A

Comprehensive Project

Report On

ANALYSIS OF BRANDING AND BRAND EQUITY OF BOAT

SUBMITTED TO

PARUL INSTITUTE OF BUSINESS

ADMINISTRATION PARUL UNIVERSITY,
VADODARA
In the partial fulfilment of the requirement of the award of
degree of
Bachelor of Business Administration
Under the guidance of
MRS. SAYALI KHARPATE

Sr. No. Name Enrolment No. Signature

1 SAGAR SINGH 210613101714
2 CHIRAG PARMAR 210613101550
3 GARV PARMAR 210613101552
4 AJEET KUMAR 210613101212
5 NAMCHARAN 210613101981
6 MAHIRAJ SINGH 210613101218
7 JASHWANT 210613101218
8 VIKRAM PATEL 210613101598
9 GYANENDRA 210613101828
10 AKASH KUMAR 210613101966
 INSTITUTIONAL CERTIFICATE

This is to certify that this grand project report titled “Branding and brand equity of
boat” is the Bonafede work of below mentioned students who carried out the
research under my supervision. I also certify further, that to best of my knowledge the
work report here in does not form part of any other project report or dissertation the
basis in which a degree or award was conferred on an earlier occasion on this or any
other candidate.

Sr. No. Name Enrolment No. Signature

1 Sagar Singh 210613101714
2 Chirag Parmar 210613101550
3 Garv Parmar 210613101552
4 Ajeet Kumar 210613101212
5 Namcharan 210613101981
6 Mahiraj Singh 210613101218
7 Rajpurohit Jashwanth 210613101636
8 Vikram Kumar Patel 210613101598
9 Akash Kumar 210613101966
10 Gyanendra Kumar 210613101828

DR. AMRITA SINGH MR. MAHENDAR PATEL

[PRINCIPAL, PIBA] [ASSISTANT PROFESSOR]
 DECLARATION OF ORIGINALITY

We hereby certify that we are the only author of this paper and that neither any part
of this paper nor the whole of the paper study has been submitted for a degree to any
other University or Institution.
We Certify that, to the best of my knowledge, my paper study does not infringe upon
anyone’s copyright nor violate any proprietary rights and that any ideas, techniques,
quotations, or any other material from the work of other people included in my paper
study, published or otherwise, are fully acknowledged in accordance with the
standard referencing practices. Furthermore, to the extent that we have included
copyrighted material that surpasses the bounds of fair dealing within the meaning of
the Indian Copyright Act.
we declare that this is a true copy of my study, including any final revisions, as
approved by my paper study review committee.

Date: 11-08-2023
Place: Vadodara

Name of Students:

Sr. No. Name Enrolment Division

No.
1 Sagar Singh 210613101714 I
2 Chirag Parmar 210613101550 G
3 Garv Parmar 210613101552 G
4 Ajeet Kumar 210613101212 C
5 Namcharan 210613101981 K
6 Mahiraj Singh 210613101218 C
7 Rajpurohit Jashwanth 210613101636 H
8 Vikram Kumar Patel 210613101598 H
9 Akash Kumar 210613101966 K
10 Gyanendra Kumar 210613101828 J

Signature of Guid
Name of Guide: Prof. Sayali kharpate
 INDEX

SR. NO. LIST OF CHAPTERS Page no.

1. GENERAL INFORMATION
1.1 Industrial Overview
1.2 Company Overview
1.3 Competitor’s overview
1.4 Product/ Services detail
1.5 Departmental overview

2. LITERATURE OVERVIEW

3. THEORETICAL FRAMEWORK

2.1 BRAND IDENTITY

2.2 BRAND POSITIONING OF BOAT
2.3 BRAND LOYALTY TOWARD
CUSTORE
2.4 BRAND PERFORMANCE AND
IMAGRY
4 BRANDING STRATEGIES OF BOAT

5 Case Study
6 Factors Influencing Brand
Equity
7 Factors Influencing Brand
Equity
8 Recommendation and
conclusion
 1. GENERAL INFORMATION
1.1 INDUSTRIAL OVERVIEW

Introduction

The market for consumer electronic size is a sizable business that is expanding at a rapid
rate. The global market for consumer electronics was estimated to be worth USD 1.10
trillion in 2021 and is estimated to grow to about USD 1.70 trillion by 2028 and Zion Industry
Research has published research indicating that this market is anticipated to expand at a
compound annual growth rate (CAGR) of 7.6% from 2022 to 2028.

The industry is being driven by a number of factors, some of which are the rising disposable
incomes of consumers, the growing tendency towards digitization and automation, and the
increasing prevalence of personal electronic devices such as smartphones, laptops, and
other personal electronic devices. The COVID-19 epidemic has also had an effect on the
market because it has resulted in a rise in demand for devices that can be used for home
entertainment, remote working, and learning, as well as health and fitness.

The market for consumer electronics is currently the most lucrative in the Asia-Pacific region,
accounting for more than forty percent of the total market share worldwide. The existence of
multiple major manufacturers, an expanding population, and rising earnings available to
consumers are the primary factors contributing to the region's market growth.

