MAJOR PROJECT REPORT

ON

MARKETING STRATEGY
in partial fulfilment of the requirements for the award of

Bachelor of Business Administration in (E-commerce)

(2021-2024)

Submitted by : Submitted to:

Chirag Rao Mrs. Aarti Joshi
BBA- 6th semester
Enrollment no- AX1790991017

1
 Certificate

Certified that this project report “Project report on BoAt’s marketing strategy”
is bonafide work of Chirag Rao carried out the project work under my
supervision. This is to further certify to the best of my knowledge, that this
project has not been carried out earlier in this institute and the university.

(Signature of the Project Guide)

2
 Acknowledgement

I am using this opportunity to express my gratitude to everyone who supported

me throughout the course of this BBA(E-COMMERCE) project. I am thankful

for their aspiring guidance, invaluably constructive criticism and friendly advice

during the project work. I am sincerely grateful to them for sharing their truthful

and illuminating views on a number of issues related to the project.

I express my warm thanks to Mrs. Aarti Joshi for their support and guidance .

Thank you,
Chirag Rao

3
 Declaration

I hereby declare that the project report “Project report on boAt’s marketing
strategy” is based on my own work carried out during the course of our study
under the supervision of Mrs. Aarti Joshi. I assert the statements made and
conclusions drawn are an outcome of my research work. I further certify that

i. The work contained in the report is original and has been done by me under
the general supervision of my supervisor.
ii. The work has not been submitted to any other Institution for any other
degree/diploma/certificate in this university.
iii. I have followed the guidelines provided by the university in writing the report.
iv. Whenever I have used materials (data, theoretical analysis and text) from other
sources, I have given due credit to them in the text of the report and giving
their details in the reference.

Chirag Rao

4
 INDEX
CHAPTER CONTENT PAGE NO.
NO.
1 EXECUTIVE SUMMARY 6

2 INTRODUCTION 7-15

3 COMPANY PROFILE 16-22

4 LITERATURE REVIEW 23-25

5 COMPETITORS 26-27

6 PROBLEM DEFINITIONS 28-29

7 OBJECTIVE OF PROJECT 30-31

8 SCOPE OF STUDY 32-33

9 LIMITATIONS OF STUDY 34-35

10 HYPOTHESIS 36-37

11 RESEARCH METHODOLOGY 38-39

12 DATA ANALYSIS & 40-54

INTERPRETATION
13 SWOT ANALYSIS 55-56

14 MARKETING MIX 57-58

15 PORTERS 5 FORCES 59-60

16 FINANCIAL ANALYSIS 61-67

17 MARKETING STRATEGY FOR INDIA 68-73

18 FINDINGS 74-75

19 SUGGESTIONS 76-77

5
20 CONCLUSION 78-79

21 BIBLIOGRAPHY 80-81

22 ANNEXURE 82-83

6
 CHAPTER 1
EXECUTIVE SUMMARY
BoAt Lifestyle is a consumer lifestyle brand which experienced rapid growth due
to its strategic selection of the millennial generation as its target Market. The
founders of boAt identified that this Market, while price sensitive, were willing to
pay more for fashionable items with improved quality / durability. BoAt also used
strategic celebrity promotion and social media to building a strong brand identity
and affiliation with its consumers. Given that boAt has achieved such a strong
market position it now must consider what it does next to maintain that position
and further grow the company.

This marketing plan has identified the following objectives:

Short Term objectives:-

•Retain TWS earbud market leadership

•Increase smartwatch market share
•Increase local manufacturing of product (Make in India)

Long Term Objectives

•Build brand loyalty and brand equity

To achieve these objectives, the following key actions are required to be

implemented:

•Undertake a product audit with a view to consolidate the product line

•Develop focused products for mid-life millennia’s, children of millennia’s and
tertiary students studying abroad.
•Develop & Implement local manufacturing to support target market segment
promotion
•Develop a brand equity measurement and monitoring system.

7
 CHAPTER - 2
INTRODUCTION

8
 CHAPTER 2
INTRODUCION

 BoAt is an India-based consumer electronics brand established in 2014 that

markets earphones, headphones stereos, travel chargers and premium rugged
cables. Imagine Marketing Services Private Limited, which does business as
BoAt, was incorporated in November 2013 by co-founders Sameer Ashok
Mehta and Aman Gupta
 BoAt is an India-based company which was incorporated in November 2013.
BoAt markets earphones, headphones stereos, travel chargers, and premium
rugged cables.
 D2C consumer electronics startup boAt continues to lead India's wearables
market, according to a report by International Data Corporation (IDC). The
Aman Gupta-led startup secured a 32.1% share in Q3 2022, aided mostly by
earwear devices.
 BoAt was founded with the "sole aim of bringing affordable, durable, and
more importantly, 'fashionable' audio products and accessories to
millennials", which can be termed the mission and vision of BoAt company.
 BoAt Marketing ranks among the top 5 global wearable companies.
 BoAt found flaws in the longevity of mobile charging cables used in the
market. The founders witnessed frequent damage caused to such cables due
to internal and external factors and thought of finding out solutions to such
problems. So they focused on launching indestructible cables. Soon they
launched water and sweat-resistant hearable products.

9
WHAT IS MARKETING?

Marketing refers to any actions a company takes to attract an audience to the

company's product or services through high-quality messaging. Marketing aims
to deliver standalone value for prospects and consumers through content, with
the long-term goal of demonstrating product value, strengthening brand
loyalty, and ultimately increasing sales.

WHAT IS MARKETING STRATEGY?

A marketing strategy refers to a business’s overall game plan for reaching

prospective consumers and turning them into customers of their products or
services. A marketing strategy contains the company’s value proposition, key
brand messaging, data on target customer demographics, and other high-level
elements.

HOW WAS BOAT STARTED?

One of its founders Aman Gupta was familiar with the electronics trade. He
worked for three years (2007-10) in his family business. Before joining the
business, he had completed his Chartered Accountancy and worked in Citibank
between 2003 and 2006.
In 2010, he enrolled for a MBA at the Indian School of Business (ISB) which
led to his placement at KPMG, the auditing firm. He worked there for a brief
period of six months but those were enough to affect him. He was fascinated by
electronics and gadgets and applied at JBL. The company signed him for two
years.

10
Gupta managed the start-up’s offline distribution through stores such as Croma
and Reliance Digital. A little later, he also got into product management. His
job was to identify the right products for the Indian market. His learnings while
working for JBL came in handy during product developments at boAt.

