MARKETING, THEORY AND PRACTICE

Group-B

Integrated Marketing Project – Boat Stone 1500

Interim Report

Submitted to:

Dr. Mrinmoy Bhattacharjee

Submitted by:

Pranav Singh - PROV/MBA-7-22/048

S. Thirsha - PROV/MBA-7-22/032
Kumari Akanksha - PROV/MBA-7-22/045
Katta Satya Geeth - PROV/MBA-7-22/018
Mahesh Sarswat - PROV/MBA-7-22/027
 Table of Contents

1. Abstract

2. Module 1 – Customer Value Analysis

• Identifying major attributes and benefits that customer values.
• Assessing the quantitative importance of the attributes and benefits.
• Assessing the company’s and competitor’s performance against the quantitative
importance given by the customers.
• Examining how the customer rates the company’s performance against the major
competitor.
• Assigning weights to the attributes identified and the determining the scores for
the company’s product and competitor’s product.

3. Module 2 – Demand Computation - Market Sizing

• Computation of following for “BoAt Stone 1500”:
• Total Addressable Market (TAM)
• Serviceable Addressable Market (SAM)
• Share Of Market (SOM)

4. References
 Abstract
This interim report shows the current progress on the MTP project “Integrated
Marketing Project – Boat Stone 1500”. The objective of the project is as follows:
-

1. To conduct a Focus Group Interview and find out the attributes and benefits of
the speakers in general.
2. To prepare a questionnaire & conduct a survey to quantify the attributes the
customer will prefer.

3. To assess the competitor’s product and our product with the quantified
attributes.
4. To examine the how customer rates our product against the major competitor

5. To determine scores and compare the products.

6. To compute TAM, SAM & SOM for Boat Stone 1500.

With the help of primary data & secondary data as mentioned in the references, all
the charts and information related to the objectives has been shown in the report.
 Module 1 – Customer Value Analysis
• To know about the attributes which customer look at while buying a speaker,
we conducted a Focused Group Interview with 10 people and from that we
listed down the following attributes: -

1. Battery Life
2. Size
3. Audio Quality
4. Bluetooth Availability
5. Water & Dust Resistance
6. Availability of ports

• To understand these attributes better we wanted to identify the benefits that the
customers received from these attributes which are as follows: -

1. Better mobility if the speaker has a good battery life and is compact in size.

2. Easy connectivity as the speaker has ports available if the Bluetooth is not
working.

3. Able to listen to the sound in noisy environment with the good audio quality.

4. Possible to take it out for outdoor activities if the speaker is water and dust
resistant.

• After listing down the attributes and benefits, we prepared a questionnaire

around the attributes to understand better about the customer preferences and to
quantify the attributes. A sample of questionnaire is attached for reference in the
next page.
• We got 36 responses for the survey we have conducted and following are the
graphs and interpretations for understanding the attributes.

• Most of the people who filled the survey are from the age group of 20-24 years,
which means that youth form a major part of people who know about our
product.

• Out of the 36 responses we got 91.7% of the people are actual users of speakers
which helped us to get real data.
• When given a choice between battery life and the size of the speaker, 78.8% of
the people prefer battery life over size which shows that people are ready to
make compromise on the compact speakers if they get another speaker with a
better battery life.

• To understand the connectivity attribute better we asked people about which

type of connectivity will they prefer wireless (Bluetooth) or wired (Availability
of ports). 51.5% said that they will prefer both which shows that people want a
backup connectivity in the speaker if the usual connectivity fails.
• Now we asked the people whether they use their speakers while they are
participating in any outdoor adventure activity (camping, trekking, etc.). Since
their speaker is more likely to be exposed to wear and tear, we wanted them to
answer so that we can understand the preferences related to audio quality and
build quality of the speaker.

• Out of the 26 people who use the speaker for outdoor activities, 92.3% preferred
to have a good build quality for their speakers which shows that even if the
weight of the speaker is slightly more than usual, they’ll prefer it because of the
good build quality.
• When given a choice between audio quality of the speaker and build quality
57.7 % of the people tend to look at both attributes in their speakers. This means
that the speaker should be able to provide good audio quality outdoors and it
needs to have a good build quality to prevent wear and tear.

• Since the speakers are being used outdoor and there are weather uncertainties
during the monsoon season, 96.2% of the people would prefer to have a water
resistant speaker.
 Boat Stone 1500 and their major competitor

• Boat launched the Stone 1500 which is a 40 W speaker that competes directly
with its major competitor JBL’s Xtreme speakers.

• Below is the visual representation of both speakers.

“Boat Stone 1500” “JBL Xtreme”

• To assign scores for the major attributes for both products we gathered secondary data and
from that data following scores were assigned out of 10 (1 being the lowest and 10 being the
highest) to the products:

Attributes Boat Stone 1500 JBL Xtreme

Battery Life 5.5 5.1
Size 5.7 2.9
Audio Quality 6.7 7.9
Build Quality 6.4 6.9
Connectivity 5.5 4.3

• From the table we can see that in most of the attributes, Boat has performed close to its
competitor but the only attribute due to which customers prefer boat over JBL is the size.

• This shows that they have done a very good job in providing all the attributes that their
competitor is providing but in a smaller size and a better design.
 Module 2 – Demand Computation – Market Sizing
In this module we have shown what is the Total Addressable Market (TAM),
Serviceable Addressable Market (SAM) and Share of Market (SOM) for our product
Boat Stone 1500.

• For the Total Addressable Market (TAM), we have used the formula:

TAM = No. of Possible customers (units sold in the world) * Average price of Boat Speakers

TAM = 227 million * $87 = $19.749 billion

This is the Total Addressable Market that boat can capture in the world.

• For Serviceable Addressable Market (SAM), we have used the formula:

SAM = No. of possible customers reachable * Average price of Boat speakers

SAM = 13.8 million * $87 = $1.2 billion

This is the Serviceable Addressable Market that boat has.

• For Share Of Market (SOM), we have used the formula:

SOM = Previous year’s Market Share * Current year’s SAM

SOM = 35.8% * $1.2 billion = $429 million

This is the market share which Boat has acquired in the speaker segment.

• Below is the visual representation of TAM, SAM & SOM

 References
1. Google Forms Survey Link- https://forms.gle/J5HRWD9CoForSmF9A

2. Ratings for the Attributes- https://versus.com/en/boat-stone-

1500-vs-jbl-xtreme

3. Serviceable Addressable Market data -

https://www.statista.com/outlook/cmo/consumer-electronics/tv-radio-
multimedia/speakers/india

4. Share of Market data - https://gadgets360.com/audio/news/boat-realme-noise-

apple-boult-audio-tws-earphones-shipments-q3-2021-counterpoint-2597981

5. Total Addressable Market data - https://www.mordorintelligence.com/industry-

reports/wireless-speaker-market

6. Understanding TAM, SAM, SOM -

https://www.similarweb.com/corp/blog/research/market-research/market-
sizing/#:~:text=Serviceable%20Addressable%20Market%20(SAM),-
SAM%20refers%20to&text=This%20is%20the%20maximum%20market,of%20elect
ric%20toothbrushes%20for%20kids