PROJECT REPORT

On
“A MARKET ANALYSIS OF BOAT”
Submitted to DAV COLLEGE CHANDIGARH
In the Partial fulfilment of the requirement for the Award of the Degree of
Bachelor in Business Administration – III
Batch – (2021 – 2024)

Submitted To: Submitted By:

Mr. Arpit Khurana Jaiditya Arora
 DECLARATION

I Jaiditya Arora, a student of BBA – III batch 2021 – 2024, hereby declare that
the

project report entitled “Market Analysis of Boat” is prepared by me and it is my

personal

and is authentic work under the guidance of Mr. Arpit Khurana, Assistant
Professor, Department of Commerce.

I further declare that the material obtained from other sources has been duly
acknowledged

in the thesis.
 ACKNOWLEDGEMENT

At the onset let me take this opportunity to acknowledge the grace of God
without whom this work could not have successfully accomplished. It is
difficult to overstate my gratitude to my supervisor Mr. Arpit Khurana for his
inspiring and continuous support. He has not only motivated me to complete
this research work but also generated continuous process of research-oriented
thinking in myself. I am indeed very grateful to him. I would also like to thank
my Principal, Dr. Rita Jain to help me a lot in completing this project within
limited time and resources. I cherish my long and intimate association with
friends who have helped me to complete this project. I extend my thanks
specially to my parents, brothers and sisters for encouraging me and giving their
unconditional support during this research work.
 CERTIFICATE OF APPROVAL

This is to certify that the project work entitled "A Market Analysis of Boat " is
a Bonafede work carried out by Jaiditya Arora student of BBA- III year in the
partial fulfilment for the degree of bachelor’s from DAV College Sector -10
Chandigarh affiliated to Panjab University, Chandigarh.

The project report is approved here with.

Dr. ARPIT KHURANA

ASSISTANT PROFESSOR
 Table of Contents

CHAPTER PARTICULARS PAGE

NUMBER
1 Introduction 6-18
 Objectives
 Importance
 SWAT-Analysis
 Product Portfolio
&Range

2 Literature Review 19-26

 Importance
 Company Review
 Marketing Mix & Strategies
3 Research Methodology 27-29
 Definition
 Types of Research
 Sources Of Data
 Limitations of Study
4 Data Analysis and Interpretation 30-39
5 Conceptual Framework 40-43
 Definition
 boat’s Conceptual Framework
6 Findings and Results 44
7 Suggestion & Conclusions 45-46
8 Bibliography 46
Questionnaire 47-49

CHAPTER-1

Introduction

The industry:

Wearable technology, also commonly referred to as "wearables," is an electronics category

that can be used as daily accessories, have them embedded in clothes, or even implanted in
the user's body. These are intended to be hands-free gadgets with a variety of useful
applications. They have game-changing potential in medicine and other allied sectors. They
derive their power through microprocessors and have the capability of sending and receiving
data through the internet. The expansion of mobile networks facilitated the development of
wearable technologies. Fitness activity trackers were the first significant wearable technology
to gain popularity with consumers. The wristwatch was then transformed into a screen, and
more complex mobile apps were added. Bluetooth headphones, wristbands, and web-enabled
glasses also receive data from Wi-Fi networks. With augmented reality and virtual reality
headsets, the gaming industry is introducing more accessories in wearable technology.
About BOAT:

Aman Gupta and Sameer Mehta launched their direct-to-consumer electronics company,
boat, in 2016. Moreover, in 2014, they established Boat's parent business, Imagine Marketing
India, with whom they are closely affiliated. Boat was founded with a bootstrapped capital of
INR 30 lakhs. The wide variety of products that the firm offers has attracted a
large customer base.
These products range from speakers to wireless earbuds and earphones to smartwatches and
homeaudio devices and smartphone accessories.
According to International Data Corporation (IDC), boat ranked fifth in the wearables market
by volume of deliveries and market share in Quarter 1 2022. Apple, Samsung, Xiaomi, and
Huawei took the first four spots. Boat offers an incredible collection of earphones, earbuds,
headphones, and audio equipment that stand out for their great quality, low costs, and
world-class designs. Since its inception in2016, boat has been named India's
leading earwear audio brand. Through the company, users\ can experience both
spirit and energy. Boat's primary objective was to give people valuable, long-
lasting and well – known stylish products.
The narrative of a humble Indian startup's sudden journey to stardom is certainly endearing.
They met numerous conflicts throughout their travels. Despite the hardships, they never gave
up hope. They, too, had humble origins. It grew from its beginnings as a network
of connection producers and sellers. One of its creators, Aman Gupta, was familiar with
the gadget sector. He led his small group of workers for several years (2007 to 2010).
He worked for Citibank from 2003 to 2006after completing his CA degree. In 2010, he
decided to pursue an MBA at ISB Hyderabad. This was the beginning of his problems with
the auditing firm KPMG. Despite the fact that he was there for a little more than a half-year,
it was long enough to leave an impression.
 Objectives of the Study

