What did Shark tank judges do differently to be successful in Niche Market? In Shark Tank India, promising entrepreneurs sought help from the shark tank judges to start and build their businesses. Shark Tank India judges analyze the business ideas, provide assistance and invest as equity shareholders. Shark Tank India featured 7 judges: Aman Gupta, Anupam Mittal, Ashneer Grover, Vineeta Singh, Namita Thapar, Ghazal Alagh, and Peyush Bansal, what did they do differently to build a niche market? I have also provided link for shark tank judges biography.
Table of Contents
What did Shark tank judges do differently to build a niche market?
1- Aman Gupta – Founder of boAt
The Founders of boAt Aman Gupta and Sameer Mehta got success in discovering the untapped needs of the people in the Indian market. They focused on providing lifestyle accessories at affordable prices for all classes, fashionable to set a new trend, long-lasting quality instead positioning it as consumer electronics goods.
The market was already filled with branded consumer electronics goods like JBL, pTron, UBON, Noise and then boAt came in the market. boAt strategically worked on social media marketing, influence marketing, and brand collaborations. It started labeling their customer as “Amboathead”, It built a sense of community, a proud feel, and a feel associated with the company. He is one of best among shark tank judges.
Social Media Marketing
Millennials are actively engaged on social media, boAt grabbed the opportunity and started creating enormous visibility on social media. The company has a huge fan following on social media. #hashtags, storytelling, comics, breaking stereotypes, and creating connections with the public brought great success to the company.
Influencers like celebrities -Kiara Advani, Kartik Aryan, Jacqueline Fernandes, content creators – Prajakta Koli, Harsh Beniwal, Bhuvan Bam, cricketers- Shikhar Dhawan, Hardik Pandya, KL Rahul, Shreyas Iyer singers – Harry Sandhu, Neha Kakkar, Diljit Dosanjh endorsed boAt brand and created a buzz on social media.
boat collaboration with Bira 91- Bira 91 and boAt collaborated to launch a ‘BOOM’ limited-edition audio collection like headphones and Bluetooth speakers and sold on Bira 91’s merchandise store and the boAt website. boAt collaboration with Marvel – boAt and Marvel joined hands to launch a special edition based on the three most iconic Marvel characters Iron Man, Black Panther, and Captain America. IPL collaboration – The company launched their exclusive collections on the IPL cricket team and enticed cricket fans to buy right fit products to show their support to their favorite team. The company also launched an exclusive edition collection integrating the theme of fashion from web series by tieing up with Masaba Gupta at the Lakme Fashion Week 2020.
The company kept on hunting and innovating unique editions to add to its collection. It is fascinatingly used digital marketing to promote products and build relationships with the public, kept on inspiring with new slogans like #AMboAthead, I Am a Rebel, you are now plugged into Nirvana, #DoWhatFloatsYourboAt.
Shark tank judges story on YouTube
2- Anupam Mittal – Founder of shaadi.com
Anupam Mittal found shaadi.com when there were few internet users available in India. Initially, Indian parents were hesitant to arrange marriages using the internet. Now it is one of the successful matrimony websites. Shaadi.com also took advantage of social media to grab the attention of the people.
Angry Brides company launched an Angry brides game on social media to create awareness about the dowry system and child marriages and the consequences of those problems. It was appreciated by people across the globe and brought considerable attention to the website.
FastForHer company took a courageous step to break the stereotype mindset of the society about gender inequalities and the husband keeping fasting for his wife for “lambee umr” (long life) and got massive support and impressions on all social media.
‘WoEkBaat’ on valentines day 2019 company run campaign of #WoEkBaat to showcase success stories of love the couple found on shaadi.com.
3- Ashneer Grover- founder of Bharat Pe
Ashneer Grover came up with an impressive business model that is a one-stop solution to small merchants. Bharat pe replaced multiple payment QR codes with single QR codes. There were no competitors to chase them, so it got full 100% attention from the retail and Kirana stores. Their tagline is ” Ab se Dukandar is King” (means the merchant is king now onwards).
Massive merchants signed up with Bharat Pe and started using it to take advantage of free transactions. Xtraincome cards motivated more business transactions to get 1% cashback on every transaction. BharatPe launched macro and microloans to business owners which was a big gap in the Indian market because working professionals and business people were able to get loans from banks easily but small merchants and business owners were getting rejected from banks for their CIBI score.
Bharat used this opportunity and started leading loans based on the transactions without encouraging more paperwork because they are able to provide the loans to their existing customers without using the CIBIL score. This solution accurately tracked every transaction and replay amount. He is trending among shark tank judges.
4- Vineeta Singh– Founder of Sugar Cosmetics
Vineeta was in the search of bringing beauty cosmetics products that suit Indian women’s skin tones and that is how she founded Sugar Cosmetics for the Indian market. The company launched products with an all-digital approach with ‘thumb-stopping packaging’ to draw the attention of the customer. They played a key role in dominating the market with a low-poly illustrations approach on the packaging.
Influence marketing and campaigns made a great buzz on social media. #GetThePicture, #BetterWithHer campaign created awareness about the alarming issue of female foeticide and infanticide in the country. This campaign reached 43+ lakh people on social media. #EveryWomanIsWonderWoman campaign launched on social media on International Women’s Day to convey to them to embrace and love everything about themselves which has reached 19.8M people. #MySkinMyChoice campaign addressed insecurity about our skin color and made women feel comfortable and in love with their own skin tone. Sugar launched 22 shades to suit their skin.
5- Ghazal Alagh- Founder of mamaearth
The problem statement emerged at Ghazal Alagh and Varun Alagh’s home as their newborn baby developed eczema conditions wherein they were in the search of toxic free baby care products in the Indian market but most of them were contained toxic. They totally depended abroad’s products, that’s how Mamaearth came into existence. The couple decided to start a toxic free baby products company and acquire a market. Shilpa Shetty joined Mamaearth as a brand ambassador and also invested Rs 1.6 crore in the company as she “believed that toxin free products are the best”.
To create brand awareness, the company started a ‘Plant Goodness’ initiative planting saplings for every order they received. Also initiated ‘Plastic Positivity’ to recycle plastic. These campaigns grabbed the attention that every customer is contributing to the environmental wellbeing. When a well-known actress Shilpa Shetty joined hands with the company as brand ambassador and shareholder the growth accelerated to a new level.
They approached mom bloggers through word of mouth to write their experience about the products and that gained the attention of mothers to use them as they are the best healthy products for their kids.
6- Peyush Bansal – Founder of lenskart
Peyush Bansal noticed that the eyewear industry is neglected and was keen to understand the eyewear industry great deal on E- commerce. That’s how they set up the lenskart website to sell eyeglasses and sunglasses. The company launched eyewear with cutting edge technology which provides 3D trial facilities in order to make the process smoother for its customers. company focussed on providing super quality, innovativeness and excellent marketing strategy.
7 – Namita Thapar – CEO of Emcure Pharmaceuticals
Ms. Namita Thapar is chief executive officer (CEO) of a global pharmaceutical
company which based in Pune, Maharashtra called Emcure Pharma. Miss Namita was a student of Fuqua School of Business. At the start phase of career, she was an associated with the company called Guidant Corporation, USA for more than six years and later moved to Emcure pharma as an CFO. Currently, the net worth of miss Namita’s is around Rs 600 million rupees (at the year of 2021).
Shark tank judges positioned their products in a strategic way and stood out in customer’s mind.
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