Smartphones were becoming one of the fastest-selling products on ecommerce platforms (Amazon & Flipkart). Alongside the smartphone segment blossomed a market for smartphone accessories like cases and covers. This was the segment Gurugram-based Gaurav & Amit wanted to venture into. They tied up with Chinese manufacturers to make the smartphone covers and sold them in India. Riding on wave of skyrocketing smartphone sales on ecommerce platforms was a good idea. Noise became one of the best sellers in the mobile accessories category in the first few years. Providing customers with a better experience is the brand’s core value. By cutting its margins to some extent, Noise does not have to compromise on the quality of packaging, customer support, etc. Well-known names like JBL, Jabra, Sennheiser, Sony, Realme and Amazefit are competitors. Founders claims that Noise is staying ahead of competition by implementing customer feedback in new products, launching new product almost every month and also upgrading existing offerings. Noise was one of earliest brands in India to launch ‘truly wireless Bluetooth earphones,’ in 2018. “Bose, Apple and Jabra were present in the truly wireless Bluetooth earphones market before they entered, but their products were too expensive. Noise was offering a better value proposition to customers with value for money products. Noise doesn’t believe in discounting its products as it feels this might deteriorate the products’ value, however it does make an exception for slow-moving models. Its products are priced between Rs 2,000 & Rs 7,000; the bestselling products for the company come in the range of Rs 3,000-Rs 5,000. Noise has a one-million customer base so far, with four products being ordered every minute. A year ago, noting high returns on a certain product, Noise incorporated online payments and halted production of the product. The brand then collected feedback from customers and went back to implement the changes in the product. “The number of returns went down. Noise targets millennials between the ages of 18 and 35 living in metro cities as they are early adopters of technology. The brand is slowly moving to Tier II and Tier III markets through offline selling in small-scale shops and stores.
Define Marketing Mix? Explain the components of Marketing Mix of Noise brand with the help of suitable examples?
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