Professional Documents
Culture Documents
Yash Kansara
TABLE OF CONTENTS
Introduction.......................................................................
1. Executive Summary....................................................
2. Company Overview.....................................................
3. Business Description...................................................
4. Market Analysis...........................................................
5. Operating Plan............................................................
6. Marketing and Sales Plan...........................................
7. Financial Plan..............................................................
Appendix..........................................................................
Instructions for Getting Started with
Estimated Start-Up Costs.............................17
Instructions for Getting Started on Profit &
Loss Projections...........................................19
INTRODUCTION
Boult's objective of elevating customer engagement and satisfaction on its D2C website
(https://www.boultaudio.com) requires a comprehensive strategy. By analyzing competitors,
conducting UX research, and implementing targeted enhancements, Boult can attract more
customers and boost orders, setting itself apart in the smart wearables industry.
1. EXECUTIVE SUMMARY
Boult, a prominent player in smart wearables, aims to optimize its website for an improved user
experience and increased orders. This submission outlines strategies and recommendations
across various areas, aligning with Boult's brand identity and audience preferences.
Competitor Landscape: Amazon and Flipkart collectively hold a 52% share of the e-
commerce market in India, with Amazon being the dominant player (Source: Statista).
Product Range: Boult offers a wide range of products, including truly wireless earbuds,
headphones, neckbands, speakers, and smartwatches.
Website Analysis: Boult's website receives total 818.3K visitors, with a bounce rate of
57.55%. Average Visit Duration - 00:02:27 (Source: SimilarWeb).
Customer Behavior Insights: Analysis of user data reveals that 70% of users drop off at
the checkout stage, indicating potential friction points.
2. COMPETITOR ANALYSIS – BOAT
LIFESTYLE
STRENGTHS WEAKNESSES
Diverse Product Range: boAt Competition Concerns: boAt
Lifestyle offers a wide range of Lifestyle competes in a
smart wearables, audio crowded market with
devices, and accessories, numerous players, making it
catering to various customer challenging to maintain pricing
needs. control and quality
Strong Brand Presence: boAt consistency.
Lifestyle has established itself Supply Chain Challenges: Like
as a leading Indian brand many companies, boAt
known for quality and style. Lifestyle may face supply
Effective Marketing: The chain disruptions, impacting
company is known for its product availability.
effective marketing and Product Diversity: While the
collaborations, resonating with company offers a wide range
a young and tech-savvy of products, diversifying
audience. further can enhance its
competitive edge.
SWOT
OPPORTUNITIES THREATS
Expanding Product Portfolio: Competition from Global
boAt Lifestyle can continue to Giants: The entry of global
expand its product offerings, tech giants into the Indian
including smart wearables, to market poses a threat to local
cater to a broader customer
base. brands like boAt Lifestyle.
International Expansion: Brand Trust and Quality:
Exploring international Maintaining brand trust and
markets and establishing a product quality amidst
global presence can unlock competition and customer
growth opportunities. expectations can be
Innovation and R&D: challenging.
Continued investment in Evolving Consumer Trends:
research and development Rapid changes in consumer
can lead to innovative and
competitive products. preferences and technological
advancements require
constant adaptation..
3. COMPETITOR ANALYSIS - AMAZON
STRENGTHS WEAKNESSES
Vast Product Catalog: Competition Concerns:
Amazon offers an extensive Amazon competes with
range of products, including numerous sellers and brands
smart wearables, providing on its platform, making it
customers with numerous challenging to maintain pricing
options. control and quality
Strong E-commerce Platform: consistency.
Amazon has a highly Brand Loyalty: While
optimized and user-friendly customers trust Amazon,
website, making it a go-to brand loyalty to specific
platform for online shopping. products or sellers may not be
Customer Trust: Amazon has as strong as with brands like
built trust and credibility over Boult.
the years, with millions of loyal Counterfeits and Fake
customers worldwide. Reviews: Amazon faces
issues related to counterfeit
products and fake reviews,
which can affect customer
SWOT trust.
OPPORTUNITIES THREATS
Smart Wearables Market: Regulatory Challenges:
Amazon can continue to Amazon faces regulatory
expand its presence in the scrutiny in various countries,
smart wearables market by which can impact its
partnering with and promoting
reputable brands like Boult. operations and market access.
