Once two companies are competitors in selling toothpaste and toothbrushes for adults.
After a few years, there were requirements at the market for toothbrushes for kids.
Both the companies are well aware that the company which comes out with the product first will have a higher probability of dominating the market.
The first company went with the logical approach instead of doing field research.
Since adults have big hands, they need long and thick toothbrushes. Whereas kids have smaller hands, they need a small handle and thin bristle toothbrushes.
So, without any second thought and to gain the market share, they designed and produced the kid’s toothbrush in a few weeks and launched it in the market.
On the other side, the second company did extensive field research. They went to hundreds of kids and observed how they held the toothbrush and brushed their teeth.
They also took feedback from kids directly on their likings.
After the research, the second company decided that kids need toothbrushes similar to adults in handle length with some grooves and smaller bristles.
The reason is kids clung to the toothbrush instead of holding the toothbrush in their fingers as adults.
Thus instead of making a small handle toothbrush, they went with a toothbrush with a long handle, which helps to hold the brush effectively.
In addition, they added different colors and cartoon characters to the toothbrush to make it more attractive for the kids.
They launched the toothbrush in the market and sold a record number of toothbrushes in a few months. They started dominating the market and increased their market share.
Moral of the story:
We should have patience in building our knowledge and understanding of what is required to achieve our goal.
The quality time we spend on the initial stages helps to gain confidence in the longer run.
Never go for shortcuts. It will give us only instant success and then fades away. But to maintain it consistently, we need patience.