The market for consumer electronics is forecast to continue expanding over the next few
years; new technological advancements and shifting customer preferences are projected to
be the primary drivers of innovation and competition within the sector.

The term "consumer electronics market" refers to the sector of the global economy that is
responsible for the production of electronic products that are intended for individual use,
such as mobile phones, computers, tablets, televisions, game consoles, and other
household appliances. The incessant desire for novel items that have enhanced features
and capabilities is the primary force propelling the growth of this market.

In recent years, the market for consumer electronics has shown substantial expansion,
which has been driven mostly by developments in technology as well as a rise in demand
from customers. It is anticipated that this rise will continue as the technological landscape
continues to evolve and consumers become increasingly reliant on electronics in their
day-to-day lives.

The market is extremely competitive, with many different producers and brands vying for a
part of the consumer base. Apple, Samsung, LG, Sony, and Microsoft are among the major
participants in this sector. Other major companies include LG and Sony. These businesses
put a significant amount of money into research & development in order to produce new
items and enhance their existing offerings. This helps businesses stay one step ahead of
their rivals.

Alterations in consumer preferences and behaviors are another factor that has an impact on
the consumer electronics industry. For instance, there has been a recent shift towards a
more environmentally conscious attitude to technology, which has resulted in an increase in
demand for products that are eco-friendly and sustainable. In addition, the COVID-19
epidemic has resulted in a surge in demand for devices that may be utilised for home
entertainment and remote working, such as laptops and webcams.

The market for consumer electronics is, in general, a dynamic and fast-moving business that
continues to develop as a result of advances in technology and shifting patterns of consumer
behavior.

Consumer Electronics Growth Drivers

There are several drivers of growth in the consumer electronics industry, including:

● Technological Innovation: Advancements in technology drive the development of

new and improved products, leading to increased demand and sales.

● Increasing Connectivity: The proliferation of internet-connected devices has

created new markets for consumer electronics products, such as smart home
devices and wearables.

● Changing Consumer Preferences: Consumers are increasingly looking for

personalized, convenient, and accessible products, leading to the development of
new products and business models.

● Demographic Shifts: The growth of the middle class in emerging markets and the
aging of the population in developed markets are creating new demand for
consumer electronics products.

● E-commerce: The growth of online shopping has made it easier for consumers to
research and purchase electronic products, leading to increased sales and
market penetration.

1.2 company overview

BoAt is an innovative and rapidly growing lifestyle brand that specializes in

consumer electronics, particularly audio accessories. With a vision to
transform the way people experience music and audio, boAt has made a
significant impact in the market, offering stylish, high-quality products that
cater to modern consumers' needs.
Founding and Mission: Founded in 2016 by Aman Gupta and Sameer
Mehta, boAt was born out of the desire to bridge the gap between
performance and affordability in the audio industry. The founders recognized
the evolving lifestyle of the digital generation and aimed to provide products
that seamlessly integrate technology with fashion and functionality.

Product Portfolio: boAt's product range includes a diverse array of audio

accessories, such as earphones, headphones, speakers, charging cables,
and wearables. The brand has gained particular recognition for its True
Wireless Stereo (TWS) earbuds, which offer a wire-free and immersive audio
experience. The products are designed to cater to various demographics,
from music enthusiasts and fitness buffs to gamers and travelers.

Innovation and Technology: Innovation is at the core of boAt's identity. The

brand consistently pushes the boundaries of audio technology, incorporating
advanced features such as Bluetooth connectivity, voice assistants, noise
cancellation, and personalized sound profiles. boAt's commitment to staying
ahead of industry trends ensures that its products reflect the latest
advancements.

Design and Aesthetics: boAt's products are known not only for their
performance but also for their stylish and vibrant designs. The brand
understands the importance of aesthetics in creating a unique identity, and
its products often feature eye-catching color schemes and sleek forms that
resonate with the modern consumer's sense of style.

Quality and Affordability: boAt has disrupted the market by offering

products that boast premium quality without the premium price tag. This
approach has resonated well with consumers seeking high-caliber audio
experiences at accessible prices, fostering a sense of value and trust in the
brand.

Market Presence: boAt has established a strong online presence, primarily

through e-commerce platforms, making its products easily accessible to a
global audience. Its strategic partnerships with popular online retailers have
contributed to the brand's rapid growth and wide market reach.
Brand Equity and Recognition: The brand has garnered significant brand
equity through consistent delivery of quality products, innovative marketing
campaigns, and partnerships with celebrities and influencers. boAt's strong
social media presence and community engagement further enhance its
brand visibility and customer engagement.
 Sustainability and Social Responsibility: boAt also focuses on
sustainability and social responsibility. The brand has taken steps to use
eco-friendly materials in its packaging and products, aligning with growing
environmental concerns.