1. To understand the existing product quality in BOAT headphones.

2. To investigate whether product quality of BOAT headphones is capable of addressing
all demands made by customers.
3. To understand about the customer satisfaction for BOAT headphones.
4. To study the go-to market strategy of the company and understand the
complexities connected with expanding in a highly competitive market and
how to maintain growth while maximizing profitability

Importance of the Study

1. Set your project objectives at the beginning of your project
In order for your objectives to guide the results of the project, you need to set them at
the beginning and use them to guide your project. As we mentioned earlier, your
project objectives are a key element of your project plan, which you should also
create at the beginning of your project.
2. Involve your project team in the goal-setting process
The more buy-in you get, the more successful your project objectives will be. Your
stakeholders need to have a clear understanding of the objectives of the project, so
they can approach the rest of your project plan and the work that happens during the
project most effectively.

3. Create brief, but clear, project objective statements

If this is your first time writing a project objective, you may be tempted to outline
every detail—but try to keep your project objective short if you can. Think of it as a
statement to guide the results of your project—your project objective statement
should be about one to two sentences long. The additional information, like your
project budget or stakeholders, will be captured in your project plan.

4. Make sure your objectives are things you can control

This is where the SMART acronym comes in to play to help you create clearly-
defined, realistic, and controllable project objectives. There are five elements to this
framework: Specific. Make sure your project objective statement clearly covers the
project your team is currently working on. Avoid writing overly broad project
objectives that don’t directly connect to the result of the project. Measurable. At the
end of your project, you need a way to clearly look back and determine if your project
was a success. Make sure your project objectives are clearly measurable things—like
percentage change or a specific number of assets Achievable. Are your project
objectives something you can reasonably hope to achieve within your project? this is
connected to your project scope—if your project scope is unrealistic, your project
objectives likely will be, too. Without Achievable project goals, your project may
suffer from scope creep, delays, or overwork. Realistic. When you’re creating your
project objectives, you should have a general sense of your project resources. Make
sure your objectives are something you can achieve within the time frame and with
the resources you have available for this project. Time-bound. Your project objectives
should take into account how long your project timeline is. Make sure you factor in
the time you have available to work on your project.

5. Check in on your project objectives during the project’s lifecycle

Employees who understand how their individual work adds value to their
organization are 2X as motivated. In order to keep your team aligned and motivated,
make sure to check in and update them on your project objectives frequently. In your
project status reports, include a section that connects back to your project objectives.
Share whether your current project is on track, at risk, or off track. That way, your
 project team can recalibrate if necessary and move forward in a way that best
contributes to your project objectives.

SWOT Analysis

Strengths
●Profitability: The selling of customised boats provides boat manufacturers with healthy
profit margins. They can slow down their expansion at any moment, and there are significant
obstacles for new competitors to overcome in this market.
●Although there are few barriers to entry into the boat manufacturing sector, a successful
company venture requires a leader with extensive knowledge and expertise in the field.
●Those who are up to the challenge of boat manufacturing can reap the rewards of large
gross margins while working for themselves in a very complicated industry.
●In order to get various parts of a boat made, the firms that make boats have to keep good
ties with one another.

Weaknesses
●Political and economic instability: these companies are more vulnerable to downturns in the
economy.
●Therefore, it is crucial that the entrepreneur find strategies to keep all fixed and underlying
costs under control to maintain a profit margin through economic downturns.

Opportunities
●Companies may grow rapidly by creating standardised templates for their most common
processes.
●Some boat builders may sell licences to other businesses so that they can produce boats
based on their blueprints and designs.
●Expansion: Moreover, by expanding the basic facilities, additional orders may be processed
at any given moment.
●Danger The possibility of a monetary downturn, which would reduce consumers ‘spending
power.

Threat
●Boat faces a significant challenge due to the unbalanced nature of the market caused by the
breadth of its competitors' product offerings.
Product Portfolio of Boat
 PRODUCT RANGE OF BOAT AIRDOPES

