This idea cost Colgate $100,000 but made them the market leader they are today.
In the 1950s, Colgate searched for an idea to improve its sales and profits. A man came forward with an idea but wanted $100,000 for it.
Colgate was out of ideas and decided to pay. Can you guess what the idea was?
The man told Colgate to increase the size of the orifice. Just by increasing the size of the orifice from 5mm to 6mm, the amount of paste dispensed per use increased by 40%.
As a result, the toothpaste sold faster, and people bought more of the product. And that was not all.
They also increased the number of bristle rows in the brush and created television commercials showcasing toothpaste on the full length of the bristles, further promoting the idea of using more toothpaste.
Today, Colgate is the market leader in the Indian toothpaste industry, with a market share of 48.3%.
Do you know any marketing stories like this?
P.S- One should not use more than peanut size amounts of paste and a brush slightly larger than a baby brush.
#marketingstory #colgate #marketing101
Can't wait to try this!!