BoAt Lifestyle is a company that has just started to sail in the deep sea of
audio devices market. However, the numbers are promising for them as they
continuously rise amidst all the competition. The company struggled in its
initial two years. Aman and Sameer had started with a capital of around 3
million, coming from the two founders.
In 2018, Kanwaljit Singh of Fireside Ventures invested 60 million in the
company. Singh was impressed with the founders’ ability to white spots, the
product quality, and right targeting.
The company is continuously performing in the market. It has clocked more
than Rs 100 crore in domestic sales alone. From just two founders, the company
is now a 35-member team and has its offices in the top two metro cities-
Mumbai and Delhi.

11
 BOAT - NAME, TAGLINE & LOGO
Tagline of BOAT

PLUG INTO NIRVANA

Nirvana means attainment of complete peace or “moksha practice”. The founders

chose this term to be the tagline as they believe that music connects a person to his
soul thus attaining complete peace and freedom.

12
 BOAT - BUSINESS MODEL & REVENUE MODEL
The company aims to satisfy the needs of users and developing products by closely
observing their requirements. The first-ever product of the company was an
indestructible Apple charging-cable and charger. After the founders sensed its
urgency, the product was developed. boAt company has modified its approach since
the beginning and has till date kept on improvising.

The company believes that BoAt is a lifestyle brand and not a consumer electronics
brand. The company is well-aware of its target audience. It presents stylish and
affordable products that attract the youth. Keeping that in mind, BoAt company has
appointed all the young faces in the industry as its brand ambassadors. These
ambassadors represent India’s most-followed passions (and obsessions) – Bollywood
and cricket.

BoAt lifestyle has a market share of 27.3% in the earwear category & it is the
leading brand in this category.

Moving into its revenue streams, BoAt is now available both online and offline.
They already touched upon its online partners while they serve their offline
customers through the distribution model. It got more than 20 distributors that
supply BoAt’s products to offline retailers

13
THE BIGGEST CHALLENGE FACED WHILE SETTING

BOAT UP WHILE TAKING IT OVERSEAS

Seasonal demand: The demand for boAts tends to be seasonal, with peak demand
during the summer months. This can create challenges for boAt companies in
terms of managing inventory, staffing, and cash flow.

Economic downturns: BoAt sales tend to be discretionary purchases, which means

that during economic downturns, consumers may choose to delay or forgo buying
a boAt. This can create challenges for boAt companies in terms of maintaining
revenue and profitability.

Competition: The boAt industry is highly competitive, with many players vying
for market share. BoAt companies must differentiate themselves from competitors
by offering unique products, superior customer service, and innovative marketing
strategies.

Cost of materials: The cost of materials used to build boAts, such as fiberglass,
wood, and metal, can be volatile and subject to fluctuations in global markets.
BoAt companies must manage their supply chains carefully to minimize the impact
of these fluctuations on their costs and pricing.

Environmental regulations: BoAt companies must comply with a range of

environmental regulations, including those related to emissions, waste disposal,
and water quality. Compliance with these regulations can be costly and time-
consuming, and failure to comply can result in fines and legal liabilities.
14
THE FORMULA OF BOAT SUCCESS
The founders of boAt, Aman Gupta and Sameer Mehta consider that hiring the
correct persons is the primary reason for their company's startling growth and
moreover, it was also the greatest hurdle encountered by them while building
boAt. Now, they have a squad who are vital in bricking their dream project.

BOAT –

STRATEGIES SEO

STRATEGY :-

BOAT has a strong SEO strategy. We have already discussed that BOAT gets
approx 66% of its traffic from searches made online. With their SEO efforts, they
manage to get 99.44% of organic traffic from its search ratio whereas their paid
searches are just 0.56%. This explains why they have a strong SEO strategy.Such
an uprising metrics is because of the SEO strategy of boAt.

SOCIAL MEDIA STRATEGY :-

An app that targets the customers of the 18-35 age group, cannot miss social media
marketing. boAt understands that most of its target groups are active social media
users. So, it focuses on creating social media ads and creates engaging posts to
connect with the audience.

15
TARGETED AUDIENCE :-

Ever since its inception, boAt always targeted the youth who were into fitness. All
their products were manufactured keeping their target audience in mind. The
demand for these indestructible audio products has always been on the rise.

16
 CHAPTER-3
COMPANY PROFILE

17
 CHAPTER 3
COMPANY PROFILE
Overview boAt is a lifestyle brand that creates and sells consumers electronics. Its
product range includes earbuds, headphones, earphones, and wireless speakers with
contemporary designs. The company addresses the audio needs of millennials and
Gen Z.

Type Private

Status Active

Founded 2014

HQ Mumbai, IN | view all locations

Website https://www.boAt-lifestyle.com/

Sectors Retail audio consumer electronics ecommerce lifestyle wearables

18
After the launch, the public loved the products offered by the company’s BoAt,
admiring itsquality right from the beginning.

As per reports, the company’s revenues in 2019-20 were around 500 crore
rupees. The company intends to increase its revenue by 2024.
In 2020, the company was ranked as the fifth most popular wearable brand
worldwide. In addition, it has become the only Indian company to reach this level.
The vessel has raised an estimated $100 million in funding from the Pincus
company. The money will fund research and development facilities and BoAt
manufacturing in India.

The earphones and headphones for boAts are designed entirely in India. According
to news reports, certain boAt products are produced in India. However, BoAt
headphones are manufactured in China, part of the greater Asia Pacific Economic
Cooperation.
The manufacturing process for BoAt headphones is extremely efficient and
straightforward; raw materials are delivered to a factory where they’re assembled,
tested for quality assurance, and shipped. The team behind BoAt headphones work
hard to ensure fast and consistent production so that its customers can easily enjoy
high-quality audio products.
Moreover, Chinese labour standards are among the highest in the world, which
guarantees customers of boAt headphones a product made with the utmost care and
attention. It’s no wonder why BoAt has been able to gain global recognition for its
audio devices through such consistent and reliable production.

19
 ABOUT FOUNDER’S

Fig.-Aman Gupta (left) with Sameer Mehta (right)

 Sameer Mehta is the co-founder and Chief Product Officer (CPO) of

BOAT. He is also the Executive Director of Kores (India). Sameer Mehta
started his career at Redwood Interactive and was the owner of the company.
Mehta completed his schooling at St. Xavier School, Mumbai, and pursued his
bachelor's degree in Commerce from Narsee Monjee College of Commerce
and Economics. Sameer also co-founded Imagine Marketing Pvt. Ltd, the
parent company of BOAT.
 Aman Gupta is the co-founder and the CMO of BOAT. He pursued his
bachelor's degree in Commerce from Delhi University, after which he joined
The Institute of Chartered Accountants of India. Gupta also pursued an MBA
in Finance, and Strategy at the Indian School of Business and also pursued an
MBA in General Management and Marketing as an Exchange student at the
Kellogg School of Management from Northwestern University.
He started working as an Assistant Manager at Citibank and later worked as
the co-founder and CEO of Advanced Telemedia Pvt Ltd. Aman then joined
KPMG as a Senior Management Consultant.