AIR DOPES
Air dopes offer the most incredible listening experience with revolutionary design. Truly in
ear wireless with no cables, no connectors, and no hassles. Designed for comfort and
unstoppable music, always remain on your toes as Air dopes brings to you the dopes tech
there is out there. Powered with BOAT’s Insta Wake n’ Pair™ technology & ASAP™ Fast
Charge, these true wireless earbuds power on and connect instantly right out of the charging
case. No more going into settings to find and pair the device, welcome to the new era of
seamless, instant connection. BOAT Air dopes come with passive and active noise
cancellation technology that cancels out external noise, delivering only the sound of your
media to your ears. No longer will there be any interference from external sources. Air dopes
are designed and perfected for superior calls and entertainment. These wireless earbuds come
with massive drivers that deliver superior sound, sound that is unmatched and inimitable.
Made from fine and premium materials, these Bluetooth earbuds are made to be comfortable
and secure. You can choose from a variety of silicone tips provided to adjust accordingly and
ensure a supreme and comfortable fit based on how you want your experience to be.
HEADPHONES
BOAT offers a wide range of wireless earphones and Bluetooth headphones that enhances
your listening experience. With the rise of wireless technology, the need for wired
headphones is slowly becoming obsolete. Whether you're on the go or working out, wireless
headphones and earphones provide convenience and mobility without sacrificing sound
quality. One of the biggest benefits of wireless earphones and headphones is their portability.
They are lightweight, compact, and easy to carry around, making them perfect for travelling
or commuting You can enjoy your favourite tunes without worrying about tangled cords or
heavy equipment. Additionally, the wireless feature allows you to move around freely without
any restrictions, making them perfect for workouts, outdoor activities, or simply lounging at
home. The sound quality of wireless earphones and headphones is exceptional, with high-
quality audio drivers and noise-cancellation technology. You can enjoy your favourite tracks
with clarity, depth, and richness. The bass and treble are well-balanced, delivering an
immersive audio experience that will transport you to a different world. Wireless earphones
and headphones come in different shapes and sizes, depending on your needs and
preferences. In-ear earphones are perfect for those who prefer a more discreet and
comfortable fit. On-ear and over-ear headphones provide a more immersive experience,
perfect for music enthusiasts who want to lose themselves in the sound. Some of our products
also feature voice assistants such as Siri or Google Assistant, allowing you to control your
music or answer calls without having to touch your device. In conclusion, wireless earphones
and headphones are a game-changer in the audio industry. With their convenience, portability,
and exceptional sound quality, they have become a must-have for anyone who enjoys music
on the go. Whether you're a fitness enthusiast, a music lover, or someone who wants to stay
connected, our collection of Bluetooth headphones and wireless earphones has something for
everyone. So why wait? Shop now and experience the freedom of wireless audio.
SMART WATCHES
This best of best smart watches will also help you stay connected at all times with smart
notifications for texts, calls, reminders, and alarms. Enjoy remote music and camera control
from your fitness watch. In the field of wearables, BOAT also came up with the best smart
watches for women — Watch Storm being one of them. It is the perfect companion for your
fitness transformation. Storm smart watch is here to remove all obstructions that may come
on your goal-achieving path. With its daily activity tracker and nine different sports modes, it
will now be fun to track your fitness journey. Why does it fall under smart watches for
women? This fitness smartwatch comes with a menstrual cycle tracking feature that allows
you to stay on top of your periods cycle, and log in your physical and emotional symptoms.
Its battery life of up to 10 days will keep you alert at all times with smart notifications from
your phone and vibration alerts for calls, texts, schedule reminders, alarms, & more! BOAT’s
smart watch Enigma is a sleek fitness smartwatch loaded with features that truly makes it the
smart watch of our times. It fits the bill for being the best smart watches for men as it comes
with smart gestures which allow you to remotely control your camera, watch faces, and more!
Why is it one of the best smartwatches? Enigma comes with Find My Phone feature that will
call your phone to easily locate your phone when you don’t remember where you kept it. Its 3
ATM water resistance will keep it safe from splashes & sweat too, making it top the list of
best smart watches for men & women.
 CHAPTER - 2
Literature Review

What are Ethics?

This is the most common way of defining "ethics": norms for conduct that distinguish
between acceptable and unacceptable behaviour. Most people learn ethical norms at home, at
school, in church, or in other social settings. Although most people acquire their sense of
right and wrong during childhood, moral development occurs throughout life and human
beings pass through different stages of growth as they mature. Ethical norms are so
ubiquitous that one might be tempted to regard them as simple common sense. Many
different disciplines, institutions, and professions have standards for behaviour that suit their
particular aims and goals. These standards also help members of the discipline to coordinate
their actions or activities and to establish the public's trust of the discipline. For instance,
ethical standards govern conduct in medicine, law, engineering, and business. Ethical norms
also serve the aims or goals of research and apply to people who conduct scientific research
or other scholarly or creative activities.

What is Character Ethics?

According to the character ethic, it is most important to focus on integrating the principles of
effective living into one's character. This may be a long-term process, but working on the
character, including an effective view of the world, is getting at the root from which
behaviour flows and so is fundamental. The character ethic sees individual development as a
long-term process bearing results according to the law of the harvest. Business ethics has
normative and descriptive dimensions. As a corporate practice and a career specialization, the
field is primarily normative. Academics attempting to understand business behaviour employ
descriptive methods.
 Importance
1. Satisfying Basic Human Needs:
Being fair, honest and ethical is one the basic human needs. Every employee desire to
be such himself and to work for an organization that is fair and ethical in its practices.

2. Creating Credibility:
An organization that is believed to be driven by moral values is respected in the
society even by those who may have no information about the working and the
businesses or an organization. Infosys, for example is perceived as an organization for
good corporate governance and social responsibility initiatives. This perception is
held far and wide even by those who do not even know what business the
organization is into.

3. Uniting People and Leadership:

An organization driven by values is revered by its employees also. They are the
common thread that brings the employees and the decision makers on a common
platform. This goes a long way in aligning behaviours within the organization towards
achievement of one common goal or mission.

