What concept underpinned boAt?

“Everyone starts with nothing, so did I.”- Aman Gupta

For practically everything, there is a vast market in India. However, a short check reveals a lot of noise that makes it difficult for businesses to take a position. Rare are the brands that have successfully built an empire via market research and execution. Every year, there are a lot of start-ups that grow like mushrooms in your knowledge, but the percentage of those that become unicorns is very small.

So, in this newsletter, we'll tell you about a business that succeeded not via wild speculation and rash decisions, but rather by careful market research?and impeccable timing. We're referring to an audio equipment company that ventured into a market that was controlled by major brands like Bose Corporation , Sennheiser , JBL Professional , and Skullcandy Inc. Candy. Despite this, it was nevertheless able to seize the bulk of the audience and carve out a place for itself. We're referring to boAt, the business that Aman Gupta and Sameer Mehta created. There have been terrific companies in the market that offered a wide variety of things, but the issue with them was that they were either incredibly costly or had a terrible aesthetic. The boAt lifestyle started the change in this area.

Bring on the success story!

The year 2016 was really intriguing. Yes, boAt Lifestyle was established in 2016, but it is not the topic at hand. We're referring to the advantageous time used by boAt. But no single occurrence started this snowball effect. They were numerous. Let's continue with it.

Initial of all, 苹果 released the first iteration of AirPods in 2016. The first thing we can learn from this case study is that Apple is a marketing powerhouse (even when they don't have anything new to offer, but this time they did!). Thus, it should come as no surprise that TWS earbuds became the craze in the world of technology. Everyone needed a pair of AirPods as demand soared like SpaceX rockets.

Second, when Jio joined the telecom industry in 2016, India saw a digital boom thanks to the internet. When Jio started offering internet at incredibly low prices, mass panic started. As a result, Indian viewers watched more multimedia content overall. As a result, users were more likely to search for high-quality headphones to assist them consume their material.

Third, cell phone makers began excluding headphones from new packaging in an effort to purportedly reduce their carbon imprint on the planet. Customers started seeking alternatives as a result. Furthermore, if someone is going to spend money on earbuds, they would undoubtedly go with the most recent TWS models. However, cost is the top necessity for Indian customers.

As a result, a swadeshi, funky, millennial-targeted brand with excellent marketing was launched into a market where there was already a tremendous demand for TWS earbuds. Yes, you are correct. It was BoAt.

Motive for the Success

People in India could spend a lot on cell phones, but they don't want to overspend on earbuds. Because a smartphone clearly provides them with more value. And to be honest, unless one is a music enthusiast, it's challenging to distinguish the subtle variations between expensive premium earphones and less expensive sub-premium earbuds. Indian customers would always lean for inexpensive sub-premium earbuds given the option. Because of this, boAt priced its items at the range that 90% of Indian consumers prefer: reasonable and inexpensive.

But there are so many players out there in the affordable earphones market. How did boAt manage to hold 35.8% market shares?

Top Fam endorses

In their inaugural campaign advertisements in 2018, boAt featured Hardik Pandya. This increased the brand's aspirational worth. BoAt continued to use its effective celebrity recipe after that. After Hardik Pandya, they attracted a large number of other stars, including actors Kiara Advani and Kartik Aaryan, singers Guru Randhawa, Diljit Dosanjh, and Neha Kakkar.

And in this way, boAt rose to the top of the inexpensive range. It's likely one of India's most successful and quickly growing start-ups.

If Aman Gupta entered the TWS earphone market in 2016 and did so successfully, you may do the same if it's in your interest. Who knows, you may succeed more than boAt if you have the necessary skills and knowledge in your field of interest!

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