`boAt` Lifestyle- Can it Sail in Choppy Waters?
| Case Code: MKTG446
Case Length: 8 Pages
Pub Date: 2023
Teaching Note: Available
| Price: Rs.200
Organization : Imagine Marketing Limited (boAt)
Industry :Electrical & Electronics
Countries : India
Themes: Marketing Strategy, Brand Strategy, Product Strategy & Design,Branding Strategy
boAt, an Indians lifestyle brand that made fashionable audio products and wearables, was launched in 2016 and grew rapidly to become the top wearable company in India by market share in the first quarter of 2022. The startup also occupied the fifth position in the world in the wearables segment by market share and shipments in Q1 2022. The case details the founding of boAt and its marketing strategy of bringing forth innovative products into the market while at the same time creating a niche market targeted at millennials and the younger generation.
In addition to identifying a gap in the audio market segment and focusing on quality and affordability, boAt concentrated on innovation and product positioning. Celebrity endorsements and online marketing were the other initiatives that the company took to capture the market. boAt was poised to expand its presence in the global market in the future with product diversification and partnerships with smartphone manufacturers for the sales of its audio products. Will boAt be able to retain its leadership position in the Indian market and become the top player in the global market in the audio and wearables segment? That remains to be seen.
The case is structured to achieve the following teaching objectives:
- Understand the concept of product positioning.
- Understand the importance of product innovation for market penetration.
- Evaluate the global expansion strategies of companies.
Product innovation; product positioning; global expansion strategies; International marketing; marketing strategy; brand strategy
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