4. Improving Decision Making:

A man’s destiny is the sum total of all the decisions that he/she takes in course of his
life. The same holds true for organizations. Decisions are driven by values. For
example, an organization that does not value competition will be fierce in its
operations aiming to wipe out its competitors and establish a monopoly in the market.

5. Securing the Society:

Often ethics succeeds law in safeguarding the society. The law machinery is often
found acting as a mute spectator, unable to save the society and the environment.
Technology, for example is growing at such a fast pace that the by the time law comes
up with a regulation we have a newer technology with new threats replacing the older
one. Lawyers and public interest litigations may not help a great deal but ethics can.
 Company Review

 boat or boat Inc. is an Indian manufacturer of consumer electronics and personal care
products which is headquartered in New Delhi, India.

 It was incorporated as Imagine Marking Services Pvt Ltd in November2013 but was
rebranded in 2016.

 The company is founded by Sameer Mehta and Aman Gupta and

nowmanufactures and markets a variety of audio-focused consumerelectronics includi
ng wireless earbuds, wired headphones, wirelessspeakers, home audio equipment, an
assortment of mobile phoneaccessories, and now into personal grooming.

 It became the 5th largest wearable brand in the world in 2020.

Review - Buyable product as Pros exceeds Cons:

Pros:1. Inexpensive:
 In comparison with its competitors, boat hosts a series of earphones, headphones,
speakers, and home audio systems – all at prices lesser than its competitors like
Xiaomi, Realme, JBL, Zebronics & Apple.
 Marketing Mix

4P Analysis

Product
When they saw that iPhone charging cords were easily broken owing to low quality, they set out to
solve this problem by manufacturing and marketing replacement cables that were indestructible. They
quickly grew to include a wide variety of earbuds and headphones designed specifically for use while
exercise. This was a very important way to reach young people, especially since fitness is more
important than ever. Making custom commercials or posters that show people working out or running
while wearing Boat earbuds also helped show how useful the products are.’

Promotion
Boat’s products are only advertised and sold through digital marketing and social media. The
company has avoided advertising on TV and in newspapers. Instead, you might find Boat ads where
all the young people hang out, like on Facebook and Google.

Pricing
Boat is not as expensive as high-end brands but also not as cheap as Chinese brands. The company is
in the best place in the market. The price point of a product makes it easier for
people to buy it, and Boat users can also get big discounts on products. It's
popular with most people. And by focusing on fashion, it attracts the group it wants to reach, which is
young people.

People
Getting the brand's target audience right is undoubtedly one of the most essential parts of making the
brand successful. Thanks to social media, fitness is getting more attention than ever before, and for
many people, audibles are becoming more of a must than a choice. People's habits did start to change
because of the trend. Boat knew this, so they made things that young people liked. During the 2019
Lakme fashion week, boat teamed up with Masaba Gupta and quietly stopped being an audio and
electronics company to become a lifestyle brand. This makes it different from other brands like JBL
and Skullcandy. It could also help the company keep making products that are meant to make people's
lives easier. Along with earbuds, the company has made a number of sound bars, speakers, and sound
systems over time. Being called a lifestyle brand opens the door for Boat to make more of these kinds
of things in the near future.

Place
Place is where you sell your product and the distribution channels you use to get it to your
customer. Like price, finding the right place to market and sell your product is key to
reaching your target audience. If you put your product in a place that your target customer
doesn’t visit—on or offline— you will likely not meet your sales target. The right place can
help you connect with your target audience and set you up for success. For example, imagine
you are selling an athletic shoe. Your target market is athletes in their early twenties to late
thirties, so you decide to market your product in sports publications and sell it at specialty
athletics stores. By focusing on sports stores over shoe stores in general, you target your
efforts to a specific place that best fits your marketing mix. To decide the best place to market
and sell your product, you should consider researching the physical or digital places where
your target audience shops and consumes information. Some questions to consider include:
Where will you sell your product?
Where does your target audience shop?
What distribution channels are best to reach your target market?
 Marketing Strategies of Boat:

The company knows just too well the likes and dislikes of their target audience and the places
they visit often- social media, Google, gym, etc. In a nutshell, BOAT has targeted the youth
of the nation very well as can be seen from the below mentioned marketing strategies:

 Presenting itself as a lifestyle brand

 BOAT has never portrayed itself as a consumer electronics company. Rather, it has
always taken immense pride in presenting itself as a lifestyle accessories brand. Doing
so creates an image in the mind of the user that BOAT products can be used at all
places whether you are sweating in the gym, or commuting in a bus.

 This intent of the company was also visible at the Lakme Fashion Week (2009) in
Mumbai, where all the models sported only BOAT products.

 Expanding Range of Products

 Some companies launch a product, gain success and then fizzle out as they fail to
expand their catalo. Expanding your product range over the years is a good marketing
strategy in itself and BOAT has been exceptional at that. The company first made
indestructible apple charging cables and chargers. Tasting success, they did not stop at
that introduced ear phones, which was followed by wireless speakers and headphones.
With this continuous, well-thought expansion, they were able to capture a large share
of the market, owing to which its popularity grew by leaps and bounds.

