Introduction
boAt Lifestyleis a affordable, fashionable, and durable product and accessories manufacturing company. The founder is Sameer Mehta and co-founder Aman Gupta. Sameer Mehta was the director Case India, and Aman Gupta completed his CA ( chartered accountant ) at the age 21. He also completed his MBA from Callok School in the year 2011.
In the year 2021, boAt made Rs1500 crore turnover, last year the growth was 61% and 36% of market share of TWS ( True Wireless Stereo ) and crossed $ 1Billion revenue in the year 2019. This was the story of boAt and all this was don in last few years.
Business Model
Customer Focus:
Sameer Mehta and Aman Gupta spend his two golden years to research the market. They already know the competition is very high in the Handset industry, so he started understanding that what the customer want. They also noticed that the customer don't want long plastic wires. So he decided to designed the short wired metallic handset. He also noticed that customer want punchy sound , so he designed earphone that produces punchy sound.
Customer first and Improvisation:
The boAT was improving hiss product day by day because the customer can connect them and satisfy with their product. They treated the customer like God. Then he started launching their more product like Charger which was better quality as compared to other product of that category. They launched headphones which was more classy as of another brand. The understanding the urgency of customer and improving the product was the main reason to be successful in audio brand.
boAt a Lifestyle brand:
The The boAt sold its product as a lifestyle brand. They told their customer that it is not only the electronic product, its part of your fashion.
Target Customer:
boAt was targeting the young customer between 18 yrs to 35yrs old. The image of the boAt brand in like a millennial brand. The company manufacturing the stylish and affordable product which directly attracting the youth. The most population of India is youth, so they are capturing the maximum market of India . The youth of India is intrested in Bollywood and Cricket, so that's why their brand ambassador is Cricketer and Bollywood Celebrity. Headphones of boAt targeting India fitness freak youth is the major reason of growth of boAt.
How the boAt became a brand?
The company boAt has started in 2013, but the maximum profit they made after 2016.
There are four category of Headphones in the market.
Ultra Premium :
Ultra premium ranges between Rs15000 to Rs20000 and the king of ultra premium market is Apple and Bose.
Premium:
Premium category ranges between Rs10000 to Rs15000. The brand king of this area is JBL handset company.
Sub Premium:
The third category of the handset category is sub premium . The brand king of this category is Sennheiser.
Affordable:
The last category is affordable which prices ranges below Rs5000 There was no one in this area , so they decided to rule here.
Conclusion
The success of Indian customer electronic company that emphasis the value of identify and getting the need of particular target market. boAt is stand out of rivals and built a devotee customer base by concentrating on millennial generation and their passion for music The companies focus on cutting edges design, high quality goods, and reasonable cost has also aided in its quick development and success in fiercely competitive Indian market. The boAt case study emphasis the significance of comprehending your target.
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