How Boat Killed Its Competitors | Boat Genius Marketing Strategy | Business Case Study
Aman Gupta is the favourite Shark of almost all the entrepreneurs that came on Shark Tank.
From being a CA to being one of the most successful entrepreneurs with more than 1500 cr valuation, Aman Gupta showed how can an ordinary person can change the whole scenario of the market.
So in this blog, we will tell you how Aman Gupta gave tough competition to its competitors and how BoAt became the most successful brand.
Consumer electronics brand BoAt was established in 2015 and sells earphones, headsets, travel chargers and rugged cables. Imagine Marketing Services Private Limited, which operates as BoAt, was formed in November 2013 by co-founders Sameer Ashok Mehta and Aman Gupta.
The boAt is the brand name of the manufacturer of audio equipment and accessories Imagine Marketing Services Private Ltd., co-founded by Sameer Ashok Mehta and Aman Gupta in November 2013 to “make audio equipment and accessories more affordable, durable, and, most importantly, trendy for millennia”.
As a former Harman International sales director and before co-founding Imagine Marketing Services (BoAt), Gupta coordinated the distribution of consumer electronics brands distributed by Harman International, such as JBL, Harman Kardon, and AKG. Now based in New Delhi, Gupta is still employed by Harman International.
|Founders||Sameer Mehta and Aman Gupta|
|Headquarters||New Delhi, India|
|Funding||$116.3 mn (December 2021)|
|Valuation||$299.59 mn (INR 2200 Crore) as of April 2021|
|Revenue||$206.07 mn (INR 1531 crores in FY21)|
|Sector||Electronics and Fashion|
BoAt’s co-founders include Aman Gupta and Sameer Ashok Mehta. Before co-founding BoAt, Gupta was the director of sales at Harman International, where he managed a portfolio of consumer electronics brands including JBL, Harman Kardon, and AKG. Gupta’s first entrepreneurial experience was as co-founder and CEO of Advanced Telemedia Pvt Ltd, which helped launch global brands such as Beats Audio, Sennheiser, and Telex, among others, in the Indian market.
Sameer Ashok Mehta is co-founder of BoAt.
Mehta has extensive business and executive leadership experience. He owns Redwood Interactive, which distributes computer gaming hardware and peripherals under the Redgear brand. He is also a director at Kores India Ltd., a company owned by his family. He was appointed to his position as director at Kores India in February 2010.
Some of the Boat products are:-
Airdrops are wireless earbuds distributed by BoAt. Currently, the manufacturer’s suggested retail price (MSRP) ranges from ₹3,999 (approx. $53) to ₹6,999 (~$92), Airdopes 431 wireless earbuds, Airdopes 431 wireless earbuds.
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.
In addition to its in-ear headphones, BoAt offers wireless headphones under its BoAt, Rockerz, and Nirvana brands. Its headphones are priced between *2,990 (*$39) up to *7,990 (*$105) depending on the model and features. One of the company’s flagship models is the Nirvana 715 ANC, which offers active noise cancellation.
With BoAt headphones, you don’t need a cable or wire to connect to an audio source, and BoAt’s devices provide all the functionality of wireless headphones. They are Bluetooth-enabled, so you can listen to audio from a mobile device, computer, or stereo system wirelessly, using lithium-ion batteries built into BoAt headphones.
Several 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). Connecting headphones to an audio source with the auxiliary audio cable do not drain the battery on most models. Wired headphones and earbuds
The company’s BassHeads brand distributes a range of wired headphones and earbuds in mid-2020. The undiscounted MSRP for BassHeads-branded wired headphones is about *2,490 (*$33); the undiscounted MSRP for wired earbuds is about *799 (*$10.50).
BoAt’s wireless headphones and earbuds connect to mobile devices, computers, stereos, and other audio-outputting devices via a standard headphone jack, and they are powered by the source of audio they’re connected to and do not require a separate amplifier for power. Through its over-ear, on-ear, and in-ear headphones, the company offers passive noise cancellation by partially occluding the wearer’s ear canals from external noise.
Boat – Business and Revenue Model
The company focused on 3 important market strategies to create a good consumer base –
- Consumer’s Needs
- Consumer’s Desires
- Consumer’s Behaviour Pattern
BoAt’s vision is to build a customer-brand relationship where it views its customers as a part of the BoAt family. They also focus on the boAt brand and position it as an Indian brand for its marketing.
Since Indians are very fond of cricket and Bollywood films, BoAt chose to have cricketers and other celebrities become its brand ambassadors. All of this helped BoAt create a considerable consumer base and become a billion-dollar company.
Some other strategies that helped boAt climb the ladder of success in the audio segment of the Indian market are:
Putting customers first – BoAt has chosen to call its users “boAtheads”, thereby letting them become a part of their clan instead of being anonymous.
A range of improvisations – Boat is known for its innovations and improvisations. The company carved out an indestructible cable for the Apple mobile users after discovering the endless complaints of the Apple charging cables. As soon as it sensed the urgency of sports and fall-proof headphones, boAt immediately moved out to build them, which are now available in a variety of colors.
Positioning as a lifestyle brand. Boat refers to them as a lifestyle brand rather than referring to them as a consumer electronics brand.
The boAt catalogue of products continues to grow, from cables to chargers to audio products, boAt is constantly introducing new, innovative products powered by innovative technologies.
Customer targeting – Young people and millennials are the flagship customers of the brand and they are making sure to impress them at any cost, which is why they are heading forward quickly.
Marketing in digital media – The company has remained away from traditional channels, choosing instead the digital way of marketing. Platforms like Facebook and others have proven to be the cornerstone of its success.
Boat – Competitors
The top competitors of the Boat are Gonoise, Mivi.
GONOISE is the largest competitor to Boat. It is a company based in the city of Gurgaon, Haryana, India, which was founded in 2014. GONOISE is a provider of electronic equipment.
The company, which was founded in 2015 in Telangana, Andhra Pradesh, India, is a major competitor of Boat. Mivi also operates in the field of electronic equipment.
Boat – Awards and recognitions
Numerous organizations have rewarded the brand and recognized it on numerous occasions. Here are some of the most prominent awards and recognitions:
The company has been recognized as “India’s number-one brand for wireless headphones and earwear in 2020.” By 2021, BoAt will be an official audio partner of six Indian Professional Football Leagues (IPL) teams. On top of that, the company has partnered with celebrities, including Hardik Pandya and Diljit Dosanjh.
Who is the founder of BoAt?
The founder of BoAt is Aman Gupta.
Is BoAt a Chinese company?
An Indian company established in 2015, The BoAt is headed by CEO Aman Gupta, The BoAt has been appreciated for its quality since day one, and in 2020, the Boat company was named the fifth-biggest wearable brand worldwide, and it was the first company from India to achieve that position.
Why is boAt so popular?
Established in 2016, boAt is hailed as one of India’s leading earwear and audio brands. With an awesome range of earphones, earbuds, headphones, and wireless speakers, the company stands out due to its exceptional quality, affordability, and world-class designs.
Are boAt and Boult the same company?
Boat and Boult are both Indian brands that provide high-quality products. Both of these brands manufacture headphones, earphones, speakers, earbuds, and more.
Who is the brand ambassador of boAt?
Rashmika Mandanna is the brand ambassador of boAt.