boAt used this marketing tactic to become the 5th largest wearable brand in the world

boAt used this marketing tactic to become the 5th largest wearable brand in the world after Apple, Xiaomi, Huawei, Samsung in just 6 years:

Product Positioning.

Here's what it is and how this startup used it

Every company uses product positioning to stand out in the market. So first, let's understand what product positioning is?

Product positioning is a process that enables you to define where your product fits in the marketplace and how it's the best available solution for your customer.

Effective positioning is very important because it helps a company to create a strong position among its competitors, by making people perceive their products as better than the rest.

An effective positioning strategy has to let the customers know about what you and your product do.That’s what all the start-ups are trying to do. They’re coming up with different ways to effectively communicate about their products and trying to grab their customers’ attention early.

Let’s try to understand more about it with an example. BOAT- the most renowned name in the wearable industry- is a company that positioned itself in the market with utmost delicacy.

The company led by Aman Gupta and Sameer Mehta identified a gap in the music industry.There was a lot of electronic audible product co.s, fighting to capture the Indian market, but no one was winning.

There were two main reasons- high price and wrong target market.

So the company decided to position itself where it saw the most potential (neglected by the rest) and designed the product, business & market strategies targeting its prime audience.

Do you know who their target audience is? “Cash-strapped, tech-savvy millennials”.The youth is ever-increasing and so does the market for wearables.

So the demand was there, all they needed to do was to come up with a product and place it right in the middle of the market.And they successfully did that. They produced electronic items, not like any other international brand. They produced them with the latest designs and made them fashionable. Who could’ve imagined an audio product as an accessory?

That’s not all.The company portrayed itself as a lifestyle brand rather than a consumer electronic brand. That was visible when they collaborated with celebrity designer Masaba Gupta and launched bold headphones at the Lakme Fashion Week 2020.

That’s not it.They also made their products durable in terms of dust and heat.So they produced premium quality earphones and headphones but at an affordable price, unlike its competitors.

Decent pricing helped the company to capture the market with different income groups with their products. That provided an edge to BOAT over its competitors.

Now let’s talk about some of their marketing tactics which were carefully designed to target the youth.They used social media, influencer marketing and celebrity endorsement to market their products.

Some follow cricket, and others follow music because of their varied interest, so they signed cricketers as well as Bollywood celebrities - Virat Kohli & Shikhar Dhawan to Neha Kakkar & Kiara Advani.

The story doesn’t end here. They also adopted an event marketing strategy to promote their brand and put it in the limelight. They partnered up with 6 IPL teams and launched limited edition products.

They also sponsored Sunburn which is Asia’s largest music festival to promote their brand.And we’ve already discussed the Lakme Fashion Week.

So overall we can say that BOAT recognized the importance of positioning in the market, and successfully positioned itself in the hearts of Indian youth.