MINOR PROJECT REPORT

ON

MARKETING STRATEGIES OF BOAT

PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENT OF

THE REQUIREMENTOF BACHELOR OF BUSINESS

ADMINISTRATION

BY: - TISHA GOEL

ROLL NO.- 01490801823

Under the guidance of

MS. HARSIMRAN KAUR

SRI GURU TEGH BAHADUR INSTITUTE OF MANAGEMENT

AND INFORMATION TECHNOLOGY

(2023-2026)

1
 DECLARATION

I hereby declare that the project work entitled “MARKETING

STRATEGIES OF BOAT.” Submitted to Sri guru tegh bahadur
institute of management under the guidance of MS. HARSIMRAN
KAUR is a record of original work done by TISHA GOEL.

....................................

(Signature of the Scholar)

Place: Delhi TISHA GOEL

Date: Enrol.. No.: 01490201823

2
 CERTIFICATE

This is to certify that TISHA GOEL , student of SRI GURU

TEGH BAHADUR INSTITUTE OF MANAGEMENT AND
INFORMATION TECHNOLOGY of course BBA(B&I) has
completed project work title MARKETING STRATEGIES OF
BOAT under my guidance and supervision. This work is genuine.

………………………….

(signature of project in charge)

Ms. BIPASHA CHAUDHARY

………………………….

(Signature of Guide)
Ms. HARSIMRAN KAUR

....................................

(Signature of the Scholar)

Place: Delhi TISHA GOEL

Date: Enroll. No.: 01490201823

3
 ACKNOWLEDGEMENT

I would like to take the opportunity to thank and express my deep

sense of gratitude to my mentor Ms. HARSIMRAN KAUR. I
am greatly indebted to her for providing their valuable guidance
at all stages of the study, advice, constructive suggestions,
positive and supportive attitude and continuous encouragement,
without which it would have not been possible to complete the
project.

….……………………….

(Signature of the Scholar)

TISHA GOEL
Enrolment number:01490201823

4
 INDEX

S.NO. TITLE PAGE NO.

1 CHAPTER 1: -

INTRODUCTION OF THE 6
COMPANY/ INDUSTRY

2 CHAPTER 2: -

INTRODUCTION OF THE TOPIC 17

3 CHAPTER 3: -

RESEARCH METHADOLOGY 35
4 CHAPTER 4: -
39
FINDINGS

5 CHAPTER 5: -

CONCLUSION 41
6 CHAPTER 6: -

RECOMMENDATIONS AND 43
SUGGESTIONS

7 CHAPTER 7 :- 44
BIBLOGRAPHY

5
 CHAPTER -1

INTRODUCTION TO INDUSTRY

Electronics wearable brand Wearable technology, wearables, fashion technology, smart

wear, tech togs, streetwear tech, skin electronics or fashion electronics are smart
electronic devices (electronic device with micro-controllers) that are worn close to
and/or on the surface of the skin, where they detect, analyse, and transmit information
concerning e.g. body signals such as vital signs, and/or ambient data and which allow
in some cases immediate biofeedback to the wearer.

Wearable devices such as activity trackers are an example of the Internet of Things, since
“things” such as electronics, software, sensors, and connectivity are effectors that enable
objects to exchange data (including data) through the internet with a manufacturer,
operator, and/or other connected devices, without requiring human intervention.

Wearable technology has a variety of applications which grows as the field itself
expands. It appears prominently in consumer electronics with the popularisation of the
smartwatch and activity tracker. A popular activity tracker called the fit bit is widely
used in the fitness industry to track calories and health related goals. A popular
smartwatch in the market is the Apple Watch. Apart from commercial uses, wearable
technology is being incorporated into navigation systems, advanced textiles, and
healthcare. As wearable technology is being proposed for use in critical applications, it
has to be vetted for its reliability and security properties.

6
History-
In the 1500s, German inventor Peter Henlein (1485-1542) created small watches that
were worn as necklaces. A century later, pocket watches grew in popularity as waistcoats
became fashionable for men. Wristwatches were created in the late 1600s but were worn
mostly by women as bracelets.

In the late 1800s, the first wearable hearing aids were introduced.
In 1904, aviator Alberto Santos-Dumont pioneered the modern use of the wristwatch. In
the 1970s, calculator watches became available, reaching the peak of their popularity in
the 1980s. From the early 2000s, wearable cameras were being used as part of a growing
surveillance movement. In 2008, Ilya Friedman incorporated a hidden Bluetooth
microphone into a pair of earrings. In 2010, Fitbit released its first step counter.
Wearable technology which tracks information such as walking and heart rate is part of
the quantified self-movement.

In 2013 McLear, also known as NFC Ring, released the first widely used advanced
wearable device. The smart ring could pay with bitcoin, unlock other devices, transfer
personally identifying information, and other features. McLear owns the earliest patent,
filed in 2012, which covers all smart rings, with Joseph Principe as the sole inventor. In
2013, one of the first widely available smartwatches was the Samsung Galaxy Gear.
Apple followed in 2015 with the Apple Watch.

7
Rationale for choosing the topic-
I have chosen this topic because there are a lot of startups emerging these days in the
world. Each of them has unique marketing strategies which will help them grow
substantially as better the marketing and quality of goods and services provided, better
the sales.

