How a market attractiveness study helped client to position itself and become market leader in online audio accessories segment

Background and Challenge
Client’s Background:
  • An horizontal e-commerce company headquartered in Bangalore, Karnataka, India and registered in Singapore. The company initially focused on book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.
Challenges Faced by Client:
  • Barriers in assessing the headphones market: The Client was facing a challenges to get detailed market research and industry report to understand the market landscape, outlook and potential of the Headphones Market in India. Hence, they contacted Ken Research and Strategy Advisory to identify all the market opportunity and gap assessment.
  • Difficulties in building audio vertical : In addition, the client was interested in building their audio accessories vertical on their platform which required to develop a perspective on the competition ecosystem, hence they outsourced this activity to Ken Research.
Online Audio Accessories Industry at Glance:
  • Continuous evolution of integration and audio technology, growing smartphone penetration and discontinued practice of delivering the earphones as part of bundled proposing with mobile phones are foremost drivers for high requirement for audio accessories.
  • The market has also observed partnerships between music accessories and mobile device producers. However, growing number of imitation products is predicted to pose a challenge to the market over the next coming years.

Approach and Recommendations
Phase 1: Provided the study on markets landscape and future outlook
  • Ken collaborated with its client to help them to understand the market landscape, outlook and potential of the Headphones Market in India.
  • In-depth and detailed discussions were carried out with the top decision making authorities.
  • The market assessment also included the market demand size to highlight the potential gaps to penetrate into the market.
  • These discussions gave the client possible indication to get a know-how of the Online audio accessories in India.
Phase 2: Key Analysis of trends, opportunities in the market
  • The second phase of work focused on competition assessment Key Trends and Future Outlook, Competition Landscape, Opportunities in the Headphones Market in India.
  • Deep Dive Benchmarking was done on various parameters like customs Duties and Taxes, Accreditations required, Partnership Opportunities, Existing Partners, Future Strategies
  • The client was able to get clarity to identify potential markets for the concerned products in India with eminent and noteworthy Primary Research by Ken Research in short span of time duration.
Phase 3: Quality Recommendations and advisory for the client
  • After identifying and analyzing the pricing and end user analysis, Ken provided quantitative intelligence of the following segments – wired and wireless, 2.1 speakers, on-ear and in-ear earphones, Bluetooth speakers and others.
  • Ken Research also offered recommendations and client was able to understand the key operational parameters in the Industry. Key Players in the industry were identified on the basis of the popularity, GMV and high growth segments.
  • Ken has been successful in assisting client with the Industry Information delivered a detailed Market Research Report and helped the client to identify potential markets.
Result and Conclusion
Identification of the right TAM
  • With our insights, the client was able to understand addressable market opportunity/ business framework in the online audio accessories market.
Valuable Insights on Competitive Benchmarking
  • The competition-specific market assessment that enables the Client to understand about key operational parameters in the Industry.
To the Way Forward
  • Not only the client was able to identify the high growth segments for business expansion but also Ken Research provided them the Partnership Opportunities and Trade scenario.

Business Impact
  • Positioned and became market leader with over 50% in online audio accessories segment

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