1.3 Competitor overview

we will specifically discuss the financials of boAt’s top competitors, including

Noise, Fire-Boltt, OnePlus, Ubon, and Xiaomi. These brands directly compete
with boAt and manufacture the same line of products, including headphones,
earbuds, smartwatches, etc. However, it is crucial to know that boAt recently
entered the smartwatches market and received impressive results in terms of
sales and profit. Let’s take an overview of boAt and its top competitors:
Noise:It is also an Indian-based brand known for producing and distributing
wearable electronic products. Noise was founded by Gaurav Khatri and Amit
Khatri in 2016. This brand is popular due to its affordable smartphones that
come with advanced features. The company’s current status is unlisted shares
like boAt and allows retail investors to buy or sell its unlisted shares.
Fire-Boltt:Fire-Boltt is another leading Indian brand engaged in the
manufacturing and marketing of audio and other electronic wearable products.
It was founded in 2015 and is also considered a trusted smartwatch brand in
the International market. Fire-Boltt is operated by Savex Technologies in India,
which is an unlisted company.
Ubon:Ubon is an Indian electronic company that offers the most affordable
products, including earphones, headphones, portable speakers, etc. The
company was started in 1999 and has been a prominent player in the D2C
consumer electronic product sector. It is also considered a non-government
entity which is limited by shares.
OnePlus:OnePlus is a non-Indian brand known for producing a premium range
of products, including smartphones. This Chinese-based brand was founded in
2013 and headquartered in Shenzhen. OnePlus is not listed on any stock
exchange in India, due to which investors can’t buy its stocks.
Xiaomi:Xiaomi is another China-based brand that produces and markets
headphones, audio speakers, earbuds, and more. It was founded in 2010 by
the name of Xiaomi Corporation and listed on the Hong Kong stock exchange.
 A Quick Comparison Of boAt’s Financial With Its Competitors:

To make an investment decision, you must compare boAt unlisted share price with its top
competitors. You need to compare its financials with its peer competitors. Let’s see the
financial details of the companies in detail:

Particulars (in Rs cr.) boAt Noise Fire-boltt Ubon OnePlus Xiaomi

Operating Revenue 2,873 2,687 2,198 2,078 1,780 2,365

Net Profit 69 56 62 34 67 58

Profit Before Tax 99 89 76 27 58 45

Employee Benefits Expenses 56 65 67 10 36 31

OPM% 4.49% 3.34% 2.0% 3.1% 2.4% 1.8%

EPS 6.9% 5.8% 4.8% 3.1% – –

Depreciation 9 5 7 6 – –

The above table of the financial comparison gives a clear picture that boAt has
been performing well compared to its competitors. It is the financial data shared by
the company for FY22.

The share of boat in Indian market was 23.9% in Q4 2022.

The earwear category remained flat while smart watches grew by 73.6% in Q4
2022.

The share of smartwatches grew 17.9% in 2021 to 30.7% in 2022.

Smartwatches shipment were 30.7 million in 2022, a growth of 151.3%.

Basic smart watch dominated with 95.5% share. Wristbands fell 73.2% to half a
million.

Boat annual shipment grew by 9.3% at 29.3 million in 2022 which accounted for
19.7% of its overall shipment in 2022.

Boat Q1 2023 shipment was 25.1 million wearable unit shipped in India, registering
a strong 80.9% YoY but growth remained flat

1.4 Product and service details:

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
mid-2020, the manufacturers suggested retail price (MSRP) for BoAt's Airdopes
line ranges from ₹3,999 (approx. $53) to ₹6,999 (~$92).

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.

Tethered wireless earbuds

BoAt distributes a line of teathered wireless earbuds under its Rockerz and BoAt
brands. As of mid-2020, the undiscounted MSRP of BoAt's tethered wireless
earbud offerings range from ₹2,990 ($39) to ₹4,990 ($66)

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 betwen ₹2,990 (~$39) and
₹7,990 (~$105) depending on the model and its features.

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.

Wired headphones and earbuds

BoAt distributes a range of wired headphones and earbuds under the company's
BassHeads brand. The undiscounted MSRP for BassHeads-branded wired
headphones is around ₹2,490 (~$33). The undiscounted MSRP for wired
earbuds ranges from ₹799 (~$10.50) to ₹1,490 ($20) in mid-2020.

Like with most wired headphones and earbuds, BoAt's devices connect to a
standard headphone jack on mobile devices, computers, stereo systems, and
other audio-outputting devices. BoAt's devices draw power from the audio
source into which they're plugged in and do not require power from a dedicated
amplifier. The company's over-ear and on-ear headphones, as well as its in-ear
earbuds offer a degree of passive noise cancellation by partially occluding the
wearer's ear canals from external sound.

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.

Portable wireless speakers

BoAt sells a range of portable wireless speakers under its Stone and Rugby
brand names. Its speakers wirelessly connect to an audio source using
Bluetooth and are powered by built-in batteries. As of mid-2020, devices are
priced between ₹2,490 (~$33) and ₹12,999 MSRP ($171), without discounts,
depending on the model and features.

BoAt's wireless speakers come in a range of sizes and form factors designed for
different use cases. Its smaller, lower-powered devices are priced lower than its
larger wireless speaker options, which feature louder sound output, longer
battery life, and varying degrees of ruggedization in their designs.

