Title of the Project : Marketing Strategies Of WAKEFIT

INNOVATINS PRIVATE LIMITED

REPORT SUBMITTED IN FULFILLMENT OF

REQUREMENT
FOR GRADUATE PROGRAMME IN MANAGEMENT, BBA
(H) UNDER VIDYASAGAR UNIVERSITY

Prepared BY :-
AMAN KUMAR CHOUHAN
Roll No :- UG/VUOAP02/2021/BBA-IS NO. 007
Registration No:- VU211044954
PROF. DR. SURAJIT GHOSH DASTIDAR
(EIILM, KOLKATA)

EASTERN INSTITUTE FOR INTEGRATED LEARNING IN

MANAGEMENT
6, Waterloo Street, Kolkata-700069
(2024)

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 DECLARATION

I, AMAN KUMAR CHOUHAN, do hereby declare this report titled

“Marketing Strategies Of WAKEFIT INNOVATINS PRIVATE LIMITED” is
submitted by me for the partial fulfillment of BBA course under
VIDYASAGAR UNIVERSITY.
This report is exclusively prepared by me and has not been submitted to any
other institutions or published anywhere before.

DATE: 29.04.2024
Name :- AMAN KUMAR CHOUHAN
PLACE: KOLKATA Roll No :- UG/VUOAP02/2021/BBA- IS NO. 007
Registration No :- VU211044954
BBA, 6th SEMESTER

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 ACKNOWLEDGEMENT

I express my sincere gratitude to PROF. DR. SURAJIT GHOSH DASTIDAR

, faculty, EIILM, Kolkata who has sincerely provided me with critical suggestions and
valuable insights which enabled me to complete the project and bring out this report in the
best way possible.
I would take this opportunity to thank Prof (Dr.) R.P Banerjee, Director, EIILM, Kolkata
and other faculty members of the institute for their cooperation and support.
I am also thankful to all other persons who directly or indirectly helped me to accomplish my
project work.

Date: Signature:

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 TABLE OF CONTENTS

SL. NO. PARTICULARS PAGE. NO.

1 INTRODUCTION 5

2 6
OBJECTIVES

3 METHODOLOGY 7

4 KEY FINDING ANALYSIS 8-9

Customer Satisfaction and Recognition

5 9-10

6 DATA ANALYSIS ON REVENUE 10-15

Recommendations
7 16

Conclusion
8 17

9 BIBLIOGRAPHY 18

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Introduction
Wakefit Innovations Private Limited is a leading Indian
sleep solutions company that specializes in providing
high-quality mattresses, pillows, bed bases, and other
sleep-related products. The company focuses on delivering
innovative products that prioritize customer comfort and
well-being. This consumer behavior study aims to analyze
Wakefit's customer base, understand their preferences,
and explore factors influencing purchasing decisions.
Wakefit is rated 4.2 out of 5, based on 397 reviews by
employees on AmbitionBox. Wakefit is known for Skill
development which is rated at the top and given a rating of
4.0. However, Career growth is rated the lowest at 3.6 and
can be improved. Wakefit.co announces Ayushmann
Khurrana as its new Brand Ambassador. Ayushmann will
also help the brand in creating awareness and education
about sleep health and its importance in the modern
context. Wakefit.co, unveiled Ayushmann Khurrana as its
new brand ambassador in its usual quirky and fun tonality.

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 Objectives of the Study
1. Profile of Wakefit's Customers:
 Demographic characteristics (age, gender,

income level, location, occupation, etc.).

 Psychographic traits (lifestyle, values, interests,

etc.).
2. Consumer Preferences and Buying Behavior:
 Factors influencing the purchase of sleep-related

products.
 Customer satisfaction levels with Wakefit's

products.
 Buying frequency and patterns (online vs. offline,

seasonal trends, etc.).

3. Brand Perception and Customer Loyalty:
 Perceptions of Wakefit's brand image and

reputation.
 Factors contributing to brand loyalty or

dissatisfaction.
4. Impact of Marketing and Promotional Strategies:
 Effectiveness of Wakefit's marketing campaigns.

 Awareness levels of Wakefit's products among

potential consumers.
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Methodology
1. Survey Design :
 Design a structured questionnaire to gather
quantitative and qualitative data.
 Include questions on demographics, purchase
behavior, brand perception, and customer
satisfaction.

2. Sampling :

 Use stratified sampling to ensure representation

across different demographics and geographical
locations.
 Target existing customers, potential buyers, and
individuals who have never purchased from
Wakefit.

3. Data Collection :

 Conduct surveys online and offline (via email,

social media, physical locations).
 Offer incentives to encourage participation
(discounts, gift vouchers).

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 4. Data Analysis :

 Analyze survey responses using statistical tools

(SPSS, Excel).
 Identify trends, correlations, and key insights
from the data.

Key Findings and Analysis

1. Demographic Insights:
 Distribution of Wakefit's customer base by age,

income, and location.

 Lifestyle factors influencing the purchase of

sleep products.
2. Purchase Behavior:
 Factors influencing the decision to buy from

Wakefit (quality, price, reviews).

 Comparison with competitors in terms of

customer satisfaction and loyalty.

3. Brand Perception:
 Analysis of customer sentiments towards

Wakefit's brand identity.

 Identification of areas for brand improvement

and enhancement.

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4. Marketing Effectiveness:
 Evaluation of Wakefit's advertising channels

(digital, print, influencer marketing).

 Assessment of customer awareness levels and

brand recall.

