This article is a case study of the company BOAT. It tells how it has become a multi million company and what it do to achieve this. It also tells what should we learn from it.
The company BOAT was established in the year 2016. The co-founders of this company are Aman Gupta (one of the sharks of shark tank India) and Sameer Mehta. In the year 2021 it had a turn over of 1500 crore and its profits increased by 61%. It had a 36% share in the wireless stereo market in India.
How it stand out ll EarPods ll Headphones
When in the year 2016 I-pods were launched everyone started to buy them. In that year JIO net was also launched which was cheaper so people now get more interested in listening to the music and thus, buying EarPods. The BOAT company made and sell their earphones at the affordable prices which has helped them a lot to boost their sales.
The EarPods if BOAT company was different from others as it has a unique design, colour and packaging which was giving it a premium look. Hardik Pandey was the first person to advertise this company. Then many celebrities did advertisement of their headphones and EarPods like; Kiara Advani and Kartik Aaryan. They all showed how cool they look in the unique designs of BOAT accessories. Many big companies even started to collab with them. They are playing with the prices and making them most affordable plus branded. Now they are planning to enter in the other segments like, going in the premium market.
Business Lesson
If you see any segment is empty in a market, it is the best opportunity for you. Enter in a filed where there is less competition. Marketing is very important in any business if you want to reach your sales you have to increase your marketing.
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