Home audio equipment

BoAt distributes home audio equipment under its Aavante brand. The company's
home audio offerings primarily consist of sound bars and subwoofers for use
with televisions and other home theater equipment. As of mid-2020, BoAt's
home audio offerings are priced between ₹9,900 (~$130) and ₹24,990 (~$329),
without discounts.

BoAt's home audio equipment features multiple input modes, including

Bluetooth, USB-A, and auxiliary audio cable. Certain models are Bluetooth-only.
 Mobile accessories
The company distributes BoAt-branded mobile device accessories such as USB
cables (including USB-a to Lightning, USB-A to Micro USB, USB-C to Lightning,
and USB-A to USB-C connections) and auxiliary audio cables.

It also sells a range of portable external batteries under the brand

Energyshroom. These batteries can be used to charge a mobile device when
there is no access to a power outlet.

Special editions
BoAt produces limited editions of its various audio hardware products as part of
promotions or collaborative tie-ins with other brands.

1.5 Departmental overview:

1. Research and Development (R&D) Department:

The R&D department is responsible for innovation and product development.
They design and engineer new boat models, improve existing designs, and
integrate new technologies. This department collaborates closely with other
teams to ensure that boats are not only aesthetically appealing but also safe,
efficient, and functional.

Key Functions:

Conceptualizing and prototyping new boat designs.

Integrating cutting-edge technologies, such as navigation systems, propulsion
systems, and materials.
Testing and validating new designs in various conditions.
2. Manufacturing and Production Department:
The manufacturing department brings boat designs to life. They oversee the
production process, ensuring that boats are built to specifications, quality
standards, and within deadlines. This department also manages the supply chain
for materials and components required for construction.

Key Functions:

Crafting boat components, including hulls, decks, cabins, and interior features.
Assembling and fitting parts together to create complete boats.
Implementing quality control measures to maintain consistent product quality.
3. Design and Styling Department:
The design and styling department is responsible for creating the visual and
aesthetic aspects of the boats. They focus on interior and exterior design, color
schemes, materials selection, and creating a cohesive brand image.

Key Functions:

Developing interior layouts that optimize space and comfort.

Designing boat exteriors to ensure functionality, aesthetics, and aerodynamics.
Selecting materials, finishes, and colors that align with the brand's image.
4. Sales and Marketing Department:
The sales and marketing department promotes the company's products and
drives revenue generation. They engage with potential customers, create
marketing campaigns, and establish distribution channels to reach the target
audience.

Key Functions:

Developing marketing strategies to showcase the company's products and

unique value propositions.
Building and maintaining relationships with dealers, distributors, and clients.
Participating in boat shows, industry events, and advertising campaigns.
5. Customer Service and Support Department:
The customer service department ensures customer satisfaction post-purchase.
They handle inquiries, address concerns, and provide technical support to boat
owners. This department plays a crucial role in building brand loyalty and
maintaining long-term relationships with customers.

Key Functions:

Providing prompt and helpful responses to customer inquiries and issues.

Offering technical assistance, troubleshooting, and maintenance advice.
Facilitating warranty claims and repairs as needed.
6. Finance and Accounting Department:
The finance department manages the company's financial operations, budgets,
and financial reporting. They track expenses, revenue, and financial
performance to ensure the company's fiscal health.

Key Functions:

Budgeting and financial planning for various departments and projects.

Managing payroll, accounts payable, and accounts receivable.
 Generating financial reports and conducting audits.
7. Human Resources (HR) Department:
The HR department oversees employee recruitment, development, and
well-being. They handle matters related to hiring, training, benefits, and
workplace policies.

Key Functions:

Recruiting and onboarding new employees.

Organizing training programs to enhance employee skills.
Addressing employee concerns, ensuring a positive work environment.
8. Logistics and Supply Chain Department:
The logistics department manages the movement of materials, components, and
finished products. They ensure that the right resources are available at the right
time to support manufacturing and distribution.

Key Functions:

Procuring materials and components from suppliers.

Coordinating transportation and distribution of finished boats.
Optimizing supply chain processes to minimize costs and delays.

2: Literature overview:-
Branding in the context of boats refers to the creation and management of a unique identity,
image, and reputation for a specific boat manufacturer or model. It involves the development of
recognizable symbols, logos, names, and other elements that differentiate one boat brand from
another in the minds of consumers.

Brand equity, on the other hand, refers to the value and strength of a brand in the marketplace. It
encompasses both the tangible and intangible assets associated with a brand, including
consumer perception, loyalty, awareness, and overall brand reputation. In the context of boats,
brand equity reflects the extent to which a particular brand is preferred by consumers, which can
influence purchasing decisions and ultimately impact the financial performance of the brand.

In this review, we will explore various aspects of branding and brand equity as they pertain to the
boat industry, including strategies employed by boat manufacturers to build and maintain strong
brands, the role of branding in shaping consumer perceptions and preferences, the impact of
brand equity on sales and market share, and emerging trends in boat branding and marketing.

Brand Identity & Symbolism :

Why name an electronic accessories brand boAt? The 36-year-old co-founder Aman Gupta
points to the brand's tagline, ˜plug into nirvana, placed in large letters on a wall of the young
start-up's Hauz Khas office in Delhi. When you take a boat, you leave everything behind. You
plug into a new zone, he says. Philosophical meaning apart, the brand has literally plugged into a
new zone. Started in 2016, it retails in products such as chargers, Bluetooth speakers and
earphones, has already crossed an impressive 1 billion sales in its third year. It is an impressive
show and was done with little outside support. The founders hardly raised any money in the first
two years. The only funding round was in May 2018, from Kanwaljit Singh of Fireside Ventures,
who invested 60 million in the brand. I was impressed by their ability to spot a white space, the
founder's experience, the product quality and right targeting, says Singh. His fund usually invests
in early-stage consumer product companies. Gupta sounds assured, saying with a laugh, While
others have burn rate, we have earn rate. boAt Lifestyle has remained Ebitda positive from its
early days.

Innovation & Product Development :

Academic research highlights Boat’s commitment to innovation,particularly in product

development.
Studies examine the introduction of groundbreaking technologies in earphone & Headphone.
Such as Airdopes,Rockerz,and their impact on performance and consumer preferences.

Marketing strategies & Campaigns :Scholars analyze Boat’s marketing strategies, boAt
started with only accessories, but today offers a wide range of audio products, including boat
headphones, boat earphones, wireless speakers, wireless earbuds, home audio equipment,
wireless earphones, etc. They have something for everyone, and is a market leader for consumer
electronic products in affordable prices or high-end gear range.
Regarding sound quality, the boAt brand is known for delivering exceptional audio. This company
aims to deliver products designed to provide an immersive listening experience, and they often
use premium materials to ensure optimal sound quality.
Overall, boAt's products are well-made and offer great value for the price. This helps further boat
marketing strategy as they can position good quality products at affordable rates compared to the
competition in this category.

Global Expansion and Market Dynamics :

Literature discusses Boat’s next target is to become a 5-billion brand in three years time. The
start-up will expand it's team to 40-50 people, from 35, this year. The founder's confidence comes
from something unusual. Five out of 10 people we meet have still not heard about boAt. That is a
large pool of customers for us to reach, says Mehta. Luckily for them, the investors are going to
be patient with the start-up. They have sustained the growth momentum and we are in no hurry to
exit, says Singh. Seemingly, this boAt has set sail for distant horizons.

Corporate Social Responsibility :

Consumer electronics brand boAt, as part of its Corporate Social Responsibility (CSR) initiative,
has tied up with Shoobhi Foundation and water brand Wahter to provide clean and safe drinking
water to the public and communities across Delhi NCR.
 2. THEORETICAL FRAMEWORK

2.1 BRAND IDENTITY:-

The boAt is an Indian company that deals with audio tech that mainly focuses on products like
wireless speakers, earbuds, smartwatches, headsets, and earphones. All of them are quite
accessible in terms of price. the boAt was founded in the year 2016 by Aman Gupta and
Sameer Mehta. The main aim of the company is to provide people with fashionable tech and
be a part of their daily lifestyles. Currently, Vivek Gambhir is the CEO of the company.

Boat started its journey with the capital of just INR 30 lacs, which was invested by the
founders themselves. As per the reports of 2020, Boat is said to be selling 14,000 to 15,000 of
its products daily and has over 2 million customers and has bale to attract the attention of their
customers by developing a wide range of earphones, wireless speakers, Air dopes and
headphones. The quality and the price make it more approachable to its target audience.

2.2 BOAT’s POSITIONING AS A BRAND :-

The information provided highlights some key elements of boAt's marketing

strategy, which have contributed to its success in the Indian market. These
strategies include:

Aggressive social media marketing campaigns: boAt is known for its aggressive
social media marketing, which includes celebrity endorsements and partnerships
with social media influencers. This helps generate positive buzz and reach a larger
audience.

Innovative marketing initiatives: boAt has undertaken innovative marketing

initiatives like the "Rock with boAt challenge" and the "#MoreInEveryday" campaign
to engage with their target audience and create a strong brand image.

Exclusive partnerships: boAt has partnered with events like the Lakme Fashion
Week to showcase its products as fashion accessories. By carefully selecting brand
ambassadors and curating a relevant image, boAt stays connected with its target
audience.

Personal connection with the audience: boAt establishes a personal connection

with its audience through engaging and relatable social media content. This helps in
building a strong bond with the target market.

Highlighting the Unique Selling Proposition (USP): boAt emphasizes its USP, which
is providing affordable and high-quality audio products, in its marketing messages.
This sets boAt apart from other brands in the industry.
Active presence on social media: boAt leverages social media platforms effectively
to engage with its audience, promote new products, and offer valuable content. This
helps in building a solid online presence and reaching a wider audience.

Strategic use of influencers: boAt collaborates with relevant influencers who have a
genuine connection with the brand's identity. This ensures effective influencer
marketing and helps expand the brand's reach.

