered with six
teams in IPL. Currently, in the “Big Fashion Festival (Navratri)” of Myntra, boAt is their Title
Sponsor. boAt is special partner in the show “Koffee with Karan S7” too.
Some Growth Milestones of boAt:
❖ The boAt has gathered 800000+ customers within a short span of 4 years.
❖ It claims to add one boAthead to its family within every 3 minutes that pass.
❖ The company sells 4 units every minute and over 6000 units each day.
❖ boAt was declared as the leading brand in the earwear category, with 27.3% of the total
market share.
❖ The business has been profitable for 5+ years straight.
❖ The boAt has its products in 5000+ retail stores and supported by over 20 distributers.
❖ The company was declared as the “no. 1 brand for truly wireless and earwear in India
2020." Also it was noted as the "5th largest wearable brand in the world in 2020”.

IV. SWOT Analysis

1. Strengths:- The strengths of boAt company are its products. boAt has a very wide range
of products. Also they have various editions in their products like boAt X Marvel, boAt X
DC, etc. The designs of their products are very unique and attractive.
The other strength of boAt is its Pricing strategy. The price of boAt products are set in such
a way that they are affordable to the customers.
Also, boAt has a very solid marketing strategy. This is the biggest strength of the company.
boAt used digital marketing and social media marketing to market its products. And they
appointed youth icons from Bollywood and Cricket to advertise their products because they
know that their target customers are mostly youths.
2. Weaknesses:- boAt has also some weaknesses. They creates designs of their product in
India but manufactures and assembles the product from China. India, today has not strong
relations with China and if things goes wrong, India will ban imports from China, just like
they banned PUBG, Tiktok, etc. And if this happens, then boAt will suffer. So, they should
make the products in India which will also increase the GDP of the country.
boAt should also control its marketing strategies. They are continuously adding new youth
icons for advertising their products which is a good marketing strategy but also it is very
expensive. The advertising and promotion expenses of the company is increased by Rs.51
crore in FY20 to Rs.146.80 crore in FY21.
boAt products have a warranty of one year and if the products gets damaged or any
technical problem arise within the warranty period, then they give free repairs and
replacements to their customers. In repairs, they outsource it through third party or
contractors which also increase expenses. They should hire employees who can repair those
products, so outsourcing expenses will be reduce.
3. Opportunities:- boAt has an opportunity to enter into premium market. The products of
the company are affordable to middle class customers but they can also produce a new
range of products to target the premium or high class customers.
 Another opportunity for boAt is to expand their product line. Currently boAt sells earbuds,
headphones, wireless speakers, smartwatches, etc. boAt can also enter in smart device
market like “alexa smart speaker”. They can built a different software and make products
like alexa which can be use as speaker and we can also connect it with home appliances to
make it a smart home. Also they can start to produce “Smart Ring” which works as similar
to the smart watch.
4. Threats:- Today, the electronic market is changing rapidly. boAt has too many competitors
which sells similar products like noise, oneplus, firebolt, P-tron, etc. Everyone has almost
a similar price range, similar marketing strategy, so it is difficult to survive in the market
with holding the maximum percentage of market share.
As I said earlier that boAt imports products from China and if things goes wrong in future
and India banned the imports from China, it will become a huge challenge in producing the
products.

V. Discussion / Practical Implications

boAt is a leading brand in earwear in India. The whole story from its startup, to its marketing and
pricing technique is very inspiring. They have many struggles in their journey but they fought with
it. boAt is a profitable business and its future is also looking very bright. But one thing which I
still figuring out is, being a company of Rs.2200 crore (valuation), is buying their products through
China. My suggestion to boAt is to start their own manufacturing and assembling unit, which will
lead to earn maximum profit and market share. And also will lead to reduce the cost of the product.
Also the company outsourcing the repairs of the damaged products to third parties or contractors,
so they should also start to repair their products at their own by hiring specialists or engineers
which will also led to reduce the expenses of the company.

VI. Scope for Further Studies

boAt is a no. 1 earwear brand in India and I had only studied about the Marketing mix, marketing
and advertising strategy, their revenue and expenses model, collaborations and sponsorship and
some of their achievements. But there are even more topics to be studied on the boAt company
like how they handle their employees by “Human Resource Management”, quality controls and
continuous improvement through “Quality Management”, internal and external environment of the
company through “Business Environment”, company’s final accounts, statements, journal entries,
through “Financial accounting” and so on. There is a huge scope in further studies in the boAt.
Anyone in future can take any of the above topic, do some research and analysis on that and can
make a good report or term paper like this.

VII. Conclusion
boAt markets their products as a Lifestyle brand. boAt is no. 1 in India in wireless earbuds. It has
a very strong marketing strategy. The price of its products are affordable and the products are very
fashionable and attractive. But boAt also had many competitors, which are also using digital
marketing and affordable pricing, so it will become a bit difficult for boAt to hold the maximum
market share. boAt can also expand their inventory by producing smart rings, smart speakers (like
alexa), etc. At the end of this term paper, I want to say that, I personally like all products of boAt
because of its beautiful designs, quality products and affordable pricing.