I have chosen the company Boat to search about the marketing strategies topic as it will
help us understand better that how a company launched in 2014 with nothing is a 10,500-
crore company in 2024. Also, it will help me in future if I work in a marketing related
profession.

8
 ABOUT THE COMPANY
BoAt is an India-based consumer electronics brand established in 2015 that markets
earphones, headphones stereos, travel chargers and premium rugged cables. Imagine
Marketing Services Private Limited, which does business as BoAt, was incorporated in
November 2013 by co-founders Sameer Ashok Mehta and Aman Gupta.

BoAt (legal name "Imagine Marketing Services Pvt. Ltd.") is an India-based company
which was incorporated in November 2013. BoAt markets earphones, headphones
stereos, travel chargers, and premium rugged cables.

Products and brands

BoAt designs and markets a variety of audio-focused consumer electronics, including
wireless earbuds, wired headphones, wireless speakers, home audio equipment, smart
watches, and an assortment of mobile phone accessories.

Wireless earbuds
BoAt distributes a line of wireless earbuds under the brand name Airdopes. As of
mid2020, the manufacturers suggested retail price (MSRP) for BoAt’s Airdopes line
ranges from ₹3,999 to ₹5000. Like competing brands and models of wireless earbuds,
BoAt’s Airdopes line features Bluetooth connectivity, which enables truly wireless use,
as well as carrying cases that include built-in batteries to charge the wireless earbuds
when not in use.

9
Tethered wireless earbuds
BoAt distributes a line of tethered wireless earbuds under its Rockerz and BoAt brands.
As of mid2020, the undiscounted MSRP of BoAt's tethered wireless earbuds offers
range from ₹2,990 to ₹4,990.
Like truly wireless earbuds, tethered earbuds do not connect directly to an audio source
(like the audio-out port on a mobile phone, computer, or stereo). However, tethered
wireless earbuds are connected to one another via a wire, or are connected to a band
which houses the batteries, controls, and onboard processors which drive the speakers
in the earbuds. Depending on the model, the connecting wire or band is worn behind the
head or around the neck of the wearer, as if it was a lanyard.

Wireless headphones
BoAt also distributes a line of wireless headphones in both on ear and over-ear form
factors. Its headphones are marketed under the company's BoAt, Rockerz, and Nirvana
brands and undiscounted prices range between ₹2,990 and ₹7,990 depending on the
model and the features offered of the product.
Like other wireless headphones, BoAt's devices do not connect to an audio source via
wire or cable. Its devices feature Bluetooth connectivity to play audio from the audio
source (such as a mobile phone, computer, or stereo system). In wireless playback mode
over Bluetooth, BoAt's headphones draw power from lithium ion batteries which are
integrated into the headphones.
Many of BoAt's wireless headphones come with an auxiliary audio cable that can plug
into standard headphone jacks (or other audio jacks using adapters, which aren't
included). On many models, connecting headphones to an audio source using the
auxiliary audio cable does not draw down battery charge.

10
Smart watches
BoAt offers a line of smart watches that offer a variety of fitness modes, health
monitoring features, and call, text, and social media notifications.
Boat smartwatches are designed to blend style with functionality, offering users a
convenient and connected experience on their wrists. These smartwatches typically
boast features such as activity tracking, heart rate monitoring, sleep tracking, and
notifications for calls, messages, and social media alerts. With sleek designs and vibrant
displays, Boat smartwatches aim to appeal to users seeking both fitness tracking and
everyday usability. Some models may also include additional features like music
control, weather updates, and customizable watch faces. Whether for workouts or
everyday wear, Boat smartwatches strive to provide a seamless and reliable companion
for modern lifestyles.

11
Portable wireless speakers
Boat offers a variety of portable wireless speakers designed to deliver immersive sound
experiences on the go. These speakers are typically compact and lightweight, making
them easy to carry and ideal for outdoor adventures, parties, or simply enjoying music
at home.
Boat's portable wireless speakers often feature Bluetooth connectivity, allowing users to
easily stream music wirelessly from their smartphones, tablets, or other
Bluetoothenabled devices. Many models also offer additional connectivity options such
as AUXin ports or microSD card slots for versatile playback options.
In terms of sound quality, Boat speakers are known for their powerful audio output and
enhanced bass, delivering a rich and dynamic listening experience. Some models may
also feature built-in microphone functionality, enabling hands-free calling for added
convenience.
With durable construction and long-lasting battery life, Boat portable wireless speakers
are designed to withstand the rigors of outdoor use and keep the music playing for hours
on end. Whether you're lounging by the pool, hiking in the wilderness, or hosting a
backyard barbecue, Boat speakers aim to provide the perfect soundtrack for every
occasion.

12
Marketing and promotion
BoAt promotes its products through a combination of influencer marketing and brand
tie-ins with sports teams and public events.
BoAt calls its brand influencers "BoAtheads." Its brand influencers include Indian
singers like Neha Kakkar and rapper Naved Shaikh (also known as Naezy), as well as
athletes like cricketers Hardik Pandya and Shreyas Iyer, among others.
The company has done brand tie-ins with sports franchises like cricket teams Chennai
Super Kings and the Mumbai Indians. Additionally, BoAt has co-branded its audio
devices with music events like Sunburn Festival and other large-scale events like the
Lakmé Fashion Week.

13
Leadership- Co-founders
BoAt was co-founded by Aman Gupta and Sameer Ashok Mehta.
Aman Gupta is co-founder and chief marketing officer of BoAt. Prior to co-founding
BoAt, Gupta was the director of sales at Harman International, where he oversaw a
portfolio of consumer electronics brands including JBL, Harman Kardon, and AKG
which Harman International distributes in India. Gupta's first entrepreneurial experience
was as co-founder and CEO of Advanced Telemedia Pvt Ltd, which helped launch
global brands such as Beats Audio, Sennheiser, and Telex, among others, in the Indian
market.
Sameer Ashok Mehta is co-founder of BoAt. Mehta had entrepreneurial and executive
leadership experience prior to co-founding BoAt. He is an owner of Redwood
Interactive, which distributes computer gaming hardware and peripherals under the
Redgear brand. Mehta is also director at Kores India, a business owned by his family.
Mehta was appointed to his directorship at Kores India Limited in February 2010.

14
The Business model of BoAt

Boat operates on a direct-to-consumer (DTC) business model, focusing on selling its

products directly to customers through various channels such as e-commerce platforms,
company-owned stores, retail partnerships, and online marketplaces. Here are the key
components of Boat's business model:

Product Portfolio:

Boat offers a diverse range of consumer electronics products primarily focused on audio
accessories. This includes headphones, earphones, speakers, soundbars, and related
accessories. The company targets tech-savvy consumers, particularly those interested in
affordable yet high-quality audio products.

Direct Sales Channels

Boat emphasizes direct sales to customers through its official website (boat-
lifestyle.com), mobile app, and exclusive brand stores. By bypassing traditional retail
intermediaries, Boat can maintain control over pricing, promotions, and customer
experience.

E-commerce Platforms

Boat leverages popular e-commerce platforms like Amazon, Flipkart, and others to
reach a wider audience and facilitate sales. These platforms serve as additional channels
for customers to discover and purchase Boat products conveniently.

Retail Partnerships

Boat collaborates with retail partners such as electronics stores, departmental stores, and
consumer electronics chains to expand its offline presence and reach customers who
prefer in-store shopping experiences.

15
Brand Presence

Boat has built a strong brand presence through marketing campaigns, social media
engagement, influencer partnerships, and sponsorships. The brand is known for its
trendy designs, innovative features, and competitive pricing, resonating well with its
target audience.

Customer Experience

Boat prioritizes customer satisfaction by offering reliable products, responsive customer

support, easy returns, and warranty services. The company's focus on building long-term
relationships with customers contributes to repeat purchases and brand loyalty.

Agile Manufacturing and Supply Chain.

Boat maintains an agile manufacturing process and efficient supply chain management
to respond quickly to market demands, launch new products, and optimize inventory
levels. This enables the company to stay competitive and meet customer expectations
effectively.

Overall, Boat's DTC business model combines online and offline sales channels, brand
building, customer-centricity, and operational agility to drive growth and success in the
consumer electronics industry.

16
 CHAPTER 2
INTRODUCTION TO THE TOPIC

Introduction to Marketing Strategies

Company marketing strategy is an important and crucial constituent for the global
market. Marketing strategies can vary from country to country, brand to brand and
organization to organization. In order to achieve a satisfactory and adequate marketing
strategy which has a positive outcome on global and overall firm success, the marketing
department within a company should bear in mind all the different marketing mix
strategies that can influence the comprehensive result and the cumulative firm success.
When launching a product into foreign markets companies can use a conventional
marketing mix or adapt the existing marketing mix, to satisfy the country they are
carrying out their business activities in. the link between standardization/adaptation and
company performance is complicated and possibly influenced by other factors (Shilke,
Reiman, Thomas, 2009, Solberg, Durrieu, 2008). It should be emphasized that the
influence of standardization/adaptation decisions of international marketing strategy on
company performance is named also as one of the most topical research objects of
international business (Griffith, Cavusgil, Xu, 2008).
Therefore, inconsistent results of empirical research works and limited research contexts
confirm that the link between standardization/adaption decisions of international
marketing strategy and company performance are a topical object of scientific research
(Ryans, Griffith, White, 2003, Theodosiou, Leonidou, 2003). International marketing
solutions become particularly relevant for enterprises that operate in a global business
environment and that look for survival or business development opportunities. Latterly
more attention is given to the link between international marketing strategy and
company performance in scientific literature on the subject of international marketing
(Samiee, Roth, 1992; Cavusgil, Zou, 1994; O’Donnell, Jeong, 2000; Katsikeas, Samiee
and Theodosiou, 2006, Solberg, Durrieu, 2008; Shilke, Reiman, Thomas, 2009).
17
Company performance is one of the most important aspects when assessing the
suitability of certain strategies (Jain, 1989).
However, despite the importance of international marketing strategy for company
performance, the number of scientific research works that analyse the mentioned link is
limited, and results of the research works are contradictory (Katsikeas, Samiee &
Theodosiou, 2006.).
By conducting detailed literature review we will explore the concept of marketing
strategy discussing its value, consequently creating foundation for a conceptual model
and empirical study.

The Concept of Marketing Strategy

Marketing strategy is a significant driving force that distinguishes the success of many
organizations not only by well-developed marketing strategies outlining where, when,
and how the firm will compete but also by their ability to execute the marketing strategy
decision options chosen (e.g. Day and Wensley 1988; Varadarajan 2010).
The appropriate and effectively implemented marketing strategies are required to
productively guide the deployment of the limited available resources via the firm’s
marketing capabilities in pursuit of desired goals and objectives (Black and Boal 1994;
Varadarajan and Clark 1994).
The literature reveals two distinct but related features to marketing strategy content:
marketing strategy decisions and marketing strategy decision implementation. Hence,
decision makers responsible for the marketing strategy must select which available
resources the firm should deploy, where to deploy them appropriately, and set and signal
priorities in terms of achieving the various goals and objectives of the firm (Slater 1995).
Well-defined strategic marketing objectives are critical feature of marketing strategy in
which managers must make decisions about what the objectives and priorities of the
firm are, translate these objectives and vision of the firm into marketing-related goal
criteria, and set and articulate the desired achievement levels on each goal. This can be
18
complicated to realize by the fact that many goal criteria and levels may be incompatible
or at least non-complementary in the pursuit of achieving firm performance. For
instance, the firm’s growth revenue and margin growth are difficult to achieve
simultaneously (Morgan et al. 2009).
Managers, therefore, have to prioritize objectives that may be in conflict. Since most
definitions of strategy concern plans for how desired objectives are to be achieved, such
goal setting is clearly important in determining subsequent marketing strategy content
decisions. Indeed such goal selection decisions may be one of the most important
manifestations of strategic choice within the marketing strategy content (Child 1972).
Another important feature of marketing strategy content is the selection of the market.
This deals with the segmentation and targeting decisions of the classic STP framework
of marketing strategy, which revolves on market segmentation, target and positioning.
Specifically, this marketing strategy content decision determines where the firm will
seek to compete in order to meet the strategic marketing objectives stipulated. Value
proposition is also a significant feature of the marketing strategy as it is responsible for
the choosing of the specific product and/or service offerings to be delivered into the
target market with the objective of exceeding the customers’ expectations (Slater 1995).
The decision surrounding the value proposition is therefore a measurement of the value
offering that managers consider will create adequate demand at required price points
among target customers to allow the firm to achieve its strategic marketing objectives
arranged to total firm performance. The assumption here is that the value proposition
can be delivered by the firm as envisaged and that the delivered value proposition is
perceived by customers in the way that decision makers anticipate in getting positive
returns. This decision of the marketing strategy content therefore determines which
specific resources and capabilities are required to be combined and transformed to
develop and deliver the value offering that consequently leads to firm performance. In
order for a marketing strategy to offer subsequent amount of value and achieve
performance it should be well-timed with market requirements. Therefore, Timing is an
important marketing strategy decision when examining new market targets or value
19
propositions is the timing of entry or launch (e.g., Green et al. 1995; Lieberman and
Montgomery 1998).
Nonetheless, even if a marketing strategy does not involve such changes to target
markets or value propositions, timing is still an important component of most marketing
strategies especially in nowadays-rapid changing consumer tastes and preferences,
which are accelerated by ever changing technologies. Literature reveals that most firms
also have specific timeframes associated with their strategic marketing goals or regular
planning horizons that provide time objectives and constraints within which marketing
plans may be formulated and executed. Such important time considerations can often
impact other marketing strategy content decisions. For example, when a marketing
strategy must be developed to deliver a return on investment in 1 year versus 2 years,
then different market segmentation, targeting, and value proposition decisions may be
appropriate (e.g., Green et al. 1995).

Adaptation of the 4Ps

Product
The product itself is at the beginning of marketing strategy efforts toward firm
performance and is the heart of brand because it is the primary impact on what
consumers experience with a product or rather a brand, what they heard about the
product from others through word of mouth, and what the firm can win customers about
their product in their communications. Therefore, designing and delivering a product or
service that fully satisfies customer needs and wants is a prerequisite for successful
marketing strategy implementation, regardless of whether the product is a tangible good,
service, or organization.
According to Keller, (2003) in order to create brand loyalty, consumers’ experiences
with the product must, at least, meet, if not actually exceed, their expectations. Customer
satisfaction is determined by exceeding customers’ expectations. The image of the
product is paramount to winning customers in international markets.
20
According to Doole and Lowe (2004) product image is one of the most powerful points
of differentiation for consumers. Image positioning has an influence on the consumer
and buyer behaviour. Because the aspiration and achiever groups of purchasers wish to
belong to particular worldwide customers segments and are keen to purchase products
which are associated with that group. Then again, company image is becoming
increasingly important aspect of international marketing strategy in creating a central
theme running through diverse product ranges that reinforces the vision and the values
of the company which can be recognized by employees and customers alike. For this
reason, many companies have spent considerable effort and adequate resources on
controlling and improving the corporate identity through consistent style and
communications.

Pricing
The second P of the marketing mix elements is price. Of all the aspects of the marketing
mix, price is the one, which creates sales revenue to the firm – all the other elements are
costs. The price of an item is clearly an important determinant of the value of sales made.
In theory, price is really determined by the discovery of the value perception of the item
on sale by customers.
Thus far, marketing managers must develop the habit of continually examining and
reexamining the prices of the products and services they sell to ensure the firm’s prices
are still appropriate to the realities of the current market situation. Sometimes it is
necessary to lower prices depending on market demand fluctuations and intensity of
competition. At other times, it may be suitable to raise the prices all depending on market
circumstances. Many companies have found that the amount of effort and resources that
go into producing the products do not justify the profitability of certain products or
services.
Hence, by raising their prices, they may lose a percentage of their market share, but the
remaining percentage of the market share can still generate profit on every sale. It is
crucial to research on consumers’ opinions about the firm’s pricing decisions, because

21
it indicates how consumers value what they are looking for as well as what they want to
pay. An organization’s pricing policy therefore will vary according to time and
circumstances of the market. Companies need to change their terms and conditions of
sale to maximise the sales volume and profitability. Some other market situations will
push the firm to spread its price over a series of months or years, with aim of selling far
more than the current sales figures, and the firm can charge interest more than the make
up for the delay in cash receipts. Another pricing option is to combine products and
services together with special offers and special promotions. In addition, a firm can
include free additional items that cost very little to produce but the firm can make its
prices appear far more attractive to its customers than rivalries. Generally, in business,
whenever the firm experience resistance or frustration in any part of its sales or
marketing strategy it should be open to revisiting that area. The firm should be
considerate to the possibility that its current pricing structure is not ideal for the current
market. Therefore, the firm must be open to the need to revise its prices, if necessary, to
remain competitive, to survive and perform in a fast-changing marketplace.

Place
The fourth P in the marketing mix is the place which is also known as distribution. It is
concerned with the availability of products or services to customers. In order to
implement a successful marketing strategy, it is important to form the habit of evaluating
and reflecting upon the exact location where the customer meets the salesperson in
which products and services are converted into cash. Sometimes a change in distribution
channels can lead to a rapid increase in sales, although figures vary widely from product
to product, as it can be costly in getting the product to the customer. Place encompasses
of various methods of transporting and storing goods, and then making them available
for the customer.
The success formula is getting the right product to the right place at the right time
through effective distribution systems. The choice of distribution method will depend
on a variety of circumstances. Marketers can choose to sell their product in many
22
different places. Some companies prefer direct marketing, in which the salespersons are
sending out to personally meet and talk with the potential customers. While some
companies sell by telemarketing.
Furthermore, place or distribution channels occurs in other various methods such as
selling through catalogues or mail order, sell at trade shows or in retail establishments,
sell in joint ventures with other similar products or services, some companies use
manufacturers’ representatives or distributors and others use a combination of one or
more of these methods. In each case, the marketer must make the right decision about
the very best location or place for the customer to receive essential buying information
on the product or service needed to make a buying decision. The critical questions are
asking what your effective distribution channel is. In what way should you change or
improve it? Where else could you offer your products or services? It is quite known that
a good product may not be accepted by a market if it is not properly made available in
convenient places.
All products need effective distribution structures (Onkvisit and Shaw, 1993).
Every company must manage smoothly the distribution, or the flow of products to the
end consumer. Marketing channels can be viewed as sets of independent organizations
involved in the process of making a product or service available for use or consumption
to profitable markets. However distribution channels is not only concerned to satisfy
market demand by supplying goods and services at the right place, quantity, quality, and
price,
But they also stimulate market demand through the third P which is promotional
activities of the units (e.g., retailers, manufacturers’ representatives, sales offices, and
wholesalers) comprising them. Therefore, the choice of distribution should be viewed
as an orchestrated network that creates value for user or consumer through the
generation of form, possession, time, and place utilities (Stern and El-Ansary, 1988).
Distribution channels comprise a host of different institutions and agencies. Among the
most prominent structures of these are retailers, wholesalers, common and contract

23
carriers, public warehouses, and distribution centres. Companies can utilize to deliver a
product to consumers by using various types of middlemen.
As introduced above, there are two main types of distribution channels: Direct and
indirect channels. There are two ways to distribute goods; directly to the final customer
or indirectly through a more complex system that employs intermediaries. Direct
channels of marketing involve selling through personal contacts from company to
prospective customers by mail, phone, and personal visits. Indirect channels of
marketing involve selling through third party intermediaries such as agents or broker
representatives, wholesalers or distributors, and retailers or dealer. Wholesalers buy
products in bulk from the manufacturer to make them available for retailers and sell
products to other channel members in smaller quantities.
Retailers are useful intermediary in handling transactions with final consumers. While,
direct channel facilitates corporate control and motivation of system members. A
member here can be a company employee that monitor distribution activities and use
the authority of the company to influence the behaviour of distribution personnel. The
opposite of direct channel is indirect channel which are not directly controlled by the
company. The company uses intermediaries to contact with the final customers.

24
 MARKETING STRATEGIES AS USED BY BOAT

Product Strategy

• boAt started with a focus on audio accessories, such as earphones and headphones.

• As the company grew, it expanded its product range to include wireless speakers,
smartwatches, and other wearables.

• boAt products are known for their good sound quality, stylish design, and affordable
price.
• The product aspect refers to the range of audio products and lifestyle accessories
offered by boAt lifestyle. This includes headphones, earphones, speakers,
smartwatches, charging cables, and other related products. The design, quality,
features, and technology incorporated into these products play a significant role in
attracting customers.

Price Strategy

• boAt products are priced competitively, making them accessible to a wide range of
consumers.

• The company offers a variety of discounts and promotions to attract new customers
and encourage repeat purchases.

25
• Price refers to the cost of boAt lifestyle products. The brand positions itself as
affordable and value-for-money, targeting a wide range of consumers.

• Pricing strategies consider factors such as production costs, competitor prices, market
demand, and the perceived value of the products. boAt lifestyle aims to provide quality
products at competitive prices.

Place Strategy

Place in this context refers to the distribution channels where boAt products are made
available.

This includes both online and offline platforms such as the brand's official website, e-
commerce platforms, retail stores, and authorized resellers. The brand ensures that its
products are easily accessible to its target audience through various channels.

• Online mode :-
boat sells its products through its own website, as well as through e-commerce
platforms such as Amazon, Flipkart, and Myntra. The company also has a strong
presence on social media, where it uses platforms such as Facebook, Instagram, and
Twitter to reach its target audience.

• Offline mode :-
boAt products are also available through a network of offline retailers, including
electronics stores, mobile stores, and department stores. The company has a strong
presence in tier 1 and tier 2 cities in India, and it is expanding its distribution network
to reach more customers in smaller towns and village.

• BoAt's place and distribution strategy has been successful in helping the company to
grow its market share. The company's products are now available in over 100,000
retail outlets across India, and it is the leading audio brand in the country
26
 The key factors that have contributed to the success of BoAt Lifestyle's place
and distribution strategy.

• Strong focus on online channels: boAt has been a pioneer in the use of online channels
to sell its products. The company was one of the first audio brands to launch its own
website, and it has also been successful in selling its products through e-commerce
platforms.

• Broad offline distribution network: boAt has a strong offline distribution network that
reaches customers across India. The company has a network of over 100,000 retail
outlets, and it is constantly expanding its reach.

• Effective marketing campaigns: boAt has launched a number of effective marketing

campaigns that have helped to raise awareness of its brand and its products. The
company has partnered with celebrities and influencers, and it has also used social
media to reach its target audience.

Promotion Strategy

boAt Lifestyle heavily relies on digital marketing and social media platforms for
promotion.

They actively engage with their target audience through social media channels,
influencer collaborations, and online marketing campaigns. boAt emphasizes lifestyle-
centric marketing, leveraging popular culture and trends to connect with their
consumers.

They also participate in events, sponsorships, and tie-ups to enhance brand visibility
and reach.

27
 The key factors that have contributed to the success of boAt Lifestyle's promotion
strategy:

• Focus on digital marketing:- boAt Lifestyle has been a pioneer in the use of digital
marketing to promote its products. The company has a strong presence on social
media, and it uses a variety of other digital marketing channels to reach its target
audience.

• Partnerships with influencers:- boAt Lifestyle's partnerships with influencers have

been a key factor in the success of its promotion strategy. The company has partnered
with a variety of influencers who have a large following on social media. These
influencers help to reach boAt Lifestyle's target audience and to generate excitement
about the company's products.

• Celebrity endorsements:- boAt Lifestyle's celebrity endorsements have also been a key
factor in the success of its promotion strategy. The company has worked with
celebrities who are popular with the target audience. These celebrities help to give
boAt Lifestyle's products a sense of prestige and to appeal to a wider audience.

SWOT Analysis

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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.

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 Future Plans of BoAt
The company is rapidly expanding its product line as they have gained a good market
share in the wearable audio market & now they are also focusing on personal care &
smartwatches.
It has acquired two companies named Tagg & KaHa. KaHa is a Singapore-based smart
wearable IoT(Internet of Things) development startup. With this acquisition, BoAt can
continue building innovative products.
Tagg digital is an Indian consumer electronics startup founded in 2016 & it deals in
smartwatches, earphones, and speakers. It was a pure bootstrapped company started by
Rohit Dhingra, Amitesh Bharadwaj, and Saurav Prakash & didn’t raise capital to date.

Challenges BoAt Is Facing

Imported Products
Most of the BoAt products are made in China with third-party manufacturers & in
2020, due to the India-China dispute & covid-19, the companies are facing many
issues in importing the products from China. So to solve this issue, under the PLI
scheme, they have set up a 50:50 joint venture with Dixon technologies to
manufacture some boAt products in India.
But even this will not resolve the issue in the short term as it is costly to manufacture
in India & even by 2024, around 50% of the BoAt products will be made in China.

Cutthroat Competition & No After-Warranty Service

There is too much in this space as new-age startups exist, and even traditional
companies are stepping up in this category. The competitors of BoAt are Mivi,
Skullcandy, Noise, pTron, Xiaomi, Samsung, etc. Also, if a product has issues after the
warranty period expires, even if a customer is ready to pay the extra money, boAt
currently does not offer after-warranty service.

30
Investors and market performance of the company over the years

boAt Lifestyle is a company that has just started to sail in the deep sea of audio
devices market. However, the numbers are promising for them as they continuously
rise amidst all the competition. The company struggled in its initial two years. Aman
and Sameer had started with a capital of around 3 million, coming from the two
founders.

In 2018, Kanwaljit Singh of Fireside Ventures invested 60 million in the

company. Singh was impressed with the founders’ ability to white spots, the
product quality, and right targeting.

The company is continuously performing in the market. It has clocked more than Rs
100 crore in domestic sales alone. From just two founders, the company is now a 35-
member team and has its offices in the top two metro cities- Mumbai and Delhi.

According to filings with the Registrar of Companies (RoC), boAt’s FY2018

revenues grew to Rs 108 crore from only Rs 27 crore in FY2017. That is more than
three times growth year on year. The young consumer electronics player claims that it
now sells over 6,000 units per day with four units sold every minute.

It also adds one boAthead to its family every three minutes. boAt is now projecting
sales of Rs 500 crore over the next five years. boAt audio was ranked as the leading
31
brand in the ear wear segment, as per the market data released by leading IT market
research and advisory firm International Data Corporation (IDC).

In 2019, boAt audio was the leading brand with a 27.3 percent market share in the ear
wear category. In FY 2020, it clocked a revenue of Rs 500 crore, up by 108.8 percent
from Rs 239.44 crore in FY 2019, while the business has been profitable for five years
straight.

In its initial days, boAt sold its products mainly on e-commerce platforms- Amazon
and Flipkart. Today, the company is present in 5,000 retail stores, supported by 20
distributors. The company claims to be selling 10,000 units a day and four million
units per year. It says it has served more than 20 million Indians till now.

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 SUCCESS STORY

Boat is a remarkable success story in the Indian consumer electronics industry. Here
are some key points about their journey to success:

1. Founding and Early Years: Boat was founded in 2016 by Aman Gupta and
Sameer Mehta. The company initially focused on affordable yet quality audio
products such as earphones, headphones, and speakers.

2. Product Innovation: Boat's success can be attributed to its focus on product

innovation and understanding consumer preferences. They quickly gained
traction by offering trendy designs, good sound quality, and competitive pricing.

3. Expansion and Diversification: Over the years, Boat expanded its product
portfolio to include smartwatches, charging cables, power banks, and other
accessories. This diversification helped them tap into new market segments and
strengthen their brand presence.

4. Strong Branding and Marketing: Boat invested heavily in branding and

marketing, especially targeting younger consumers through social media

33
 platforms like Instagram and TikTok. They collaborated with influencers and
celebrities to create buzz around their products.

5. Online Sales and Distribution: Boat adopted an online-first strategy, selling

primarily through e-commerce platforms like Amazon, Flipkart, and their own
website. This approach allowed them to reach a wide audience and efficiently
manage their distribution channels.

6. Quality and Customer Service: Despite their competitive pricing, Boat

maintained a reputation for quality products and good customer service. This
helped them build trust and loyalty among consumers.

7. Global Expansion: In addition to dominating the Indian market, Boat also

expanded internationally, particularly in markets like the Middle East and
Southeast Asia. This global presence further solidified their position as a leading
player in the consumer electronics industry.

Overall, Boat's success can be attributed to a combination of innovative products,

effective marketing strategies, strong distribution channels, and a focus on customer
satisfaction.

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 CHAPTER 3

REASEARCH METHODOLOGY

Research in a common parlance refers to a search for knowledge. One can also define
research as a scientific and systematic search for pertinent information on a specific
topic. Research is an art of scientific investigation. Research is an academic activity and
as such the term should be technical sense. The term research refers to systematic
method consist of enunciating the problem, formulating a hypothesis, collecting the
data, analysis the facts and reaching certain conclusion either in a form of solution
towards the concerned problem or in certain generalization for some theoretical
formulation. The system of collecting data for research projects is known as research
methodology. Research methodology represents the design of the research work.

OBJECTIVES OF THE STUDY –

1) Study the strategies adopted by Boat.

2) How to boost sales of the company.
3) How to change strategies in dynamic world.
4) What pricing policy does boat use.
5) Understanding the unique distribution techniques used by the company.
6) To evaluate Boat’s brand positioning strategy in the wireless audio industry

The study is an exercise involving estimation of parameters as regard to organisational

requirements. The research was designed so as to get the relevant information that can
be used for various organisational purposes.

RESEARCH DESIGN:
Choose an appropriate research design based on your objectives. You can opt for
quantitative research, qualitative research, or a combination of both. Quantitative
research involves gathering numerical data, while qualitative research focuses on
gathering descriptive information and opinions.

35
DATA SOURCE:
Research used both primary and secondary data to accomplish the objectives.

PRIMARY DATA:
It is the first hand gathered to help solve the problem at hand. Data is collected
personally for the specific project through research. Questionnaire was designed to
gather information on the company’s marketing strategies. Also, personal interviews
were done with sellers and buyers of the company’s products.

SECONDARY DATA:
It is the second-hand data already available and collected by someone else. The data
were extracted through internet, on the company’s official website. Also, magazines and
past interview were used.

DATA COLLECTION:
The study used the survey method to collect the raw information specific to the current
research work. The survey method is advantageous because it helps to collect detailed
information about an individual respondent.

SURVEY:
The type of survey undertaken was that of sample type keeping in consideration the time
constraints besides the viability of census survey. The sample survey undertaken to reach
the desired destination was carefully planned and executed by using selected samples.

36
STATISTICAL TOOL:
The tool used for obtaining the relevant information was questionnaire. A well-
structured questionnaire was administered to the sample of the study. The questionnaire
was designed keeping in view both major and minor objectives of the study.

SAMPLING:
With the customer being unknown and given the time and resource constraints random
sample was obtained from the population. The random sampling is a type of sampling
method where each individual unit has an equal probability of being chosen 100 people
were given questionnaires to fill to gather the information regarding the company.

