In this we have discussed about the success story of boAt lifestyle

1. Listen to the Music :
boAt
plug into nirvana
A Case Study on boAt headphones:
Principles of Marketing
(MKTG103)
Under the guidance of
Dr. Manish Prasad Rajak
Amity University Jharkhand
Presented by:
Aayush Dayal Bareeda Fatima Abhishek Kr. Giri Yuvraj Kanishk Arya Zaid Eqbal

2. Introduction
• boAt is an Indian company that
markets audio-focused electronic
gadgets like wireless speakers, earbuds
(Airdopes), wired and wireless
headphones and earphones, home
audio equipment, premium rugged
cables, and a selection of other
technological accessories.

3. Start-up Story
• The founders wanted to create
a lifestyle brand, which would bring
fashionable audio products and
accessories for the millennials. Boat is
the brainchild of this idea. The
company began its journey as a cable
manufacturer and seller, which had
rapidly expanded its categories to
serve over 800,000 customers, as
reported in 2020. Boat started as a
bootstrapped startup with a capital of
around Rs 3000000 lacs that came
from the founders

4. Business and Revenue
Model
• The company focused on 3 important market strategies
to create a good consumer base -
• Consumer's Needs
• Consumer's Desires
• Consumer's Behavior Pattern
• The founders implemented their research on the
products and made the products affordable, durable,
and fashionable. boAt focuses on building a customer-
brand relationship where it considers the buyers as a
member of the Boat family. They also focused a lot on
the brand Boat and presented it as an Indian brand.

5. The Success Story
• Consumer-first approach &
Improvisations The company has a
specific term for its community of
users. Anyone who owns a boAt
product is anointed as boAthead and
made a part of the clan. This gives
users a feeling of belongingness. The
company believes in closely
observing the needs of users and
developing products accordingly.

6. The Success Story
• Right targeting boat lifestyles are reckoned as millennials’ brands. The
company provides stylish and affordable products that attract the youth.
Also, the brand ambassadors are all young faces. Much of the buzz
boAt has picked up can be attributed to its brand ambassadors who
represent India’s most-followed passions (and obsessions) - Bollywood
and cricket. The company even develops products specifically for
young people. For instance, Sports Earphones and Bluetooth Speakers
have caught the fancy of India’s increasingly fitness-focussed
millennials. Consumers choose accessories that fit their workouts,
trails, hikes, and their lifestyle.
• Online marketing The company has stuck to online modes to market
its products. The brand has stayed away from conventional media such
as TV and print. They have mostly run their campaigns on Facebook
and other social media networks. One of the founders cited the reason
being millennials are mostly online. Pankaj Mirchandani, the managing
partner at Rhythm Corner Alaknanda (RCA), a marketer and distributor
of electronics in India, says, “What has worked for boAt is the
community of fans they have built online, which is quite
commendable”. There is now an online community of boAtheads with
around 80,000 members at present. The company also uses Celebs
word-of-mouth as their marketing strategy

7. Awards and Recognitions
• Boat was awarded and recognized on numerous occasions by
a list of organizations, here's a look at some of the most
prominent awards and recognition of the brand:
•
The company was declared as the "number 1 brand for truly
wireless and earwear in India in 2020“
•
It was noted as the "5th largest wearable brand in the world
in 2020"
Boat boasts of being the official audio partner for 6 Indian
Premier League (IPL) teams in 2021
•
It has partnered with a wide range of celebrities and
cricketers from Hardik Pandya to Diljit Dosanjh and
Jacqueline Fernandez.

8. Competitors
• The top competitors of the Boat are:-
• Gonoise, Mivi, and Skullcandy.
• Gonoise:-
• Genoise is the biggest rival of Boat. It is headquartered in
Gurgaon, Haryana, India, and was founded in 2014. Gonoise
competes in the electronic equipment industry.
• Mivi:-
• Mivi is one of the biggest rivals of Boat. It is headquartered
in Telangana, Andhra Pradesh, India, and was founded in 2015.
Mivi also operates in the electronic equipment industry.
• Skullcandy:-
• Skullcandy is also one of the top competitors of Boat. It is
headquartered in Park City, Utah, and was founded in 2003.
Skullcandy also works in the electronics industry.

9. Funding and Investors
• boAt is eyeing IPO early next year. The company
is currently looking to raise up to $500 Mn (Rs
3500 crores) at a valuation of $1.4 bn and then
list itself between March and June 2022. Boat
becomes the first Indian D2C brand to file for a
Rs 2,000 crore-IPO, which plans to file its DRHP
with SEBI in the last week of January 2022, as per
the reports dated January 18, 2022. According to
the sources close to the company, Boat is looking
to have a fresh issue of shares and an offer for
sale, both of which would be worth Rs 1,000
crore each.

10. Future Plans
• The company believes that there is
always a trend of buying earphones
along with the new smartphones. Boat
finds this concept to be a channel of
success for them. According to the
reports, the major phone makers are in
the process of stitching new relations
with audio companies. For example -
Samsung has got JBL and Harman,
Apple has Beats, and so on. These
manufacturers are attracting consumers
with hot deals so that the users don't
buy earphones or headphones
separately.

11. Thank You