20
 ABOUT PRODUCT

AIRDOPES

Airdopes offer the most incredible listening experience with revolutionary design. Truly
in ear wireless with no cables, no connectors, and no hassles. Designed for comfort and
unstoppable music, always remain on your toes as Airdopes brings to you the dopest
tech there is out there. Powered with BOAT’s Insta Wake n’ Pair™ technology &
ASAP™ Fast Charge, these true wireless earbuds power on and connect instantly right
out of the charging case. No more going into settings to find and pair the device,
welcome to the new era of seamless, instant connection. BOAT Airdopes come with
passive and active noise cancellation technology that cancels out external noise,
delivering only the sound of your media to your ears. No longer will there be any
interference from external sources. Airdopes are designed and perfected for superior
calls and entertainment. These wireless earbuds come with massive drivers that deliver
superior sound, sound that is unmatched and inimitable. Made from fine and premium
materials, these Bluetooth earbuds are made to be comfortable and secure. You can
choose from a variety of silicone tips provided to adjust accordingly and ensure a
supreme and comfortable fit based on how you want your experience to be.

21
 HEADPHONES

BOAT offers a wide range of wireless earphones and bluetooth headphones that
enhances your listening experience. With the rise of wireless technology, the need for
wired headphones is slowly becoming obsolete. Whether you're on the go or working
out, wireless headphones and earphones provide convenience and mobility without
sacrificing sound quality.

You can enjoy your favourite tunes without worrying about tangled cords or heavy
equipment. Additionally, the wireless feature allows you to move around freely without
any restrictions, making them perfect for workouts, outdoor activities, or simply
lounging at home.
The sound quality of wireless earphones and headphones is exceptional, with high-
quality audio drivers and noise-cancellation technology. You can enjoy your favourite
tracks with clarity, depth, and richness. The bass and treble are well-balanced,
delivering an immersive audio experience that will transport you to a different world.
Wireless earphones and headphones come in different shapes and sizes, depending on
your needs and preferences. In-ear earphones are perfect for those who prefer a more
discreet and comfortable fit.
On-ear and over-ear headphones provide a more immersive experience, perfect for
music enthusiasts who want to lose themselves in the sound. Some of our products also
feature voice assistants such as Siri or Google Assistant, allowing you to control your
music or answer calls without having to touch your device.
In conclusion, wireless earphones and headphones are a game-changer in the audio
industry. With their convenience, portability, and exceptional sound quality, they have
become a must-have for anyone who enjoys music on the go. Whether you're a fitness
enthusiast, a music lover, or someone who wants to stay connected, our collection of
Bluetooth headphones and wireless earphones has something for everyone. So why
wait? Shop now and experience the freedom of wireless audio.

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 SMART WATCHES

This best of best smart watches will also help you stay connected at all times with smart
notifications for texts, calls, reminders, and alarms. Enjoy remote music and camera
control from your fitness watch. In the field of wearables, BOAT also came up with the
best smart watches for women — Watch Storm being one of them. It is the perfect
companion for your fitness transformation. Storm smart watch is here to remove all
obstructions that may come on your goal-achieving path. With its daily activity tracker
and nine different sports modes, it will now be fun to track your fitness journey. Why
does it fall under smart watches for women? This fitness smartwatch comes with a
menstrual cycle tracking feature that allows you to stay on top of your periods cycle,
and log in your physical and emotional symptoms. Its battery life of up to 10 days will
keep you alert at all times with smart notifications from your phone and vibration alerts
for calls, texts, schedule reminders, alarms, & more!

BOAT’s smart watch Enigma is a sleek fitness smartwatch loaded with features that
truly makes it the smart watch of our times. It fits the bill for being the best smart
watches for men as it comes with smart gestures which allow you to remotely control
your camera, watch faces, and more! Why is it one of the best smartwatches? Enigma
comes with Find My Phone feature that will call your phone to easily locate your phone
when you don’t remember where you kept it. Its 3 ATM water resistance will keep it
safe from splashes & sweat too, making it top the list of best smart watches for men &
women.

23
 CHAPTER - 4
LITERATURE REVIEW

24
 CHAPTER 4
LITERATURE REVIEW

According to T.S. Chia and H.C. Wong: This research article discusses the
design and development of a Bluetooth headset for use with motorcycle helmets.
The article notes that the headset is similar in design to BoAt earphones and
includes features such as noise-cancelling technology and water resistance. The
article highlights the importance of designing audio products that are specifically
tailored to outdoor and active environments.

According to K.V. Varghese et al: This research article examines the potential
hearing risks associated with the use of personal audio devices, including
earphones. The study found that many medical students were unaware of the risks
associated with high-volume earphone use and recommends that educational
interventions be implemented to increase awareness and promote safe listening
practices.

According to S. Koikeand et al: This research article evaluates the sound quality
and comfort of in-ear headphones, including BoAt earphones. The study found that
the sound quality of BoAt earphones was comparable to more expensive options,
and that users generally found them comfortable to wear.

25
According to by P. Mishra et al: This research article compares consumer
behavior and preferences for BoAt and JBL earphones in India. The study found
that while JBL was more popular overall, BoAt had a loyal customer base who
appreciated the brand's affordability and quality.

According to L.C. Delgado et al: This research article evaluates the sound
quality, reliability, and waterproofness of various waterproof headphones,
including BoAt earphones. The study found that while some waterproof
headphones had issues with sound quality and reliability, BoAt earphones
performed well in all categories and were a good choice for water-based activities.

26
 CHAPTER 5
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.
27
28
 CHAPTER - 6
PROBLEM DEFINITIONS

29
 CHAPTER 6
PROBLEM DEFINITION

A boAt company may face different problems depending on its operations, but a
general problem definition could be: "A boAt company is facing challenges in
operating profitably due to factors such as high overhead costs, limited customer
demand, intense competition, changing market trends, and regulatory compliance
requirements."

To address this problem, the boAt company may need to evaluate its business
strategy, streamline its operations, improve its marketing and sales efforts, expand
its product offerings, and invest in technology and innovation to stay ahead of the
competition. Additionally, the company may need to seek professional advice or
consult with experts in the industry to find solutions to its specific challenges.

