Book: 22 Immutable Laws of Marketing

Sharing top 10 Laws from 22

Implement it and be winner of your field

Objectives

•       To share 40 years of marketing expertise OF Jack trout and Alries through 22 immutable laws of Marketing that govern the world of marketing.

•       Strengthen our knowledge about these Rules.

•       Help our customers for taking advantage of it.

 

How we can use it.

 

• Can be used as a 'diagnostic check' of a company's marketing plan for a given product or service
• To ensure that all possible perspectives and issues have been considered.
• The second use is a reminder of the importance of the perception of your service or product in the mind of your customer.

What is Marketing?

•       Marketing is the process of creating or directing an organization to be successful in selling a product or service that a particular set of people not only desire, but are willing to buy

•       It is also concerned with anticipating  the customers' future needs and wants

 

The Goal of Marketing

•       To build & maintain  a preference for a company  and it’s products over those of it’s competitors, within the target markets

•       To build mutually profitable and sustainable relationships  with its customers

 22 Immutable Laws

 

No. 1: The Law of Leadership

(It’s better to be first, than it is to be better)

 

Let me prove it by a question:

Who was first person to go on Moon? we all know right?

But who was 2nd????

 

This proves it all, we all remember no. 1 only

Marketing is a Battle of Perceptions

•         In Marketing, the true issue is not convincing prospects  that you have a better product  or service

•         The issue is creating a category  you can be first in

 

–    It’s much easier to get into the mind first than to try to convince someone that you have a better product.

–    Category Known for product name?

•     Colegate, Xerox, etc..

 

No. 2: The Law of Category

(If you can’t be first in a category. Set up a new category to be first in.)

•       People are interested  in what’s new  & first in the market; few in what’s better

•       Before launching  the product into the market 

•       No competition in the ‘new category’ market. So, when you first   in a new category

–     promote the category

•         Dell, in the early 80’s,

•         The idea/category it successfully promoted: Directly- Sold-to-Consumer PCs

•         Today, Dell’s revenues are over $57 billion

 

No. 3: The Law of Mind

(If better to be first In the mind, than to be first in the marketplace)

•       If you are not first in the marketplace  but first  in the prospects’ minds (through a good marketing campaign), you are sure to have a majority share  in the market

 No. 4: The Law of Perception

(Marketing is not a battle of products. It’s a battle of perception)

The Case of Japanese Cars sales in USA

No. 1: Honda,

No. 2: Toyota

and No. 3: Nissan

 

 

In Japan it is:

No. 1: Nissan

No. 2: Toyota

and No. 3: Honda

as Honda is two wheeler manufacturing company in Japan thus never won trust as car developers

 

No. 5: The Law of Focus

(The most powerful concept in marketing is owning a WORD.)

Every known brand has owned a word in customers mind, thus if you are aspired to become a brand, simply own a word which they are using in their daily life's

For example:

Which word you remember when you think of this brands?

1. Macdonald: Is it "Fast Food"?
2. Volvo: Is it "Safety"?
3. Domino's: Is it "Home-Delivery"?

No. 6: The Law of Exclusivity

(Two companies cannot own the same word in the prospects mind)

The law say's : if your competitor has already owned a way in customers mind than you can't own same word as if you will then you will be doing promotion of your competitor by spending your own money

 

 

No. 7: The Law of Ladder

(The strategy to use depends of which rung of the ladder your on)

The strategy says that customer allots limited space in mind to brands, to be specific he/she will remember only top 3 brands and choose anyone among another. If No. 1 ladder product will not be available than he will chose No.2 and if both products are not available than he will choose No. 3 thus

If You are on Number 2 than your strategy is just opposite of Number 1. 

 

Avis rental car say's : We work hard to satisfy our customers because we are just No. 2 car rental company

 

No. 8: The Law of Duality

(In the end, every market becomes a two horse race)

 Let us try:

 

•       Name two computer operating systems.

 

• It must be Windows and I- OS (For software developers it may change)

•       Name most two mobile brands (In Terms of Reputation)

• Apple and Samsung

ONLY TWO COMPETITORS for Major Market share

No. 9: The Law if Opposite

(If you’re shooting for 2nd place,

then your strategy is determined by the leader.)

In Market there are only two kind of customers:

•       One Who want to buy from You & Another one who don’t want to.

•       Pepsi positioned itself against the leader. If old people drink Coke, the young drink Pepsi, there’s nobody left to take the alternatives to
the Cola Drinks

 No. 10: The Law of Division

(Over time, a category will divide into two or more categories)

•  Over time a category will divide into two or more categories for example: