2. boAt is an India-based
consumer electronics
brand established in 2015.
The company term
itself as a lifestyle brand
that deals in fashionable
consumer electronics.
Introduction
3. Having started as a cable
manufacturer and seller
company, today, it has
expanded its catalog.
only four years since the
journey but the company
stands tall with more than
800,000 happy customers.
4. The aim of this journey?
The sole aim of the
company was to bring in
durable and fashionable audio
products in the market at
affordable prices.
Aman Gupta and Sameer
Mehta founded boAt with the
vision of making fashion meet
the world of consumer
electronics.
Objectives
5. boAt, was incorporated in
November 2013 by co-
founders Sameer Ashok
Mehta and Aman Gupta.
boAt started as a
bootstrapped startup with a
capital of around Rs 3 crore
that came from the founders.
Start up story
6. The company focused on 3
important
market strategies to create a
good consumer base –
1.Consumer’s Needs
2.Consumer’s Desires
3.Consumer's Behavior
Pattern
Business and revenue model
7. 1- Consumer-first approach and
improvisations:
The company believes in closely
observing the needs of users and
developing products accordingly.
2- Portrayal as a lifestyle brand:
The company portrays itself as a lifestyle
brand rather than calling a consumer
electronics brand.
Why is boAt successful?
8. 4- Right targeting:
boAt lifestyles are reckoned
as millennials’ brands.
5- Online marketing
There is now an online
community of boAtheads
with around 80,000 members
at present.
Cont..
9. Boat wireless market
The sale of boAt’s wireless speakers
grew the most during the last fiscal—up
2.6X from Rs 113.2 crore in FY20 to Rs
297.4 crore during FY21.
boAt imports goods worth Rs 1,316 Cr
in FY21, mostly from China
These expenses grew 2.3X from Rs
452.5 crore in FY20 to Rs 1,034.03 crore
in FY21.
10. The top competitors of the
Boat
are Gonoise, Mivi and Skullca
ndy.
Gonoise is the biggest rival
of Boat.
Mivi is one of the biggest
rivals of Boat.
Skullcandy is also one of
the top competitors of Boat.
Competitors
11. 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“
Awards and recognitions and
brand ambassadors
12. Another major advantage includes
making the target audience remember the
brand by establishing a unique position in
their minds by giving them something
valuable
Their effect on the market has been so
much that the popularity of products of
boAt has forced big giants like JBL to
lower down the prices of their products to
compete in the affordable audio segment.
Conclusion