30
 CHAPTER - 7
OBJECTIVES OF STUDY

31
 CHAPTER 7
OBJECTIVES OF STUDY

1. TO UNDERSTAND RELATIONSHIP OF BOAT’S CUSTOMER

2. TO ANALYSE EFFECTIVENESS OF BOAT MARKETING CAMPAIGNS

3. TO VALUE CUSTOMERS SATISFACTION OF BOAT

32
 CHAPTER - 8
SCOPE OF STUDY

33
 CHAPTER 8
SCOPE OF STUDY

BoAt Design: The company may conduct research and development to design
new boAts or improve existing ones. This would involve considering factors
such as performance, safety, comfort, and aesthetics.

BoAt Manufacturing: Once the boAt design is finalized, the company would
need to manufacture the boAts. This would involve selecting appropriate
materials, designing production processes, and managing the supply chain.

Sales and Marketing: The boAt company would need to identify potential
customers and develop sales and marketing strategies to reach them. This may
involve advertising, attending trade shows, or partnering with dealers and
distributors.

Customer Support: The company would need to provide ongoing customer

support, including warranty services, technical assistance, and maintenance
support.

Regulatory Compliance: The boAt company would need to comply with

various regulations related to boAt design, manufacturing, and sale, such as
safety standards, environmental regulations, and licensing requirements.

34
 CHAPTER - 9
LIMITATIONS OF STUDY

35
 CHAPTER 9
LIMITATION OF STUDY
Limited data: Depending on the boAt company's size and transparency, there
may be limited publicly available data or information about the company's
operations, financial performance, and customer base.

Seasonal fluctuations: The boAt industry is often seasonal, with demand for
boAts and related products varying throughout the year. This can make it
challenging to gather accurate and representative data and make valid
comparisons between different time periods.

Market volatility: The boAt industry is subject to market volatility, which can
impact sales, prices, and profitability. These fluctuations can make it difficult to
predict future trends and outcomes.

Environmental factors: The performance of a boAt company can be influenced

by various environmental factors, such as weather patterns, natural disasters, and
climate change. These factors can affect the availability of resources, impact
customer demand, and disrupt supply chains.

Regulatory changes: The boAt industry is subject to various regulations and

compliance requirements, which can change over time. These changes can
impact the company's operations, financial performance, and overall strategy.

36
CHAPTER - 10
HYPOTHESIS

37
 CHAPTER 10
HYPOTHESIS
HYPOTHESIS

Hypothesis is usually considered as the principal instrument in research. Its

main function is to suggest new experiments and observations. In fact, many

experiments are carried out with the deliberate objects of testing hypothesis.-

Null Hypothesis (H0):- BoAt do not uses numerous approaches to promote

products.

Alternate Hypothesis (H1):-BoAt uses numerous approaches to promote

products.

HYPOTHESIS TESTING

Null Hypothesis (H0):- BoAt do not uses numerous approaches to promote

products.

Alternate Hypothesis (H1):- BoAt uses numerous approaches to promote

products.

From this study it is significant that number of boAt companies use

multiple approaches to promote their products, therefore we support the
alternative hypothesis (H1) and reject the null hypothesis (H0).

38
 CHAPTER - 11
RESEARCH
METHODOLOGY

39
 CHAPTER 11
RESEARCH METHODOLOGY
Steps or techniques used to identify, select, process, and analyse information
so as to clearly understanding the research problem with the help of data or
information. In this study both primary and secondary data has been used for
carrying out the result.

MODE OF DATA COLLECTION:

There are two types of data:

▶ Primary Data: We have collected primary data through questionnaire.

▶ Secondary Data: Secondary research is also known as desk research. This

type of research relies on pre-existing data sources such as company websites,
articles and market research reports. It is generally carried out at a desk, either
offline (via books, research documents, etc) or online (via websites, pdf
reports, etc).

This study is based on secondary data which collected using different websites
available on the internet.

We also collected data from various websites available on the internet

including the official website of the company and other survey conducting
websites.

40
 CHAPTER - 12
DATA ANALYSIS

&

INTERPRETATION

41
 CHAPTER 12
DATA ANALYSIS &
INTERPRETATION

RESPONDENTS PREFERENCE IN BRAND OF HEADSET

No. of
S.No. Particulars Respondents Percentage
1 Boat 50 63
2 Samsung 20 25
3 LG 5 6
4 Philips 5 6
Total 80 100

Among 80 Respondents
 63% of respondents prefer in Boat headset.
 25% of respondents prefer in Samsung headset.
 6% of respondents prefer in LG headset.
 6% of respondents prefer in Philips headset.

42
 100

90

80

70
63
Percentage

60

50

40

30 25

20
6 6
10

0
BoAt Samsung LG Philips

Particulars

43
 REASON FOR USING THE BOAT PRODUCTS BY
RESPONDENTS

No. of
S. No Particulars Percentage
Respondents
1 Quality 20 40

2 Price 10 20

3 Effect 5 10

4 Sound System 15 30

Total 50 100

Among the 50 Respondents

 40% of the respondents are prefers the product for its Quality.
 20% of the respondents are prefers the product for its Price.
 10% of the respondents are prefers the product for its Effect.
 30% of the respondents are prefers the product for its Sound System.

44
 100

90

80

70

60
Percentage

50
40
40
30
30
20
20
10
10

Quality Price Effect Sound System

Particulars

45
 RESPONDENTS OPINION REGARDING QUALITY OF
BOAT PRODUCTS

S. No Particulars No. of Percentage

Respondents
1 Excellent 30 60
2 Good 15 30

3 Better 5 10
4 Bad 0 0

Total 50 100

Among the 50 Respondents

 60% of respondents say that the Boat Headsets are excellent.
 30% of respondents say that the Boat Headsets are good.
 10% of respondents say that the Boat Headsets are better.

46
 100

90

80

70
Percentage

60
60

50

40
30
30

20
10
10

0
Excellent Good Better

Particulars

47
RESPONDENTS OPINION ABOUT THE PRICE OF BOAT
PRODUCTS

S. No Particulars No. of Percentage

Respondents
1 Moderate 30 60

2 Costly 15 30

3 Low 5 10

Total 50 100

Among the 50 Respondents

 60% of respondents are saying that the price is Moderate.
 30% of respondents are saying that the price is Costly.
 10% of respondents are saying that the price is is Low.


