What is the Colgate Marketing formula
Colgate is the world largest selling tooth paste brand. Now what is the formula to develop the tooth paste industry king.
- The company started in the year 1806 by William Colgate, The company headquarters at New York USA.
- He established a starch, soap, and candle factory on Dutch Street in New York City under the name William Colgate & Company.
- In 1950’s a guy declared that he has an idea to increase their sale by 40%, But the guy charged $100000 for his idea.
- During 50’s it was a really a big amount and the Colgate executives were greedy and they shooed him off.
- The executives tried and cried but came to no result which could increase the sale. So they called that guy again and asked him to perform the magic trick he said.
- Then the Guy presented them with a piece of paper with “Make the hole bigger”, Written over it and solved their problem as easy as a smile.
- They increase the size of the outlet hole from 4 to 5mm resulted in the increase of toothpaste consumption, So increase the sale.