It can be concluded that boAt's brand positioning is focused on providing affordable

yet high-quality audio products that are both functional and fashionable . Overall,
boAt's brand positioning can be attributed to their focus on offering high-quality and
stylish audio products at an affordable price point.

2.3 Brand loyalty toward customers

customers are always at the center of everything they do. The brand’s core mission
is to elevate people’s lifestyles in an affordable way by providing luxury audio and
entertainment technology at attractive prices. In order to do so effectively, the team
embarked on a digital transformation journey in 2021, implementing Sprinklr to help
provide a solid, data-driven foundation to support its growth journey.

“To give customers what they want, we need to continuously listen to what's
happening out there in the market. What are our consumers generally talking
about? What features are they looking for in a product?” says Shashwat Singh,
Chief Information Officer at boAt. “By listening to all the chatter on social channels,
our goal is to provide our customers with what they want while maintaining a very
attractive price point.”

Boat emphasized responsive customer support, addressing customer queries and

concerns promptly. This contributed to a positive overall customer experience.

2.4 Brand Performance and Brand Imagery

● 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 ear
wear 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.

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.

3: Branding strategies of boat: -

Boat first started experimenting by creating Apple charger cables with
anti-destruction properties. It was the time when people were suffering because of
getting their charger cable damaged without any obvious reason.

Boat grabbed this opportunity and up their game by creating the indestructible
charger cable for Apple. This is how they stepped into the market with unique
products that solved the problems of the customers.

That was just the beginning, and then the company started creating products like
headphones and earphones. It was so reliable that it can be worn even while
working out or exercising. These products were able to become popular amongst
the younger generation who are into fitness.

Boat’s philosophy has always been to create experiences and not products. As a
brand, boat does't create products and tell the consumer how to fit them in their life.
Instead, it listens to the target audience and connects with their needs to create
products that enhance their lifestyle. What differentiates boAt is that it is an
aspirational yet affordable brand for enthusiasts who expect the latest available
technology but also seek style and affordability. It is high on style and fashion and
elevates audio and mobile accessories from commodities to fashion statements
that attract immediate attention and serve as conversation starters.

With an in-depth understanding of the Indian market and the consumer, we know
that the consumer electronics space in India lacks products design while keeping
Indian use cases in mind. Given factors such as dust and heat, tropical weather,
etc. there is a huge gap in the market for products designed to be more durable and
resistant to these factors while also appealing to the Indian consumer’s aesthetic
sensibilities. Boat’s products try to address this gap through a strong focus on
product design. For instance, the use of Kevlar fiber to considerably extend the
lifespan of its connector cables. The brand offers a lot more than just functional
benefits and this allows boat to be viewed as the first Indian lifestyle brand in the
sound and audio space €” the growing boat community is a testament to the same.

RESEARCH

These two understood the need and the gap in the Indian market and decided to
find a solution to the problem in an effective way. They found that consumers in the
Indian market needed long-lasting and tangle-free earphones which were of good
quality as well as affordable. Boat is one of the leading brands in the ear wear
category in india
EXECUTION

Boat left no stone left unturned on influencing people with influencer marketing.
Boat has not struck the deal only with influencers but also with celebrity
endorsements, cricketers, content creators, and even, stylists.

4: Boat Branding Case Study: How boat Captured the Audio

Market

Technology has advanced to such a level that, we are surrounded by some of the
greatest inventions of humankind. Wherever we looked at, we are surrounded by
electronic devices from smartwatches, to wireless speakers to wireless earbuds; all
of these are keeping us preoccupied with their services.
The tech market is at its top form now. Music is something that soothes our soul, so
there is hardly anyone who doesn’t like listening to music. It becomes even better
when you’re travelling alone, nothing can beat the feeling of having music as your
companion.
Now, every person has their own preferences, including for music as well, in this
case, headsets and earphones are mandatory so that you can listen to your favorite
tracks without being a hindrance to others.
The demand for headphones and earbuds has increased at an immense level in
the last few years. So much so that we will always find a person holding one of the
equipment, all the time. There are various companies that provide all types of
mobile phone assortment to their customers including earphones and headsets.
Among them, one of the most famous ones in India is the company called boat.
In this article, we will talk about boat's branding strategy and how it has established
itself with its prominent and quality products as one of the most loved consumer
electronics brands in India.
“What new technology does is create new opportunities to do a job that customers want
done.” –Tim O’Reilly
Branding Strategy of boAt

boat first started experimenting by creating Apple charger cables with

anti-destruction properties. It was the time when people were suffering because of
getting their charger cable damaged without any obvious reason.
boat grabbed this opportunity and up their game by creating the indestructible
charger cable for Apple. This is how they stepped into the market with unique
products that solved the problem of customer.
That was just the beginning, and then the company started creating products like
headphones and earphones. It was so reliable that it can be worn even while
working out or exercising. These products were able to become popular amongst
the younger generation who are into fitness.

Target Audience

From the beginning boAt was focused on the youth who are into fitness, they made all
theproducts by keeping their target audience in mind. The demand for indestructible products
has been increasing day by day, they understood it and started developing it. Plus with
various advertisements, they tried to capture the attention of their target audience.