48
 100

90

80

70

60
60
Percentage

50

40

30
30

20
10
10

Moderate Costly Low

Particulars

49
 RESPONDENTS OPINION ABOUT USAGE TIME OF
BOAT PRODUCTS

No. of
S. Particulars Percentage
Responden
No
ts
1 Daily 20 40

2 Only Festival Times 20 40

3 Whenever Required 10 20

4 None 0 0

Total 50 100

Among the 50 Respondents

 40% of respondents are using on daily.
 40% of respondents are using on festival times.
 20% of respondents are using on whenever required.

50
 100

90

80

70

60
Percentage

50
40
40
40

30
20
20

10
0
0
Daily Only Festival Times Whenever Required None

Particulars

51
 THE MARKETING MODE THAT BOAT PREFER

No. of
S. Particulars Percentage
No Responden
ts
1 Offline 8 15.9

2 Online 72 84.1

Total 80 100

Interpretation:

In this study boAt company prefer online mode for their marketing.

52
 THE AGE GROUP THAT PREFER BOAT PRODUCTS

S. NO. Particulars No. of Percentage

Respondents
1 14-20 27 22.4
2 20-30 33 67.3
3 30-40 5 2.3
4 40+ 8 5
5 All 7 3
TOTAL 80 100

Interpretation:

In this study 20-30 age group has given more preference to boAt product..

53
 DO YOU LIKE BOAT PRODUCTS

No. of
S. Particulars Percentage
No Responden
ts
1 Yes 64 88.6

2 No 3 2.3

3 May be 13 9.1

Total 80 100

Interpretation:

In this study 88.6% has like boAt products.

54
 DOES BOAT CUSTOMER CARE PROVIDE GOOD
SERVICE

No. of
S. Particulars Percentage
Responden
No
ts
1 Yes 72 70.5

2 No 1 6.8

3 May be 7 22.7

Total 80 100

Interpretation:

In this study most people think boAt provide good customer service.

55
 CHAPTER 13
SWOT ANALYSIS

Strengths:

 Expertise in boAt manufacturing and design

 High-quality products and services
 Strong brand reputation and recognition
 Experienced and knowledgeable staff
 Strong distribution and sales network
 Ability to customize boAts to meet customer requirements
 Strong financial position

Weaknesses:

 Dependence on specific suppliers for materials

 Limited production capacity
 Limited geographic reach
 Limited product line
 High operating costs
 Dependence on seasonal demand
 Vulnerability to fluctuations in the economy

56
Opportunities:

 Expansion into new markets

 Introduction of new product lines
 Strategic partnerships and alliances
 Diversification into related industries
 Developing eco-friendly and sustainable products
 Capitalizing on the trend towards outdoor recreation and leisure activities
 Investment in research and development

Threats:

 Intense competition from other boAt manufacturers

 Increasing regulatory requirements and environmental regulations
 Fluctuations in raw material prices
 Economic downturns and uncertainty
 Technological advancements that disrupt the industry
 Unpredictable weather patterns and natural disasters
 Changes in consumer preferences and buying behaviours.

57
 CHAPTER 14
MARKETING MIX

1. Product

BoAt focuses on product innovation and customization based on trends. They

offer a wide range of audio products that are designed to cater to the preferences
of their target audience. Additionally, they have collaborated with popular brands
like Marvel to introduce limited edition products featuring Marvel characters,
which adds uniqueness and appeal to their offerings.

2. Price
BoAt strategically determines the pricing of its products, considering its target
audience. They recognize that their main customer base consists of college
students who may have limited budgets. Hence, they aim to provide affordable
options without compromising on quality, making their products accessible to
their target market.

58
3. Place

BoAt products are available both online and offline. They have a strong online
presence through their official website as well as major e-commerce platforms like
Amazon and Flipkart. Furthermore, they have established partnerships with
various offline retail stores, including electronics retailers and smartphone outlets,
to expand their distribution network and ensure the widespread availability of their
products.

4. Promotion

BoAt heavily relies on promotion through influencer marketing. They collaborate

with popular celebrities from different domains, including actors and actresses
(Kartik Aaryan, Kiara Advani, Jacqueline Fernandez), cricketers (Shikhar
Dhawan, Jasprit Bumrah, Rishabh Pant, Hardik Pandya and Prithvi Shaw), singers
(Neha Kakkar, Guru Randhawa, AP Dhillon, Diljit Dosanjh and Harry Sandhu),
and content creators (Prajakta Koli, Harsh Beniwal, and Bhuvan Bam). These
influencers endorse boAt products through various marketing campaigns and
social media posts, which helps create brand awareness and attract customers.
They also utilize social media platforms and employ hashtag marketing to engage
with their audience, using unique hashtags such as hashtag#whatfloatsyourboat
hashtag#boatheads hashtag#trebelwithboat hashtag#levelupwithboat
hashtag#raisethebar

By effectively utilizing the 4Ps of marketing, boAt has positioned itself as a

leading brand in the audio product industry. Their emphasis on product
innovation, affordable pricing, widespread availability, and influencer-driven
promotion has contributed to their rapid growth and success.

59
 CHAPTER 15
Porter's 5 forces Analysis

Porter’s Five Forces is a classic model that organizations use to assess their
competitive environment and make informed decisions. this framework offers
organizations a systematic approach to assessing their competitive environment
and making strategic decisions that can influence their long-term success.

Competition Rivalry:
BoAt's main competitor in the speakers and other accessories market is JBL,
which has the largest share of the Indian market. BoAt and JBL's competition is
fought with supply chains, data, business analytics, and an internet front.

Potential for new companies to join the market: BoAt is a pretty new company, so
there is a lot of room for new companies to join the market. Even though BoAt
just came out, companies like MiVi, Noise, etc. are already taking its market
share. After BoAt came along, these companies started to get a bigger share of the
Indian market, but they still have a big piece of it.

Power of Suppliers:
BoAt has been able to fight against the power of suppliers. Most of the BoAt
suppliers, people say, are from China. We all know that China brags about making
things at low cost. So, we can say that BoAt's products come at a low price.

60
Power of Customers:

BoAt still can't stand up to customer pressure, which could hurt their ability to
make money. Still, compared to competitors like JBL, BoAt's price is very low.
BoAt has improved its supply chain so that its products are available in most
places, whether they are in the country or in the city. This gives customers even
more options.

Threat from Similar Products:

Price match is another thing that BoAt has done to make customers choose them.
JBL is a good alternative to BoAt, but BoAt is still growing in the Indian market
even though other brands are showing up.