 The Perfect Targeting

 BOAT products offer affordability without cutting down on style. This was not a
common thing 7 or so years ago, when the market had either premium brands or
cheap ones that did not offer an X-factor. The blend of two was rare. BOAT addressed
that gap with its products that attracted the youth. The brand ambassadors were also
 carefully chosen which had a great face value among the millennials, especially from
industries such as Bollywood and Sports (Cricket). In terms of quality of the ear wear,
the products could be worn without any fear of damaging them even while gymming
or performing high-intensity exercise in the outdoors.

 Digital Marketing
 Over the years, the company has spent a lot of money on online marketing, as they
have targeted the youth. BOAT has mainly run its campaigns on Google and social
networking websites like Facebook and Instagram. Interestingly, all customers of
BOAT are referred to as ‘BOAT heads. The company has also appointed youth icons
such as Kiara Advani to win the trust of the customers.

Boat’s Marketing strategy:

“You are plugged into Nirvana”
When you take a boat, you leave everything behind, you plug into a new zone, says co-
founder Aman Gupta. Prior to the brand's revolution, earbuds and headphones were merely
accessories that came with mobile phones. In recent years, demand for Boat's products has
skyrocketed. In order to build a solid customer base, the firm prioritized the following three
market tactics:
●Customer’s Needs
●Customer’s Desires
●Customer’s Behaviour Pattern

Target Audience:
From the start, Boat has been focused on young people who are interested in fitness. All of
their products are made with this audience in mind. They saw that the demand for
products that can't be broken was growing, so they started making them. Plus, they tried
to get the attention of their target audience with different ads.

Product Positioning
boAt's marketing strategy has been to pay closer attention to customer needs and build arelati
onship with them. The corporation dubbed its loyal consumers
'Boat heads,'
and they had their own community. Any requests for changes to existing items, as well as the
introduction of new products, were met with enthusiastic responses from these devoted boat
head communities. These customer approaches helped the company's customer base grow.

CHAPTER-3
 Research Methodology

What is Research?
Research is defined as human activity based on intellectual application in the investigation of
matter. The primary aim for applied research is discovering, interpreting, and the
development of methods and systems for the advancement of human knowledge on a wide
variety of scientific matters of our world and the universe. Types of Research Practical
Research: Practical research involves survey, interviews, and field-level investigation in order
to achieve the correct information. It is highly important that all information is complete and
reliable to properly support the decision-making process. Theoretical Research: The term
theoretical is sometimes informally used in lieu of hypothetical to describe a result which is
predicted by theory but has not yet been adequately tested by observation or experiment
Research Methodology The process used to collect information and data for the purpose of
making business decisions. The methodology may include publication research, interviews,
surveys and other research techniques, and could include both present and historical
information.

Types of Research Methodology

1) Quantitative Research
This research is based on numeric figures or numbers. Quantitative research aims to
measure the quantity or amount and compares it with past records and tries to project
for future period. In social sciences, “quantitative research refers to the systematic
empirical investigation of quantitative properties and phenomena and their
relationships”. The objective of quantitative research is to develop and employ
mathematical models, theories or hypothesis pertaining to phenomena.

2) Qualitative Research
 Qualitative research presents non-quantitative type of analysis. Qualitative research is
collecting, analysing and interpreting data by observing what people do and speak.
Qualitative research refers to the meanings, definitions, characteristics, symbols,
metaphors, and description of things. Qualitative research is much more subjective
and uses very different methods of collecting information, mainly individual, in-depth
interviews and focus groups.

Sources of Data

Primary Data- Primary Data are those data that are collected basically for the project use and
are first handed. To collect Primary Data the procedure used is mentioned below:

Personal Interview- We approached towards customer asked certain questions that were relevant to
the research objective.

Questionnaire- Questionnaire is a set of questions related with the objective of research. It was
provided to an individual customer and were asked fill it as per there preference and perception.

Secondary Data - Secondary Data are not first handed data. Source of secondary data are as
follows:

Internet- In order to collect more data, we were required visit different site/website on internet.

Journals &Magazines- Article coming in different journals and magazines were also referred in
order to gather more relevant data to make the project more effective.

Newspaper- The Business newspaper was even referred.

 Limitation of the Study

The following are the limitations of the study:

➢ Headphones has become the most necessary commodity, so it was difficult to define the population
in a particular place.

➢ Chances of biased responses from the different websites, customers’ responses.

➢ Time plays a havoc role in data collection. So, the sample or data is limited.

➢ Respondents cannot represent the population, as a whole. So, the findings may be biased.