Promotion and Advertisements

To promote the durability of the products, boAt made advertisements where it can be seen
people wearing all those gadgets while doing intense workouts and jogging, this proves what
the brand is trying to convey to its audience.
From the very first, boAt was focused on marketing through digital marketing and social
media. It took up many social media influencers to promote the products as well as their
brand. Apart from that various celebrities like Cricketers Rishab Pant, Shikhar Dhawan, Virat
Kohli, Shreyas Iyer were a part of a group of celebrities who endorsed boAt.
Not only that Bollywood star, Kiara Advani, Kartik Aaryan, and singer Neha Kakkar and Diljit
Dosanjh were present in the list of celebrities as well. They mainly focus on athletes for the
promotion of their brand.
Apart from all these, boAt has collaborated with Lakme Fashion week in 2019, promoted its
products, and introduced itself as a lifestyle brand instead of an electronic brand. With
developing products like smartwatches, portable speakers, and other wearable gadgets it has
truly transformed itself into one.
These collaborations with different brands that are liked and followed by the youth are getting
boAt its audience. Recently, boAt has collaborated with Bira 91, and the products of boAt can
be seen in the music video.
Pricing and Quality of the Products

The best factor and one of the reasons that the brand boAt became such a success was its
pricing strategy. Neither it is extremely overpriced nor it is unimaginably cheap, it is just in
between. The target audience of boAt is mainly youth so they find it perfect to invest in.
Apart from that, even being affordable, boAt has taken special care of the quality of its
products; it hasn’t compromised with it even a bit. The current revenue of boAt as per the
2021 financial year is Rs 1,511.7 crore.

Conclusion

It has been 6 years since boAt was founded and within a little, it has been able to capture the
world of electronic gadgets in a mesmerizing way. It has established itself as the 5th largest
brand of wearables in the world and the number 1 audio earwear brand in India. By putting all
the branding strategies properly, and selecting their target audience carefully, boAt has
achieved an immense level of success and it is only going to get bigger and better in the
future.

5: Factors Influencing Brand Equity:-

For any business to succeed, the customer value proposition should be solid and
probably the most focused aspect. With a similar approach, Boat created its first,
rather unique, product which was an indestructible Apple charger cable. This was
the time when the Apple cables damage for no apparent reason. It was a matter of
discussion on Facebook feeds and on Twitter handles. Although some Youtubers
and bloggers have come up with explanations as to why they face this problem,
almost globally, what better than creating an item that defies this phenomenon.
That’s what BoAt did.

Boat created the first ever product with anti-destruction properties. This was just the
first step in making many items that would be shockproof and fall proof. It soon had
a range of fall proof headphones and earphones under its bucket that could even be
worn while jogging or working out. This was a crucial tap into the young audience
segment as the emphasis on fitness is more than ever. Also creating branded
commercials or posters with people wearing the Boat earphones while working out
or running, helped emphasize on the utility aspect of the products.
Promotion

Talking about commercials, Boat certainly has a few great collaborations. Its major
source of promotion is through influencer marketing and even celeb word of mouth.
Here is an influencer flaunting their Boat product on the Instagram feed.
BoAt calls their user base BoAt Heads. And this list includes some very famous
names like Virat Kohli, Karthik Aaryan and Neha Khakkar. Who wouldn’t want to fall
in this category?
The sole means of marketing and promotion for Boat products is through social
media and digital marketing. The company has stayed away from TV commercials
or print. Rather you could find Boat Ads on Facebook and Google – the place where
all the young crowd is at!

Pricing!

Boat calls itself the Zara of earphones company. Not as expensive as the premium
brands, but neither cheap like Chinese brands. The company has the perfect spot
in the market. Users can find it easy to invest in a Boat product due to its price
point, and more so even users can get heavy discount on boat products. It has an
appeal to the masses. And with a focus on style, it has the appeal right where it
wants to: the youth.
Quality
Although affordable when it comes to price, Boat products have a promised quality.
It knows that Indians love bass, and thus it delivered the same. One of the first Boat
earphones was called Bass Heads. The pair had bass enabled that could enhance
the beats. Other than that, Boat products have texture, colour, print, and innovation
that would easily make a fashion lover invest in one of its products, especially when
they are on a budget.
Target marketing
Boat getting the target audience right is surely one of the main factors in the
success of the brand.
The demand for such items was ever increasing among the people. Let that be due
to more emphasis being given to fitness than ever before (shout out to social media
for that), or simply audibles becoming more of a must-have than just an option for
many. The trend did create a firm grip on peoples’ lifestyles. Boat understood the
same and created the exact products that appealed to the youth.

Quality
Although affordable when it comes to price, Boat products have a promised quality.
It knows that Indians love bass, and thus it delivered the same. One of the first Boat
earphones was called Bass Heads. The pair had bass enabled that could enhance
the beats. Other than that, Boat products have texture, color, print, and innovation
that would easily make a fashion lover invest in one of its products, especially when
they are on a budget.
Target marketing
Boat getting the target audience right is surely one of the main factors in the
success of the brand.
The demand for such items was ever increasing among the people. Let that be due
to more emphasis being given to fitness than ever before (shout out to social media
for that), or simply audibles becoming more of a must-have than just an option for
many. The trend did create a firm grip among peoples’ lifestyles. Boat understood
the same and created the exact products that appealed to the youth.