Ultra-premium (costs ₹15k+) Apple, Bose

Premium (costs ₹10-15k) JBL

Sub-Premium (costs ₹5-10k) Sennheiser
Economy/Affordable (costs BoAt, Mivi
₹1-5k)
Cheap (costs ₹50-500) Mostly Imported from China
and Vietnam

61
 CHAPTER 16
FINANCIAL ANALYSIS OF BOAT
INTRODUCTION:
Financial statements are formal records of financial activities and position of a
business, person or other entity. These statements include standard reports like
balance sheet, profit and loss statement, and cash flow statement. They stand as
one of the most essential components of business information, and as the principal
method of communicating financial information about an entity to outside parties.
In a technical sense, financial statements are a summation of the financial position
of an entity at a given point of time. Generally, financial statements are designed
to meet the needs of many diverse users, particularly present and potential owners
and creditors.
Statement of Problem
The profit over the years has been fluctuating. This study helps in analysing the
reasons for such fluctuations. This study also helps in analysing the strength and
weakness of BOAT lifestyle.
Objectives of study
• To examine and understand the liquidity and solvency position of the
company.
• To know the profitability position of the company
• To predict the future prospect of the company, past performance of the
company is analysed

Tools for analysis

• Ratio analysis
• Comparative balance sheet

Review of literature
Dharma raj, A.and Kathirvel N. (2016) explored an overview of new industrial
policy act 1991, which allow 100 percent foreign direct investment. An attempt is
made to find out the effect of FDI on financial performance of automobile
industry. It is concluded that the liquidity ratios show minor changes and
profitability shows an increasing trend during post FDI when compared to pre
FDI. Post FDI efficiency ratio shows that companies are efficiently utilizing the
available resources.
62
Dewar Varun (2016) Study to analyse the effect of various fundamental corporate
policy variables like dividend, debit, capital expenditure on stock prices of
automobile companies of India. The study tends that dividend & investment policy

are relevant and capital structure irrelevant to stock prices.

Company highlight
Name : BOAT Lifestyle Legal name: imagine marketing Headquarters: New
Delhi, India Sector: Consumer Electronics
Founders: Sameer Mehta, Aman Gupta Founded 2016 Total Funding Raised: $177
million (October 2022) Revenue : $362.6 million (INR 3,000 crore, FY22)
Valuation: $266.8 million (INR 2,200 crore, April 2021)
Website : BOAT-lifestyle.com

Current ratio:

Year Current Current Ratio

Asset Liability
2019 80,16 46,12 1.74:1
2020 175.29 101.19 1.73:1
2021 655.26 206.35 3.18:1
2022 15,940.48 12,539.87 1.27:1

INTERPRETATION
The trend in the current ratio over the four-year period suggests that the
company had a stable liquidity position until 2021 when it significantly
improved. However, the ratio declined in 2022, highlighting the need for close
monitoring of the company's financial position and management of its cash
flow and working capital.

63
Quick Ratio

Year Quick asset Current Ratio

liability
2019 41,35 46,12 0.90:1
2020 94.5 101.19 0.93:1
2021 323.24 206.35 1.56:1
2022 10485 12539.87 0.84:1

INTERPRETATION:
The quick asset represents the liquid assets that can be easily converted
into cash, while the current liability represents the company's short-term
financial obligations that are due within one year. The quick ratio is a
measure of a company's ability to pay off its current liabilities using its
quick assets. A higher ratio typically indicates better liquidity and financial
stability.

64
 1.5

0.5

2019 2020 2021 2022

Net profit ratio

Year Net Ne Ratio

pro t
fit sal
es
2019 8.73 239.44 3.64
2020 49.52 700.4 7.07
2021 77.93 1511.69 5.15
2022 68.7 2873.63 2.39

INTERPRETATION:
The ratio of net profit to net sales (or profit margin) improved
significantly from 2019 to 2020, but declined in 2021 and 2022,
indicating that the company may be experiencing higher costs or
lower margins on its products or services in those years. Overall, the
company appears to be growing and generating more profit, but it
will be important to monitor trends in net sales and profitability in
the coming years to ensure continued success.

65
 Comparative balance

Particulars 2021 2022 Absol Percent

ute age
amou chang
nts e
Assets
1. Non- 655.26 2,801.5 1426.27 217.66
current 3
assets
2. Current 23.17 15,940. 15917.31 68697.9
assets 48
Total Assets 678.43 18,742. 18063.58 2662.5
01
Equity
and
Liabiliti
es
1. Total Equity 464.1 7 6,101.5 5637.33 1214.4
0
2. Non- 7.91 100.64 92.73 1172.31
current
liabilitie
s
3. Current 206.35 12,539. 12333.52 5976.9
liabilities 87
Total Equity 678.43 18,742. 106.57 2662.5
and 01
Liabilities

66
INTERPRETATION:
Overall, the company experienced significant growth in both assets and
liabilities between 2021 and 2022. Non- current assets and current assets
increased substantially, while current liabilities increased significantly
more than non-current liabilities. Total equity increased substantially as
well, but not as much as the company's liabilities.

Findings of financial analysis

• The trend in the current ratio over the four-year period suggests that the
company had a stable liquidity position until 2021 when it significantly
improved

• The quick ratio is a measure of a company's ability to pay off its current
liabilities using its quick assets. A higher ratio typically indicates better
liquidity and financial stability

• The ratio represents the proportion of liquid assets to current liabilities

and helps determine a company's ability to pay off its short-term debts,

• This suggests that while the company's total assets continued to grow
significantly, their net sales did not keep pace with the increase in assets.

• This might be an area of concern for potential investors as it indicates a

decreasing efficiency in generating revenue from the company's assets.

67
 Suggestions on financial analysis

• The company has to decrease its current liabilities to improve their liquidity
ratio and liquidity position.

• The company can focus on increasing its gross profit margin by either
increasing its revenues or decreasing its cost of goods sold.

• The company can also focus on reducing its operating expenses to increase its
net profit margin.

• The company can improve its liquidity by increasing its current assets or
reducing its current liabilities.

• This can be done by managing its inventory more effectively, collecting

receivables on time, and negotiating better payment terms with its suppliers.

• The company can manage its debt effectively by reducing its debt-to-equity
ratio.

68
 CHAPTER 17
How boAts Marketing Strategy Captured
the Indian Market?
A boat company from India has captured the attention of millions of Indians with
its affordable boat accessories. How did they manage to gain such popularity?
What marketing strategies did they use?

In order to achieve its growth targets, a brand must work hard for several years.
However, a strong marketing strategy will make the brand reach its target and
succeed on the market. In this article, we are talking about BoAt Nirvana is India
based consumer electronics device brand.

Today BoAt became the biggest market brand in consumer electronics in India.
The boat is the brand which comes to mind if you’re looking for an affordable, lux
earphone device. Also, consumers are so fond of the brand that in just the fourth
year of the brand, it built a community of 800,000 customers, which is still
growing.

