B_2_Project PPT for brand management.pdf

startup mindset detailed for brand management ppt

1. Iconic
Group 2-
Nirali Oswal 2021MBA010
Khushi Sinha 2021MBA016
Anuja Gundecha 2021MBA002
Aayush Mehta 2021MBA039
Theres Megha Franklin2021MBA008
Nainsy Awasthi 2021MBA004
Aswin Boban 2021MBA038
Priti Kheria 2021MBA020

2. ●boAt, formal known as "Imagine Marketing Services Pvt. Ltd.," was founded in
November 2013
●It manufactures and offers a variety of audio focussed consumer electronics, such as
wireless earbuds, wired headphones, wireless speakers, home audio gear, smart
watches, and an assortment of cell phone add-ons
●To promote its products, boAt uses a combination of influencer marketing, brand
partnerships with sports teams, and public events
●Currently it’s smartwatches offers features like multiple Watch Faces, Stress Monitor,
Heart & SpO2 Monitoring, 14 Sports Modes, Sleep Monitor, 5 ATM & 7 Days Battery



About boAt

3. Features that can be added (in addition to an average fitness band):


1. Video streaming (For watching online videos on the Fitness band)
2. Radio (For listening to radio)
3. Temperature sensor (Sensing body and room temperature)
4. Inbuilt Camera (For clicking pictures)
5. Inbuilt Calculator (For basic calculations)
6. Emergency alarms/SOS feature (Alerts for assault, trespassing, SOS calls)

Ideas Generation: Stage 1

4. Ideas Screening: Gate I
Idea Comments
Video streaming -Inconvenience due to small screen
-Excessive battery drain and heating of device
Radio -Reducing number of radio listeners
-Requires headphone jack, resulting in heavier device
Temperature sensor -Sensing body/room temperature on one tap
-Ideal add on for fitness bands
Inbuilt Camera -Small device, camera will require space
-Inconvenience in clicking pictures, only selfies can be taken
Inbuilt Calculator -Quick access to calculator for simple calculations
-Calculator is not the most desirable app for watch
Emergency alarms/SOS feature -Alerts on the band in case of trespassing, fire
-Alerts in case of emergency calls from family members/friends

5. ●boAt contribution in wearables is rising
from 2020 worldwide
●According to Statista, the fitness
band market is about to grow in
coming years

Scope: Stage 2

6. Idea Screening: Gate 2
4000000Reported no. of wearables sold in India 2021
1040000From this, 26% is market share of boAt
104000Considering 1% would buy the band
104000 * 800 = 83200000 Revenue with expected unit sale
Unit CostGPS Module + Microcontroller - 220
Hard casing - 10
Strap - 40
Battery and charger - 130
Total Hardware cost = 400 Rs

7. Building Business Case: Stage 3
Women in the age range 18-24 at the highest risk → they are tech friendly and welcoming
to experiment with technology
Information of nearest police station is rarely known and redirecting takes time, plus any
obvious attempt to seek help might alert the assaulter/ kidnapper
1
2
3
The economical segment does not have a fitness band brand positioned, boAt has made
up its market in audio segment by targeting these gaps
●Build on network effect, GOI initiatives and reducing crime rates
●The brand mantra for boAt- Affordable, durable and ultra-fashionable products to groove to
also resonates with this product
●For future expansion we can either expand in the feminine side (if SOS becomes the USP) or in
different user segments like kids, teenagers (if band itself becomes USP)

8. Competitor Analysis
Price Popularity Features Differentiating factor
Noise ₹1,799 51% 5-star
21% 4-star
Sleep Tracker, Steps & Calorie Tracker, SPO2
Monitor
Premium look
Xiaomi ₹799 62% 5-star
25% 4-star
Heartbeat Tracker, Sleep Tracker, Pedometer,
Swim Tracker
Best Budget
OnePlus ₹1,699 55% - 5-star
24% - 4-star
Heart Rate Monitor,
Sleep Tracker, Blood Oxygen Saturation Tracker
Best battery life
Oppo ₹2,799 55% 5-star
24% 4-star
Find My Phone, Reminders, Heart Rate Monitor Affordable fitness band
Fastrack ₹2,499 48% 5-star
21% 4-star
Fitness Tracker, Pedometer, GPS, Heart Rate
Monitor
20 Unique Bandfaces
magnetic charger
fitbit ₹7,999 58% 5-star
23% 4-star
Built-in GPS, Heart Rate, Sleep Tracker, Swim
Tracker, Pedometer, Calorie Counter
Water-resistant
Very responsive touch