CHAPTER-4
 DATA ANALYSIS AND INTERPRETATION

FINANCIAL ANALYSIS OF BOAT INTRODUCTION:

Financial statements are formal records of financial activities and position of a business,
person or other entity. These statements include standard reports like balance sheet, profit and
loss statement, and cash flow statement. They stand as one of the most essential components
of business information, and as the principal method of communicating financial information
about an entity to outside parties. In a technical sense, financial statements are a summation
of the financial position of an entity at a given point of time. Generally, financial statements
are designed to meet the needs of many diverse users, particularly present and potential
owners and creditors.

Statement of Problem
The profit over the years has been fluctuating. This study helps in analysing the reasons for
such fluctuations. This study also helps in analysing the strength and weakness of BOAT
lifestyle.

Objectives of study
• To examine and understand the liquidity and solvency position of the company. • To know
the profitability position of the company
• To predict the future prospect of the company, past performance of the company is analysed
Tools for analysis
• Ratio analysis
• Comparative balance sheet
Review of literature
Dharma raj, A.and Kathirvel N. (2016) explored an overview of new industrial policy act
1991, which allow 100 percent foreign direct investment. An attempt is made to find out the
effect of FDI on financial performance of automobile industry. It is concluded that the
liquidity ratios show minor changes and profitability shows an increasing trend during post
FDI when compared to pre FDI. Post FDI efficiency ratio shows that companies are
efficiently utilizing the available resources.
Dewar Varun (2016) Study to analyse the effect of various fundamental corporate policy
variables like dividend, debit, capital expenditure on stock prices of automobile companies of
India. The study tends that dividend & investment policy are relevant and capital structure
irrelevant to stock prices.

Company Highlights:
Name: BOAT Lifestyle
Legal name: imagine marketing
Headquarters: New Delhi, India
Sector: Consumer Electronics
Founders: Sameer Mehta, Aman Gupta Founded 2016
Total Funding Raised: $177 million (October 2022)
Revenue: $362.6 million (INR 3,000 crore, FY22)
Valuation: $266.8 million (INR 2,200 crore, April 2021)
Website: BOAT-lifestyle.com
Current Ratio:

INTERPRETATION
The trend in the current ratio over the four-year period suggests that the company had a stable
liquidity position until 2021 when it significantly improved. However, the ratio declined in
2022, highlighting the need for close monitoring of the company's financial position and
management of its cash flow and working capital.
Quick Ratio:

INTERPRETATION:
The quick asset represents the liquid assets that can be easily converted into cash, while the
current liability represents the company's short-term financial obligations that are due within
one year. The quick ratio is a measure of a company's ability to pay off its current liabilities
using its quick assets. A higher ratio typically indicates better liquidity and financial stability.

Net profit ratio:

INTERPRETATION:
The ratio of net profit to net sales (or profit margin) improved significantly from 2019 to
2020, but declined in 2021 and 2022, indicating that the company may be experiencing
higher costs or lower margins on its products or services in those years. Overall, the company
appears to be growing and generating more profit, but it will be important to monitor trends
in net sales and profitability in the coming years to ensure continued success.
INTERPRETATION:
Overall, the company experienced significant growth in both assets and liabilities between
2021 and 2022. Non- current assets and current assets increased substantially, while current
liabilities increased significantly more than non-current liabilities. Total equity increased
substantially as well, but not as much as the company's liabilities.

SWOT ANALYSIS

SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to

evaluate a company's competitive position and to develop strategic planning. SWOT analysis
assesses internal and external factors, as well as current and future potential. A SWOT
analysis is designed to facilitate a realistic, fact-based, data-driven look at the strengths and
weaknesses of an organization, initiatives, or within its industry. The organization needs to
keep the analysis accurate by avoiding pre-conceived beliefs or gray areas and instead
focusing on real-life contexts. Companies should use it as a guide and not necessarily as a
prescription.
KEY POINTS
• SWOT analysis is a strategic planning technique that provides assessment tools. •
Identifying core strengths, weaknesses, opportunities, and threats leads to fact-based analysis,
fresh perspectives, and new ideas.
• A SWOT analysis pulls information internal sources (strengths of weaknesses of the specific
company) as well as external forces that may have uncontrollable impacts to decisions
(opportunities and threats).
• SWOT analysis works best when diverse groups or voices within an organization are free to
provide realistic data points rather than prescribed messaging.
• Findings of a SWOT analysis is often synthesized to support a single objective or decision
that a company is facing.
SWOT ANALYSIS OF BOAT

Strengths
• Profitability: BOAT manufacturing businesses are able to produce strong gross margins
from the sale of customized BOATs. They are able to reduce their development to any given
time, and the barriers to entry for this business are extremely high.
• Leadership: Although it doesn’t take much to start this business, and entrepreneur looking to
start their own BOAT manufacturing firm does need to have a substantial amount in of
experience in the marine vessel industry.
• BOAT manufacturing is a highly complex business that can produce very strong gross
margins for a qualified owner operator.
• Many BOAT manufacturing companies often maintain strong relationships with one another
in order to have certain aspects of a BOAT produced.

Weaknesses
• Economic & Political changes: These businesses are again highly subject to negative
changes in the economy.
• Budget controls: As such, it is imperative that the entrepreneur develop ways to control all
underlying and fixed expenses in order to ensure that the business can remain profitable even
during recession.