This company has managed to build a strong brand image over the years. In
addition to the affordability factor, they also offer excellent service to their
customers. This is why they are known to be the preferred choice in India.

In FY2020 The boAt crossed 500 crores in revenue. Their outstanding

performance is because of BoAt’s strong marketing strategy. Let’s see how
BoAt’s marketing strategy captured the Indian market.

BoAt – You are now plugged into Nirvana

BoAt is a startup founded by entrepreneurs Sameer Mehta and Aman Gupta.

Sameer Mehta owns Redwood Interactive, which has computer gaming
peripherals under the brand RedGeara and Aman Gupta, the CMO (Chief
Marketing Officer) was also fascinated by electronics and gadgets and has also
worked at JBL (“James
B. Lansing Sound” )for two years. Sameer completed his MBA (Masters in
Business) degree from the Indian School of Business (ISB).
69
BoAt started its journey from a cable manufacturer and has now leveraged its
brand into also selling men’s grooming products. boAt has a huge range of
electronic product categories which includes Bluetooth speakers, wireless
earphones, headsets, smartwatches, mobile accessories, home audio devices, and
many more.

BoAt is creating a strong position in the market from being a homegrown product
established in 2016 today it has become a well-known brand in the Indian market.
It is globally the fifth largest electronic wearable brand.

The Marketing Strategy of Boat-

BoAt is experiencing huge demand and is popular for its products in recent years.
Now let’s understand what strategies Boat is using for its growth and success in
the Indian market.

Before the brand revolutionised itself, earphones, headsets and headphones were
the only complementary items that came with mobile phones.

The boAt is experiencing a huge demand for its products in recent years. Let us
understand what marketing strategies BoAt adopts for its tremendous growth.

1) Selling electronic products like accessories –

Before 2014 BoAt was selling charger cables, earphones and headphones were
sold in the Indian market as electronic products. Soon BoAt realized design
elements started getting attention from customers. But what Boat thought of doing
business beyond design. It sells its earphones, and earbuds like a fashion
accessory.

2) Premium quality at an affordable price -

Premium quality product earphones and headphones at an affordable price. One of

its marketing strategies, Boat forced its competitor rivals like JBL, and Sony to cut
their prices.

70
One of the reasons for BoAt’s colossal success is its product’s durability and
decent pricing incline customers towards the brand. Also, the quality that BoAt
offers in its audio products is expected from some premium quality brands only.

3) Celebrity & Influencer marketing –

It takes several years for a brand to get endorsements from popular celebrities and
personalities but in the case of boAt the brand is doing great, then it is just a matter
of a few years. BoAt has a huge list of brand ambassadors.

The boAt started selling its electronic products as a fashion accessory and
partnering with people from the fashion industry. boAt collaborated with celebrity
Designer Masaba Gupta to launch a limited-edition collection of spunky
headphones at the Lakmé Fashion Week in 2020.

Together, they have launched a line of products to cater to a huge audience,

bringing back the disco style of the 70s.

For cricket fans, BoAt collaborates with cricketers like Shikhar Dhawan, Hardik
Pandeya, and KL Rahul and with actors like Jacqueline Fernandez, Kiara
Advani, Kartik Aryan, and as well as content creators like Prajakta Koli, Harsh
Beniwal, and Bhuvan Bam are on board to promote the products of boAt.

When a brand is related to music accessories, then it ought to have ambassadors

from the music industry. The two biggest Musicians like Harry Sandhu, Neha
Kakkar and Diljit Dosanjhare are also Boat’s brand ambassadors.

4) Innovations –

One should learn from how BoAt creates innovative product types in different
ways. The marketing strategy of BoAt also involves continuous innovation, and
creativity of products in its different product ranges.

BoAt keeps introducing new products in the market at affordable prices with an
innovative variety of designs and keeps getting attention from its customers.

BoAt offers various earphones and headsets, be they wireless, Bluetooth,

Airdopes, earbuds and many more. Its product range includes all the innovative
varieties which also attract young youth.
71
5) Customer connect -

BoAt knows how to connect with its customer’s good affordable price is not
enough when it comes to selling a brand product. It also creates a good
relationship with its customers.

The boAt has given a name to its loyal customer community as boAT Heads.

Customers are important in any marketing strategy, and the marketing strategy of
boat values its customers and its boAT heads the community to create new
products and that’s how it has increased its customer base from 0.8 million in
2018 to 2 million by 2020.

6) Digital Marketing -

Digital marketing is a big strategy in the marketing strategy of the company. Here
are some digital marketing lists by boAt:

a) Mobile Marketing
Using this multichannel online marketing technique boAt reaches out to its
customers through its mobile application and SMS marketing.

b) Email marketing
boAt sends personalized messages to its existing and potential customers who
agree to share their email to receive updates from the brand. They send quirky,
catchy, and crisp emails which get an audience. Whether it is updating the
audience about a new product, offers and discounts, sales or communicating their
message.

c) Social media marketing

boAt has a presence on Instagram, Facebook, Twitter, YouTube, and LinkedIn
brand creates:

Unique hashtags:-

72
-#whatfloatsyourboat

-#boatheads

-#trebelwithboat

-#levelupwithboat

-#raisethebar Instagram stories:-

Brand illustrations have been made and shared on Instagram stories, and Instagram
videos and get the attention of comic lovers and the gen-z audience the most and
are getting a niche audience of their own to integrate the product with the culture
and lives of skaters, street artists, and more.

Youtube video

Kiana Advani, Bani J, Raja Kumari and other strong women out there with an
upbeat music video with the title “I am a rebel” song. The range of TRebel has a
direct link to the marketing campaign. Digital marketing help boAt to reach a
massive audience at the right time.

7. Event Marketing –

Boat also adopts an event marketing strategy where it is promoting its brand at
various live events. Event marketing is a great way of promoting a brand to a large
audience, and even you can directly interact with them. Do collaboration with the
most famous events to showcase its brand.

a. boat x IPL-
boAt announced their official partnership with six IPL teams this season in 2022 –
Chennai Super Kings, Royal Challengers Bangalore, Kings XI Punjab, Kolkata
Knight Riders, Delhi Capitals, and Mumbai Indians.

boAt also launched limited-edition earphones, headphones, and speakers inspired

by the insignia and design theme of the teams, to truly bring the stadium home for
cricket fans.

73
b. boat x Sunburn -
When the product is about music brand music events? Sunburn is Asia’s largest
music festival, and BoAt sponsors this event as well. The boat will be running a
360-degree marketing campaign for fans and musicophiles giving them a chance
to attend all the Sunburn and Bollyboom concerts pan-India in 2019-2020.

c. boat x LFW -
Boat is a part of the fashion event, which is Lakme fashion week. In the fashion
event, the brand is promoting its product as a fashion accessory. The models walk
the ramp wearing the Boat’s products on the ramp.

d. Republic day (boAt Made in India)-

boAt grab a perfect moment to announce the launch of the following products
which are Bassheads 100, Bassheads 152 and Rockerz 255 Pro starting from 27th
January 2021. To fulfil the vision of ‘make in India’ and manufacture other mobile
accessories in India, focusing on Atma Nirbhar Bharat’s mission.

e. Two-way communication marketing -

BoAt Sunburn Collaboration ( Sunburn festival in Goa – 2019). BoAt gives an
experience to the people that they can’t forget through concerts. Engaging the
audiences in two-way communication marketing, the most common elements in
all these partnerships, concerts and tours were photo booths and nirvana zones for
the audience to be encouraged to participate.

The boAt shared the stories of its audiences on its official page on Instagram,
making an emotional connection and building a loyal fan base for the brand.
Through this, they generated buzz and gained media coverage.

8. Community-based marketing (#Amboathead) –

Engaging the community on social media platforms like Instagram, Twitter and
youtube by sharing the pictures clicked by them for their boAt products on their
Instagram stories is a great way of building a good of the community; it also has
its own hashtag, #Amboathead.

They also have giveaways for their products and contests to keep the relationship
with an audience. The hashtag #IAmboAthead has more than 500 posts on
Instagram. The boAt is surely building its own tribe.

74
CHAPTER - 18
FINDINGS

75
 CHAPTER 18
FINDING'S
 Market Size: The global boAt industry is valued at around $30 billion,

with the US and Europe being the largest markets.

 BoAt Types: There are various types of boAts, including recreational

boAts, fishing boAts, sailboAts, yachts, and commercial boAts.

 Industry Trends: The boAt industry is experiencing growth due to

increased consumer interest in outdoor recreational activities, rising

disposable incomes, and an aging boAting population. There is also a trend

towards eco-friendly boAts and electric propulsion systems.

 Competitors: The boAt industry is highly competitive, with many

established players and new entrants. Some of the major players in the

industry include Brunswick Corporation, Groupe Beneteau, and Yamaha

Motor Co.

 Challenges: The boAt industry faces various challenges, including

fluctuating fuel prices, regulatory compliance, and changing consumer

preferences. The COVID-19 pandemic has also had an impact on the

industry, causing disruptions to manufacturing and supply chains.

76
CHAPTER - 19
SUGGESTIONS

77
 CHAPTER 19
SUGGESTIONS
 Boat has to focus on the bass quality of their earphones and speakers.

 They have to work more on the connectivity and Bluetooth version of their
products.

 They can also have a look on their product prices according to their
competitors.

 Boat lifestyle can shift their manufacturing unit to India from

China as to make the products fully Indian.

 Company has increased their product durability as the not very

durable as compare to other brands.

 The company should give more offer and discount to increase sales.

 Strategic planning - pre acquisition, and post acquisition implementation or

executions of the strategies is equally vital for the success of any merger and
acquisition decision.

78
CHAPTER - 20
CONCLUSION

79
 CHAPTER 20
CONCLUSION
The BoAt brand is a well-known and popular audio company that specializes in
affordable and high-quality earphones. BoAt earphones are designed to be
durable and water-resistant, making them a good choice for use in outdoor and
water-based environments. There is a significant relationship of boAts customer.
BoAt offers a range of earphone models to suit different needs and preferences,
including wired and wireless options, noise-cancelling technology, and deep bass.
There is a significant effectiveness of boAt marketing campaign. BoAt earphones
have received positive reviews from many consumers for their sound quality,
comfortable fit, and value for money. While there are some concerns about the
reliability of BoAt's customer service and warranty policies, overall, the company
has a strong reputation and has been successful in the Indian market.

The study provides insight about the various dimensions associate with customer
satisfaction. Customer prefers boat because of quality and the message to
promote new technology and unique item for comfort of young generation. It can
be very effective way of promotion and this leads to attract huge customers and to
capture large market. On the basis of findings of the study it can be concluded
that boat products have gained customers satisfaction due to their market strategy,
quality and variety of products.

80
 CHAPTER - 21
BIBLIOGRAPHY

81
 CHAPTER 21
BIBLIOGRAPHY
References:-
 PHILIP KOTLER, GARY ARMSTRONG, PRAFULLA Y. AGNIHOTRI,
ESHAN UL Haque 2022. A South Asian Perspective, 16th Edition.

 Research and Markets. (2021, Jan). India Headset Market (2021-2027): Market
Forecast by Technology, by Type, by Microphone Type, by Distribution Channel,
by Region, and CompetitiveLandscape

 Mishra, S. (2020, May 10). boAt Lifestyle – A Brand That Helps Plug Into
Nirvana.

 Ken Research. (2019, July 11). India Audio Accessories Market Outlook To 2023

 Gartner. (2021, April). The Rise of E-Commerce in India.

 Fintrackr. (2021, Feb). boAt’s income crossed Rs 704 cr in FY20 with 460%
growth in profits.

LINKS: -
 https://en.wikipedia.org/wiki/BoAt
 https://www.boAt-lifestyle.com/
 https://support.boAt-lifestyle.com/
 https://warranty.boAt-lifestyle.com/service-center
 https://fieldserviceconnect.wbresearch.com/venue
 https://www.businesstoday.in/latest/corporate/story/d2c-unicorn-boAt-calls-off-
ipo-raises-rs-500-crore-via- preference-shares-351073-2022-10-28

82

CHAPTER 22
ANNEXURE

Q.1) Which marketing mode does boAt prefer?

o Online
o Offline

Q.2) Which age group prefer boAt products?

o 14-20
o 20-30
o 30-40
o 40+
o All

Q.3) Do you like boAt products?

o Yes
o No
o Maybe

Q.4) Do you think that boAt customer care provide good service?
o Yes
o No
o Maybe

83
Q.5) Which Company do you prefer?
o Boat
o Samsung
o LG
o Philips
o Others

Q.6) Why do you prefer the Boat ?

o Quality
o Price
o Effect
o Sound System

Q.7) Which media attract you to know about the Boat?

o Television
o Neighbour
o Newspaper
o Online

Q.8) What is your Opinion about the Price of Boat?

o Moderate
o Costly
o Low

84