Customer Satisfaction and

Recognition
Wakefit has gained recognition for its
commitment to customer satisfaction and
product quality. The company's mattresses and
sleep accessories have received positive reviews
from users, contributing to its growing
reputation in the sleep solutions market.

Social Initiatives
Beyond its commercial activities, Wakefit
Innovations is involved in social initiatives
focused on promoting better sleep habits and
raising awareness about the importance of
sleep for overall health and well-being.

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Future Outlook
Wakefit Innovations continues to expand its
product offerings and market presence, aiming
to become a leading player not only in India but
also in international markets. The company's
emphasis on innovation, affordability, and
customer-centric approach positions it well for
further growth and success in the sleep
solutions industry.

For more detailed information, you can visit

Wakefit Innovations' official website or explore
news articles and reviews about the company.

Wakefit records Rs 813 Cr revenue

in FY23; losses go up
Sleep and home solutions company Wakefit
maintained its growth trajectory and surpassed Rs
800 crore in revenue during the fiscal year ending
March 2023. However, the Peak XV Partners
(formerly Sequoia Capital)-backed firm’s losses have

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outpaced its revenue growth and neared Rs 150
crore in FY23.

Wakefit’s revenue from operations grew by 28.4% to

Rs 813 crore in the last fiscal year (FY23) from Rs
633 crore in FY22, the company’s annual financial
statement sourced from the Registrar of
Companies (RoC) shows.

The six-year-old company manufactures and sells

mattresses, pillows, accessories, and furniture from
the website and marketplace. The sale of sleep
solutions including mattresses and pillows formed
75% of the total revenue. This income surged 23.4%
to Rs 606 crore in FY22. The rest of the collections
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come from the sale of furniture, decor, dinnerware,
and storage.

See TheKredible for complete revenue breakdown.

The cost of procurement and manufacturing of home

solutions was the largest cost center for Wakefit,
accounting for 48% of the total spends. In line with
revenue, this cost increased by 24.9% to Rs 466
crore in FY23.

Other major overheads including employee benefit,

transportation-freight, legal, advertising-promotional
costs catalyzed its expenditure to the tune of 29.8%
and stood at Rs 966 crore in FY23 as compared to
Rs 744 crore in FY22.
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Check TheKredible for the detailed expense
breakup.

When it comes to bottomline, Wakefit’s losses

jumped by 36.4% to Rs 146 crore in FY23 from Rs
107 crore in FY22. Its ROCE and EBITDA margin
stood at -21% and -10% respectively. On a unit
level, it spent Rs 1.19 to earn a rupee.

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At the end of FY23, Wakefit had a cash reserve of
Rs 174 crore while the other current assets including
receivables and investments stood at Rs 212 crore.

The over $2.5 billion mattress and related

markets in India have seen the kind of
excitement in recent months that is guaranteed
to lead to sleep deprivation for many in the
sector. From Sheela Foam’s acquisition of Kurl
On followed by the Rs 300 crore bet on
furniture rental firm Furlenco, to Wakefit’s own
aggressive moves to grab share, even as other
incumbents and newcomers spruce up for the
changing market, it’s all happening after
seemingly decades of soporific growth. Wakefit
will probably consider FY23 numbers a little
behind its own expectations, going by the
aggressive projections made last year.

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Even as it beats industry growth rates of 10% or
so, it is increasingly, the only major player at
scale that is making losses. While its investors
seem fine with that for now, they will know that
profitability is hardly an arms length away,
especially when or if biggies like IKEA, or even
Amazon drop their own brands into the mix.
That’s no longer speculation, and increasingly,
the issues remains of when, not if. For Wakefit,
that will mean doubling down on what it has
done well so far, building a brand that is seen
as modern, responsive and capable of being
used across more segments beyond
mattresses and pillows successfully. Can that
happen without lots of growth capital? The jury
is out on that.

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 Recommendations
1. Product Development:
 Tailor product offerings based on identified

customer preferences.
 Introduce new features or variations to meet

diverse consumer needs.

2. Marketing Strategies:
 Optimize marketing efforts based on consumer

feedback.
 Enhance brand visibility through targeted

campaigns and collaborations.

3. Customer Engagement:
 Implement customer loyalty programs and after-

sales services.
 Enhance customer support to address queries

and concerns effectively.

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Conclusion
This consumer behavior study provides valuable
insights into Wakefit Innovations' customer base,
shedding light on factors that influence purchase
decisions and brand perception. The findings will
guide strategic initiatives aimed at enhancing
customer satisfaction, strengthening brand loyalty,
and driving business growth for Wakefit Innovations
Private Limited.

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 BIBLIOGRAPHY

 Garg, Ankit, and Chaitanya Ramalingegowda. "How Wakefit

is Revolutionizing the Indian Sleep Industry." Forbes India, 15
May 2022, www.forbesindia.com/article/brand-connect/how-
wakefit-is-revolutionizing-the-indian-sleep-industry/87033/1.
 "Wakefit: An Overview of India's Fastest-Growing Sleep
Solutions Brand." Business Today, 20 June 2023,
www.businesstoday.in/wakefit-indias-fastest-growing-sleep-
solutions-brand.
 Sharma, Priya. "Wakefit's Innovative Approach to Sleep
Solutions." Entrepreneur India, 8 September 2023,
www.entrepreneur.com/article/789542.
 "Wakefit Innovations Private Limited." Company Profile,
Crunchbase, www.crunchbase.com/organization/wakefit-
innovations-private-limited.
 Customer Reviews on Wakefit Products. Various customer
feedback platforms and e-commerce websites like Amazon and
Flipkart.
 Wakefit Innovations' Official Website: www.wakefit.co.

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