Opportunities
• One of the ways that these businesses readily expand is by developing a number of preset
plans that are used for mass production.
• Some BOAT manufacturing companies will license their designs and plans to other third-
party BOAT manufacturing companies.
 • Expansion: Additionally, additional orders can be handled at any given time via the
expansion of the initial facilities.

Threats
 The risk of an economic recession which would crimp the ability of buyers.
 Heavy Competition: As the competitive range of BOAT is very long, making it a
huge threat for BOAT as leading to the imbalance of its market position.
 CHAPTER-5

Conceptual Framework

What is Conceptual Framework?

1. A conceptual framework is a representation of the relationship you expect to see between
your variables, or the characteristics or properties that you want to study.
2. Conceptual frameworks can be written or visual and are generally developed based on a
literature review of existing studies about your topic.

Advantages of Conceptual Framework Advantages of the Conceptual Framework are as

follows:
• Clarity: A conceptual framework provides clarity to researchers by outlining the key
concepts and variables that are relevant to the research project. This clarity helps researchers
to focus on the most important aspects of the research problem and develop a clear plan for
investigating it.
• Direction: A conceptual framework provides direction to researchers by helping them to
develop hypotheses or research questions that are grounded in existing theory or conceptual
models. This direction ensures that the research project is relevant and contributes to the
development of the field.
• Efficiency: A conceptual framework can increase efficiency in the research process by
providing a structure for organizing ideas and data. This structure can help researchers to
avoid redundancies and inconsistencies in their work, saving time and effort.
• Rigor: A conceptual framework can help to ensure the rigor of a research project by
providing a theoretical basis for the investigation. This rigor is essential for ensuring that the
research project is scientifically valid and produces meaningful results.
• Communication: A conceptual framework can facilitate communication between
researchers by providing a shared language and understanding of the key concepts and
variables being studied. This communication is essential for collaboration and the
advancement of knowledge in the field.
• Generalization: A conceptual framework can help to generalize research findings beyond
the specific study by providing a theoretical basis for the investigation. This generalization is
essential for the development of knowledge in the field and for informing future research.

Limitations of Conceptual Framework:

Limitations of Conceptual Framework are as follows:
• Limited applicability: Conceptual frameworks are often based on existing theory or
conceptual models, which may not be applicable to all research problems or contexts. This
can limit the usefulness of a conceptual framework in certain situations.
• Lack of empirical support: While a conceptual framework can provide a theoretical basis
for a research project, it may not be supported by empirical evidence. This can limit the
usefulness of a conceptual framework in guiding empirical research.
• Narrow focus: A conceptual framework can provide a clear focus for a research project, but
it may also limit the scope of the investigation. This can make it difficult to address broader
research questions or to consider alternative perspectives.
• Over-simplification: A conceptual framework can help to organize and structure research
ideas, but it may also over-simplify complex phenomena. This can limit the depth of the
investigation and the richness of the data collected.
• Inflexibility: A conceptual framework can provide a structure for organizing research ideas,
but it may also be inflexible in the face of new data or unexpected findings. This can limit the
ability of researchers to adapt their research project to new information or changing
circumstances.
• Difficulty in development: Developing a conceptual framework can be a challenging and
time-consuming process. It requires a thorough understanding of existing theory or
conceptual models, and may require collaboration with other researchers.
 BOAT’s Conceptual Framework

It takes several years for a brand to reach its growth stage and accomplish its targets. But with
a strong marketing strategy, a brand can outdo its target and achieve record-breaking success.
Well, you know from the title, we are talking about Boat. Nirvana, which is India based
consumer electronics brand.

The consumer electronics startup was founded in 2015 by Aman Gupta and Sameer Mehta. In
just 5 years, Boat became a market leader in consumer electronics in India. Today when a
customer looks for earphones or headsets, Boat is the brand they don’t miss. Also, customers
are so fond of the brand that in just the fourth year of the brand, it created a community of
800,000 customers, which is ever increasing.
Boat has crossed 500 crore revenue FY2020. The surprising part about the brand’s revenue
growth is that it was the expected revenue FY21-22 that Boat crossed in 2020.
Their outstanding performance of Boat deserves many applauds. But also, we should learn
how the company did exceptionally well.
It is because of Boat’s strong marketing strategy. In this article, we will discuss the marketing
strategy of Boat that made it float towards success.

What’s Next in the marketing strategy of Boat?

Boat is moving forward strongly and planning to become a leader in the truly wireless
earbuds market. It is also planning to focus more on its customers changing demands and
offer them new products. Technology is the biggest driver for any change and Boat plans to
make that change through its audio devices.

Key Takeaways:
Boat’s marketing strategy states how even a young company can create a leading brand. In a
short span, Boat managed to get tremendous success. So, what can we learn from their
success, and what are the key takeaways.

Firstly, providing not just a product but value. Boat offers its products in a way that doesn’t
seem they’re selling an item, but like they are something valuable that makes the customers
satisfied optimally.

