A

Comprehensive Project

Report On

BRANDING AND BRAND EQUITY OF “BOAT”

SUBMITED 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

Miss. Sayali Kharpate

Submitted by

Sr. Name Enrolment No. 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
 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. Division

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

DR. SHANTANU CHAKRAVARTY MR. RAHUL CHAUHAN

[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 Guide:
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. THEORETICAL FRAMEWORK

2.1 BRAND IDENTITY

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

4. Case Study
5. Factors Influencing Brand Equity

6. Factors Influencing Brand Equity

7. 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. 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 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.

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 5 th 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.