Boat – the Lifestyle brand

Boat collaborated with Masaba Gupta during the Lakme fashion week back in 2019
subtly renouncing itself to be not just an audibles or electronics, but a lifestyle
brand. This helps it stand out among the competitors like JBL or Skullcandy. It also
could help the company keep on continuously innovating products with a motive of
making people’s life easy. Other than earphones, the brand also has created a
range of sound bars, speakers, and sound systems in the years eventually. Being
called a lifestyle brand, opens doors for many such products for Boat in the near
future.
Coming back to the Lakme Fashion Week, the models were seen wearing BoAt
products as the only accessories on the runway which Boat created a limited edition
range of headphones for.

6: challenges and opportunity:-

Boat - Challenges Faced

In its early stages, boat faced formidable challenges, especially in convincing Chinese
contract manufacturers to produce in small quantities. A crucial juncture arose as the
dedicated boat team, immersed in product and packaging design, implored manufacturers
with a commitment for larger orders in the future: "Please support us now, we will order more
later."
The logistical intricacies unfolded as products were shipped to the Indian company,
maintaining minimal inventory, and Amazon took charge of distribution. Prior to the official
launch of its brand in 2016, boat served as a distributor for the international audio brand
House of Marley from 2014 to 2016. boat's early narrative was defined by bootstrap funding,
approximately Rs 30 lakh from the founders, and the resilience to surmount financial
challenges.
Even with such modest beginnings, boat faced enduring difficulties in the fiercely competitive
business. The business negotiated the challenging terrain of producing fashionable goods at
reasonable prices, a challenge made more difficult by a market full of equally skilled rivals.
Boat's dedication to conquering challenges and providing cutting-edge audio solutions has
been important in forming its success story in the tech sector as it carved out its place.
Opportunities

● One of the ways that these businesses readily expand is by developing

several 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.

Boat also had a opportunity to partnership with following brand or events .

Netflix

Boat partnered with Netflix in December 2022, and through this collaboration, boat
announced that it would launch True Wireless Earbuds (TWS), On-Ear
Headphones, and Wireless Neckband.

Boat partnership with IPL team

Boat agreed to become the official audio and wearable partner of three Indian
Premier League (IPL) clubs, including Gujarat Titans (GT) and Royal Challengers
Bangalore (RCB) in March 2023.
The company stated in a press release that it also extended its relationship with the
Kolkata Knight Riders (KKR) and continued to serve as the team's official audio
partner throughout the IPL's 16th season.

ONDC Partnership through Shopalyst's Plugin

Boat and Shopalyst teamed up to make their product catalog searchable on the
Open Network For Digital Commerce (ONDC). Through this partnership, boat
aimed to create multiple consumer touchpoints in May 2023.

Reliance Digital

boat partnered with Reliance Digital in September 2023, and through this
collaboration, they planned to introduce 3D hologram projections as part of an
exciting retail experience featuring the boat Smart Ring.
7: Recommendations and Conclusion:-
As a result, the company wants to ensure that customers stick with the brand and
don €™t move away to its competitor. boat says 20 percent of its sales come from
wired headphones while the remaining comes from wireless and true wireless
segments. With the TWS segment catching up in a big way, the company sees an
opportunity to become a leading player in that space as well. One of the ways that
boAt can become a leader in the true wireless earbuds market is by relying on
Qualcomm’s newest chipsets. These chipsets are designed to bring noise
cancellation to wireless earbuds. Aman Gupta says that consumers are already
aware of this new chipset and want them in new products. boAt will definitely
launch new audio products with the afore mentioned Qualcomm chipsets. For
Aman, the goal remains as simple as adapting to consumer demands and offering
better products than his rivals. He adds that true wireless earbuds are not even 5
percent of the market and has huge room to play.TWS is an early mover game right
now and will become mainstream in two years, he quipped. Technology is the
biggest enabler in the world that we live in right now. After talking to Aman Gupta, it
became clear that technology can make lifestyle better for a lot of us. When it
comes to audio, boAt Lifestyle wants to be at the forefront of that change. While the
COVID outbreak has been a big disruption, the company sees it as a minor
roadblock. It wants to come out of this situation stronger and more focused towards
boat head community. Only time will tell what it comes next, but it is definitely
inspiring to see a young tech company try to change the narrative in the industry.

Within 6 years, boat company has successfully captured the whole world of
electronic gadgets in a spellbound way. It has established itself as the 5th largest
wearable brand in the world and the number 1 brand in India. The marketing
strategies of the brand are commendable. The company mainly focuses on smart
and crisp marketing campaigns. They have smartly used the digital platform for the
promotion of their products. Even during the pandemic, the brand used different
tactics to stay relevant in the market. Their popularity has forced other big
companies like JBL to lower their product prices to compete in the affordable audio
device category.