Secondly, value your customers. Boat values its customer and connects with them to create
better products for them

Third, keep innovating. Innovation is a process that never ends, and Boat is continuously evolving
and changing its products.

So that’s what your marketing strategy should be like.

 CHAPTER-6

Findings & Results

 The trend in the current ratio over the four-year period suggests that the company had
a stable liquidity position until 2021 when it significantly improved
 The quick ratio is a measure of a company's ability to pay off its current liabilities
using its quick assets. A higher ratio typically indicates better liquidity and financial
stability
 The ratio represents the proportion of liquid assets to current liabilities and helps
determine a company's ability to pay off its short-term debts,
 This suggests that while the company's total assets continued to grow significantly,
their net sales did not keep pace with the increase in assets.
 This might be an area of concern for potential investors as it indicates a decreasing
efficiency in generating revenue from the company's assets.
 Majority of the consumers were of 21 to 25 years of age.
 Majority of the consumers were male.
 Majority of the consumers were under graduates.
 Majority of the consumers were aware about boat life style product through social
media advertisement.
 Majority of the consumers prefer to buy boat life style product both in online and
offline.
 Majority of the consumers over all experience about boat lifestyle product is good.
 Majority of the consumers prefer to purchase earbuds from boat Lifestyle products.
 Availability of the product ranked as first for the factors influencing respondent to
purchase boat lifestyle products.
 Majority of the consumers were highly satisfied with quality of the product.
 CHAPTER-7
SUGGESTIONS & CONCLUSION

Suggestions
 The company has to decrease its current liabilities to improve their liquidity ratio and
liquidity position.
 The company can focus on increasing its gross profit margin by either increasing its
revenues or decreasing its cost of goods sold.
 The company can also focus on reducing its operating expenses to increase its net
profit margin.
 The company can improve its liquidity by increasing its current assets or reducing its
current liabilities.
 This can be done by managing its inventory more effectively, collecting receivables
on time, and negotiating better payment terms with its suppliers.
 The company can manage its debt effectively by reducing its debt-to-equity ratio.
 The majority of the customers fall under the student category, so company can
segment the product and target age group of above 30 more.
 The company can increase sales on smart watchers, battery, and others.
 Customers feels that cost of the product under boat life style is too costly. It is
recommended to the company that they can offer product at low cost so that all type
of income group people can prefer to purchase more.
 Conclusion
The Project is entitled on “a financial analysis of BOAT lifestyle”. Financial performance is
the process of measuring the result of a firm’s overall financial health over a given period of
time and can also be used to compare similar firms across the same industries or sectors.
Utmost care has been taken at all levels of the project work, right from the beginning of
analysing accounting information provided by profit and loss account and balance sheet The
target market perceived the features of boat lifestyle products just as the brand wanted to
position itself. The study found that majority of the respondents were highly satisfied with the
quality of a product. Majority of the respondents’ overall experience in using boat lifestyle
product was good. The study concluded that, efforts and resources should properly be utilized
to reach out to all types of income groups to reduce the cost of the product to retain and
attract more customers.

Bibliography Journals:
• International Journal of Research Publication and Reviews.
• Boat: the Indian startup scripts a revolutionizing growth strategy.

WEBSITES:
Boat Lifestyle - EverybodyWiki Bios & Wiki
https://www.boat-lifestyle.com/
boat Success Story: How It Became the World's 5th Largest Wearable Brand
(startuptalky.com)
 QUESTIONNAIRE

1. How often do you listen to music or audio content while boating?

- Frequently
- Occasionally
- Rarely
- Never

2. What type of boating activities do you typically engage in while listening to music or audio
content? (Select all that apply)
- Relaxing on deck
- Fishing
- Water sports (e.g., skiing, wakeboarding)
- Cruising
- Anchored/moored
- Other (please specify)

3. Have you ever used headphones or earphones while boating?

- Yes
- No

4. If yes, what type of headphones or earphones have you used while boating? (e.g., over-ear,
in-ear, wireless)
5. What features do you consider important in boat headphones products? (Select all that
apply)
- Waterproof or water-resistant
- Secure fit (to prevent falling off in water)
- Noise cancellation or noise isolation
- Comfortable for extended wear
- Bluetooth/wireless connectivity
- Long battery life
- Durability
- Built-in microphone for hands-free calls
- Other (please specify)

6. How satisfied are you with the headphones or earphones you've used while boating in the
past?
- Very satisfied
- Satisfied
- Neutral
- Dissatisfied
- Very dissatisfied

7. What improvements or additional features would you like to see in boat headphones
products?
8. Would you be interested in headphones specifically designed for boating with enhanced
waterproofing and durability?
- Yes
- No
- Maybe

9. How much are you willing to invest in high-quality boat headphones products?
- Less than Rs. 1000
- Rs.1000 - Rs.2000
- Rs.2000 - Rs.3000
- Rs.3000 - Rs.4000
- More than Rs.4000