ENTERPRENUERSHIP

MINDSET PPT

➢HARJEET SINGH
➢BBA SHIFT 1 SECTION B
Boat CASE STUDY—5TH LARGEST
WEARABLE BRAND
❑ The boAt is an Indian company that deals with audio tech that mainly
focuses on products like wireless speakers, earbuds, smartwatches,
headsets, and earphones. All of them are quite accessible in terms of
price. the boAt was founded in the year 2016 by Aman Gupta and
Sameer Mehta. The main aim of the company is to provide people
with fashionable tech and be a part of their daily lifestyles. Currently,
Vivek Gambhir is the CEO of the company.
❑ boAt started its journey with the capital of just INR 30 lacs, which was
invested by the founders themselves. As per the reports of 2020,
boAt is said to be selling 14,000 to 15,000 of its products daily and
has over 2 million customers and has bale to attract the attention of
their customers by developing a wide range of earphones, wireless
speakers, Airdopes and headphones. The quality and the price make
it more approachable to its target audience.
AMAN GUPTA– KEY PERSON
BEHIND THE SUCCESS OF BOAT
oOne of its founders Aman Gupta was familiar with the electronics trade. He
worked for three years (2007-10) in his family business. Before joining the
business, he had completed his Chartered Accountancy and worked in
Citibank between 2003 and 2006.
oIn 2010, he enrolled for a MBA at the Indian School of Business (ISB) which
led to his placement at KPMG, the auditing firm. He worked there for a
brief period of six months but those were enough to affect him. He was
fascinated by electronics and gadgets and applied at JBL. The company
signed him for two years. Gupta managed the start-up’s offline distribution
through stores such as Croma and Reliance Digital. A little later, he also got
into product management. His job was to identify the right products for the
Indian market. His learnings while working for JBL came in handy during
product developments at boAt.
BRAND & LOGO FOUNDER

• AMAN GUPTA
• SAMEER MEHTA
PRODUCT RANGE
MARKETING STRATEGY:--
▪ The company focused on 3 important market strategies to create a good consumer base -
▪ Consumer's Needs
▪ Consumer's Desires
▪ Consumer's Behaviour Pattern
▪ The founders implemented their research on the products and made the products affordable,
durable, and fashionable. boAt focuses on building a customer-brand relationship where it
considers the buyers as a member of the Boat family. They also focused a lot on the brand Boat
and presented it as an Indian brand. For the marketing of the brand, boAt decided to
appoint cricketers and other celebrities as the brand ambassadors of Boat because the Indians
are very fond of cricket and Bollywood films. All of these helped the company create a
considerable consumer base and become a billion dollar company in India with smart pricing and
attractive looks. Boat now claims of selling four products every passing minute.
❑Some other strategies that helped boAt climb the ladder of success in the audio
segment of the Indian market are:
❖Keeping the customers first - Boat has decided to term its users "boatheads", thereby
making them a part of their clan instead of keeping them anonymous.
❖A range of improvisations - Boat is known for its innovations and improvisations. The
company carved out an indestructible cable for the Apple mobile users after discovering
the endless complaints of the Apple charging cables. As soon as it sensed the urgency of
sports and fall-proof headphones, boAt immediately moved out to build them, which are
now available in a variety of colors.
❖Posing as a lifestyle brand - Boat marked them as a lifestyle brand rather than calling
them as a consumer electronics brand.
❖An ever-expanding catalog of products - Boat products are ever-increasing. From cables
to chargers to audio products, boAt is simply bringing new products powered by
innovative technologies and awesome designs.
❖Targeting their customers - The youth and millennials are the target customers of the
brand and the company is making sure to impress them at any cost. This is the way the
company is speedily steering forth.
❖Digital marketing - The company has distinctively stayed away from the traditional
media, thereby choosing the digital way for marketing. Social media platforms like
Facebook and others have solely become the pillars of success for Boat.
FUNDING INVESTORS
COMPETITORS
 Boat - Startup Challenges
• Boat started as a bootstrapped company in the initial years with a
funding of around Rs 3 lacs from the founders and had to struggle
initially for raising funds. Apart from this, the company faces
numerous challenges day in and day out when it comes to
manufacturing trendy products at affordable rates and bringing them
to the market that is already packed with equally able competitors.
Boat - Awards and recognitions
• Boat was awarded and recognized on numerous occasions by a list of
organizations, here's a look at some of the most prominent awards
and recognition of the brand:
• The company was declared as the "number 1 brand for truly wireless
and earwear in India in 2020"
• It was noted as the "5th largest wearable brand in the world in 2020"
• Boat boasts of being the official audio partner for 6 Indian Premier
League (IPL) teams in 2021
• It has partnered with a wide range of celebrities and cricketers from
Hardik Pandya to Diljit Dosanjh and Jacqueline Fernandez.
 OVERALL CONCLUSION
• “Our product is excellent and coupled with outstanding marketing,
that is what is the secret to our success,”
➢ Aman Gupta, CEO and Co-Founder, boAt
• “We have tried to change the consumer mindset. We don’t sell our
products as electronics only. We sell them as lifestyle accessories.
We are trying to portray that our products can be a part of your
everyday fashion.”
➢- Aman Gupta, CEO and Co-Founder, boAt
• We are like Zara of electronics, not highly-priced like luxury brands or
cheap like Chinese products”
➢- Sameer Mehta, Co-founder, boAt
THANK YOU☺☺☺