AI and Personalization: Competition from Tech Giants:
Amazon can further leverage Competition from companies
AI for personalized product like Apple and Google in the
recommendations and smart wearables space can
enhanced customer intensify.
experiences. Logistics Challenges: Supply
Global Expansion: Amazon chain disruptions and logistics
can tap into new markets and issues can impact product
regions to diversify its
customer base and revenue availability and delivery times.
streams.
4. COMPETITIVE ADVANTAGE
ASSESSMENT
Above pictures shows that Boult is clearly losing in below aspects for web performance
assessments.
1. Performance
2. Accessibility
3. Best Practices
4. SEO
5. USER EXPERIENCE (UX) RESEARCH
I did a user survey with a close group including friends and family and below are my findings.
Total Sample size – 10
Male – 6 Female – 4
Age group 18-35
User Surveys Results
90% of surveyed users expressed a preference for simplified navigation.
6. WEBSITE ENHANCEMENT
RECOMMENDATIONS
Based on above analysis made from market, user and competitors here are some
recommendations for each of the key focus areas, along with illustrative examples from other
D2C brands:
8
Proposed Idea:
Advantages
Improved User Experience: Customers find products quickly, reducing frustration.
Lower Bounce Rates: Users stay on the site, reducing bounce rates.
Increased Conversions: Easier access to desired products boosts sales.
Data Insights: Helps analyze user behavior for improvements.
2. Search Bar with Filters: Implement a prominent search bar with filters that enable
users to refine their search results based on criteria like price, brand, or features.
Example: ASOS, a D2C fashion brand, offers an intuitive search bar with extensive filtering
options for clothing items.
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3. Featured Collections: Showcase featured or new collections on the homepage to
capture users' attention and drive them to explore specific product categories.
Example: Warby Parker, an eyewear D2C brand, prominently displays its featured eyeglasses
and sunglasses on the homepage.
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Advantages
Informed Choices: Users make informed decisions.
Increased Conversions: More users complete purchases.
Competitive Edge: Sets the brand apart.
Time-Saving: Convenient for users.
2. Interactive Product Demos: Offer interactive product demos or 360-degree views that
allow users to virtually explore the product from all angles.
Example: Samsung, a D2C brand for electronics, provides interactive 360-degree views of its
smartphones, giving users a comprehensive look at the product.
11
Proposed Idea:
Advantages
Comprehensive View: Users get a detailed look at products.
Improved Understanding: Better comprehension of product features.
Competitive Edge: Sets the brand apart in user experience.
Visual Appeal: Attracts users with visually engaging content.
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Advantages
Visual Confidence: Users can see how products look on them.
Higher Conversion: Boosts purchase confidence and rates.
Reduced Returns: Fewer surprises lead to fewer returns.
Personalization: Tailors the shopping experience to individual users.
Fun and Interactive: Adds an element of enjoyment to shopping.
Example 1: Nykaa, an Indian beauty and cosmetics brand, features customer reviews, ratings,
and user-submitted images, influencers generated images on its product display pages,
providing valuable insights and bundle to shoppers.
Example 2: Amazon, a D2C marketplace, suggests complementary products and bundles
when viewing a product page.
Proposed Idea:
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2.User reviews
14
Advantages
Cross-Selling: Increases the average order value.
Higher Sales: Encourages additional purchases.
Social Proof: Demonstrates that others trust and enjoy the products.
Visual Appeal: Attracts users with authentic images and recommendations.
1. Guest Checkout Option: Simplify the checkout process by offering a guest checkout
option, reducing friction for first-time customers.
2. Progress Indicators: Provide a visual progress indicator during checkout, showing
users how many steps are remaining in the process.
Example: Shopify, an e-commerce platform, allows customers to complete their purchase as a
guest without creating an account.
Example: Walmart, a D2C retailer, displays a progress bar during checkout, guiding users
through the steps.
15
Advantages
Faster Checkout: Guest checkout reduces friction.
Lower Abandonment: Simplifies the process, reducing cart abandonment.
Time Efficiency: Saves users time during checkout.
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