DATA ANALYSIS AND INTERPRETATION:

After the data was collected, it was tabulated and findings of the project were presented
followed by analysis and using tools like bar graph and pie chart to reach certain
conclusion.

37
LIMITATIONS:
The limitations of the research are as follows:

1. Due to wide spread information of the data, the scope of project becomes very wide.

2. All the matter has been collected through secondary sources; hence, the errors might
have crept in.

3. Given the time constraints, all the information could not be gathered.

4. Data being very vast, appropriate information could not be gathered to the point
specific requirement needs.

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 CHAPTER 6

FINDINGS

There is no single success mantra and boAt is no exception.

Several factors contribute to the success of boAt. Let’s discuss them.

1. Innovations and a customer-first approach

The company believes in closely observing user needs and developing
products in response. Its first product was an indestructible charging cable and
charger for Apple. The product was created after the founders recognised the
need for it.
Over the last three years, some key insights have been that people are
increasingly looking for sports and fall-proof headphones, and that boAt’s
products were becoming boring. As a result, the startup introduced fall-proof
headphones and interesting color options for their products.

2. Portrayal as a lifestyle brand

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

boAT Cofounder Aman Gupta

This strategy was on display at the 2019 Lakmé Fashion Week in Mumbai,
where models wore only boAt products as they walked down the runway for
one of the designers. The portrayal of boAt as a lifestyle brand creates an image
in the user’s mind that boAt products can be used anywhere, whether you’re
sweating in the gym or commuting on a bus.

3. Constantly updating catalog

The company used critical consumer insight to determine that Indians adore
bass..

39
4. Right Targeting
The company offers fashionable and reasonably priced products that appeal to
young people. Furthermore, the brand ambassadors are all young people. Much
of the buzz surrounding boAt can be attributed to its brand ambassadors, who
represent two of India’s most popular passions (and obsessions): Bollywood
and Cricket.

The company even creates products specifically for teenagers. Sports

Earphones and Bluetooth Speakers, for example, have piqued the interest of
India’s increasingly fitness-conscious millennials. Customers select
accessories that complement their workouts, trails, hikes, and overall
adventurous lifestyle.

5. Online Marketing
To market its products, the company relied solely on the internet. The brand
has avoided traditional media such as television and print. Their campaigns
have mostly been run on Facebook and other such social media platforms. One
of the founders stated that millennials are mostly online, which is why their
focus is also there.

40
 CHAPTER 7

CONCLUSION

Foreign brands occupy the dominant position of China's accessories goods market.
Nearly half of the customers were loyal to BoAt. And the price of the accessories goods
brand was the highest in similar products, stating that the ability to mid-range brand of
college students was strong. There was a higher proportion of lower- end brand loyalty.
The ratio of customer loyalty to portronics was close to BoAt. Some sports brands in
domestic can compete with foreign brands. The customer loyalty was formed through
the accumulation of perceived quality, customer value, and customer satisfaction.
Perceived quality was positively correlated with customer value, but the correlation
coefficient was small, which showed that the quality of perception had positive effect
on customer value, and other factors also play an important role in customer value.

Customer value and customer satisfaction were positively correlated, and the
correlation coefficient was large, which illustrated that the customer value had an
important effect on customer satisfaction. Customer satisfaction and customer loyalty
were positively correlated, and the correlation coefficient was also large, which
explained that customer satisfaction had an important effect on customer loyalty. High
technology and high-quality support the brand development. For example BoAt and
mivi. That is their constant innovation. At present, China's accessories goods mostly rely
on processing and imitation. Technological content of products is low. As a result,
enterprises produced low-grade products, failed to investigate and analyse the market
demand, and finally, without designing the world's leading brands of products.

Market for some products need to be developed and undeveloped or there is a great
development space, but failed to grasp the enterprise. BoAt and Mivi in the early stages
of its brand recognition has a clear market positioning. In the fierce competition with
other brands, in the premise of ensuring that the original brand is not the core of the

41
premise of constant innovation of products. While the domestic accessories brand is
simply the pursuit of fashion creation, sports atmosphere is not strong, the lack of core
products.

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 CHAPTER 8
SUGGESTIONS AND RECOMMENDATIONS

SUGGESTIONS

Some useful and suggestions and recommendations by me are: -

1) PRICING:

BoAt is a bit expensive for the high-end products with good specifications and
therefore half of the people can't afford it. If BoAt lowers down its price a bit and
gives more discounts its sale will definitely shoot up and profit will increase. BoAt
today though has become a popular brand but not easily affordable.

2) PATTERN AND STYLE:

BoAt is a big brand but its pattern usually repeats itself. It should come up with more
new designs because in the world of fashion today it's the style that matters the most.
BoAt should include more patterns more styles and more colours into it.

3) TARGETING EVERYONE:

BoAt is most popular among teenagers only and least popular amongst elders and
people falling in the age bracket of senior citizens. If BoAt makes something simple
and sober, something in a big size so that every individual can carry them out.

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 CHAPTER 9

BIBLIOGRAPHY

www.researchandmarkets.com
www.google.com
www.boat.com
https://www.boat-lifestyle.com/
https://golden.com/wiki/BoAt_(company)-9MR3
https://www.crunchbase.com/organization/boat
https://startuptalky.com/boat-success-story/
chat.openai.com

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