References:
• boAt – lifestyle (boAt’s official website – www.boat-lifestyle.com )
• Start Up Talky – boAt success story (https://startuptalky.com )
• Failure before success – boAt company (https://failurebeforesuccess.com )
• Chandigarh Institute of Internet Marketing – boAt case study (www.ciim.in )

Section C

Answer for Viva Questions

Q. 1 What prompt you to choose this topic?

Answer→ I want to choose the topic in which I have the maximum interest. If I had interest in any
topic then I will put my 100% in that. So while selecting the topic I kept the following points in
my mind:
❖ Digital Marketing:- Before starting BBA, I had a lot of interest in marketing, especially
digital marketing. I had done a course of Digital Marketing from “Google Digital Garage”,
so I have some knowledge of that too. Also, Digital marketing is the future of our country
that’s why I chose marketing management as my term paper’s topic.
❖ Social Media Marketing:- Social Media Marketing is the best way of marketing in today’s
world. Even I work as a freelancer and I had made few websites of businesses, I handle
some social media accounts of the local businesses too. Keeping in mind all this things, I
chose Marketing Management as my topic in this term paper.
After choosing the topic Marketing Management, the next step is to choose the company. I had
three-four companies in my radar, but the marketing strategy boAt has used is very unique so I
choose it as my company for term paper.

Q. 2 How would you have connected objectives of your topic with the review of literature?
Answer→ The main purpose of the review of literature is to provide the information that is
collected and used for the discussion on how internet and social media has played a massive role
in marketing a product. It has been a new way to market the product and target the potential
customers. This type of marketing is used by the companies nowadays, because they know that
the world today is changing and people want everything through their comforts of home and on
few clicks. The users of internet and social media are also increasing day-by-day in India. This
thing is keep motivating the companies to market the product where the audience is huge. The
review of literature provides information about the 7Ps of marketing mix, that what is the product,
price, place of distribution, promotion strategy, role of people, flow of process and physical
evidence of boAt. Also it has a unique marketing strategy which helped in providing information
about the objective of marketing and advertisement strategy. The objective of expenses and
revenue breakdown is connected by providing information about the company’s product which
earns highest revenue and the field in which company has the most expenses. And boAt’s
collaborations with marvel, DC, sunburn, etc. and its growth achievements like being no. 1 in
wireless earphones and many more has connected the objectives with literature review.

Q. 3 What are the challenges you faced while conducting your term paper data collection?
Answer→ Creating this term paper on marketing management of boAt is very exciting but also
challenging for me. The challenges I faced in making and collecting the data of term paper are as
follows:
i. The first and foremost challenge is to select the right company for the term paper which
can connect with my topic “Marketing Management”.
ii. According to me, the topic should be more effective in this term paper and data also should
be clear and correct and should be connected with the topic and company.
iii. Its important to find out the correct data from the internet, so I searched a lot.
iv. After I got the data, the main thing was to reduce it, consider only those points which are
most important.
v. Then the most important thing is to make the term paper more attractive by adding pictures,
pie charts, etc. with the selected data.
vi. Also one more challenge is to write the whole term paper in the given format like within
15 pages, the size of the file should be less than 5mb, etc.

Q. 4 How can you relate objectives of your study with conclusions through the SWOT analysis?
Answer→ The SWOT analysis is a type of survey and it is most important for not only new but
existing companies too. This gives us an idea about the companies Strengths, their weaknesses,
opportunities and future threats. As per the SWOT analysis of boAt company, it is clear and can
be seen that the Strengths and Opportunities have a strategic advantage as compare to the
weaknesses and threats.
But it is important for the company to maintain its strength even more powerful, use the available
opportunity and make it as a strength, analyze the weaknesses carefully by doing brief study on it
and try to avoid the upcoming threats using certain methods.
Now, in the above case of boAt, their vast range of products, affordable pricing and solid marketing
strategy are their strengths. They have few opportunities in expanding their product line by adding
smart rings and smart speakers into it and also they should start to manufacture some products to
target the premium class of people. So the company should keep an eye on their opportunities and
grab it before their competitors to earn maximum profit and market share. Some weaknesses are
their imports from China and outsourcing of damaged products, so the company should look upon
their weaknesses and try to convert it into strengths. Also the big threat is the competition, so the
company should also monitor them and be the best out of them.

Q. 5 How would you bridge the gap in your term paper and industry practice?
Answer→ According to me and my research on boAt, I will do some following things to bridge
the gap between the term paper and the industry practice:
▪ Stop Importing goods from China:- I am saying on this topic since the start of the term
paper because it is very important to produce the product in our own country. This will
reduce the expenses of the company and increase the GDP of the country. boAt designs the
product in India, but assembles and manufactures it in China. So they should invest some
money in their manufacturing department and slowly-slowly they should start their
production in India.
▪ Outsourcing of damaged products:- boAt makes electronic products and gives a warranty
to their customers of 1 year. Sometimes, the product gets damage and customer claims
warranty, so boAt outsource the repairing of that product through third party contractors,
which leads to rise in expenses of the company. If they start repairing the damaged products
in their own company by hiring the specialists, then it will reduce the cost and it will be
beneficial for the company too.
This are the only points in which, I think that corrections should be done, but other than that, boAt
is no.1 brand and it will sustain at no.1 if they will follow their instincts.

_________________________________THANK YOU_________________________________