Honor ₹3,999 56% 5-star
23% 4-star
SpO2, 24/7 Heart Rate, Stress & Sleep Monitor,
Personalised Watch Faces, Workout
Auto-Detection
Cheapest smart bands compatible
with android and apple devices

9. Development: Stage 4
●Plastic band
●GPS system
●Led system controlled by chip-set
●Basic digital screen (like in digital
watch)
●Software with 2 versions (one for
police one for users)
●Integration
●Testing with distance initially
●Bringing Police on board with
positive publicity
●Emergency mode
●UI mimicking smart bands so as
not to alert attackers
●Economical
●Compact
●Location data is collected (no
personal data collection) to
identify spots which are →
relatively dangerous locality
PoP PoD

10. high features
low features
high pricelow price
Positioning

11. Product Testing: Stage 5
Consumer Interest
Device F M Total
Band 24 18 42
Clothing 0 5 5
Glasses 5 5 10
Other 5 0 5
Ring 5 0 5
Watch 24 12 36
Consumer Ownership
Device F M Total
Band 20 12 32
Clothing 0 4 4
Glasses 5 0 5
Other 2 0 2
Ring 4 5 9
Watch 32 19 51
* weighted by usage rate
●Untapped market
for fitness bands
●Saturated market
for smart watch

12. Market needs - Conjoint analysis
Consumer Needs
Device F M Total
Aesthetics 17 5 42
Convenience 10 14 5
Durability 11 16 10
Price 5 5 5
Privacy 4 0 5
Utility 16 0 36
* weighted by usage rate
Testing methodologies:
Internal test
Market Survey
Market Sales Analysis

To capture 45% untapped market:

●Tests for Durability and
Convenience should score 2x
as much as Price & Privacy
●Tests for Aesthetics and
Durability should score 3x as
much as Price & Privacy

13. Launch via mega Online trend (fitness influencers + those vocal about safety and crime
rates) and promote by a series of college events, awareness camps etc.

●Profit Margin - understand the overall financial health,and the future growth
●Sales growth - for continuous improvements and growth
●Market size - one can monitor performance, analyse the marketing actions on the
brand, structure of the market
●Customer satisfaction index - analyze how numbers have developed over time,
compare your scores with industry competitors, and measure how satisfaction varies
across the world
●Retention rate - to understand percentage of users who are continuing to use your
product,analyze project profits and growth

Launch & Evaluation

14. User Persona
Tanya Khare
Age - 23
Gender- Identifies as Female
Location- Bangalore
Income- 4.25 Lakh / annum
Values-
Freedom and safety, looking for
price-benefit product
Fears-
Calorie conscious need exercise
tracking, Kidnap, Manhandling
Goals and Objectives-
➔Looking for an affordable
fitness tracker
➔A stress free mind while
commuting to work, as it is
hampers productivity

➔Commutes daily by Bus (public transport),
spends an average of 2 hrs/ day traveling
➔Keeps up-to-date with new trends in
technology and is comfortable using it
➔Has many apps (mostly social media and
commute) in Phone, used regularly
➔Looking for economical options

15. Potential Impact
●Real Time Tracking -

1.The system consists of 1 wearable and 2 app versions
2.Device mapping versions for the police and a functional version
3.As device location can be tracked by wearables it can inform the authorities or nearby people in case of
an emergency → reduces the possibility of physical harassment
4.Help in avoiding the incidents or might also help in tracking the aggressor

●Cost-effective, User Friendly and easily Portable

●Subtle indicator for seeking help as communication would be done using alternate LED colours which the
victim can understand → the assaulter will not be alerted or aggravated

●Societal Impact -

1.Initiative will sensitize people towards the issue of women’s safety and gradually more innovation and
limelight to this might bring about a significant change in people’s mindset → reduce eve - teasing
2.Might cause a double impact on decreasing crime rates along with tracking
3.Reassurance to women that help will come → more confident and brave