22 immutable laws of marketing
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Transcript of 22 immutable laws of marketing
Sohail Riaz, Master Trainer & Keynote speaker
KASH(Knowledge, Attitude ,Skills & Habit) Development, Islamabad ,Pakistan [email protected]
Al Ries Jack Trout
My favorite Guerilla
Marketing gurus, Al Ries and
Jack Trout, offer The 22
Immutable Laws of
Marketing. Although it was
written almost 20 years ago,
the innovative rules still
provide a solid
understanding of how to
succeed in the marketplace.
Sohail Riaz
The 22 Laws should be used as a 'diagnostic check' of a
company's market plan for a given product or service; it is
probably a useful exercise to cross-check your own plans against
the 'laws‘, if only 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 (and the consequent need to undertake qualitative
research such as focus groups and depth interviews to better
understand and define this perception).
The Law of Leadership
It is better to be first than it is to be better.
It’s much easier to get into the
mind first than try to convince
someone that you have a better
product.
Who was the 2nd President of USA?
Coca-Cola calendars go a long way back. The first one was produced in 1891, ...
The Law of Category If you can’t be first in a category, set up a new category you can be first in.
Everyone is interested in what’s new.
Few people are interested in what’s
better.
If you can’t be first in a category. Set up a new category to be first in.
The Law of the Mind
It’s better to be first in the mind
than to be first in the market
Being first in mind is everything. Being
first in the market is only important in
that it allows you to get into the mind
first.
If better to be first In the mind, than to be first in the marketplace
The Law of the Mind
The Law of Perception
Marketing is not a battle of
products, it’s a battle of perceptions
There is no objective reality. There are
no facts. There are no best products.
All that exists in the world of
marketing are perceptions in the mind
of the customer.
Marketing is a battle of perceptions.
The Law of Focus
The most powerful concept in marketing is
owning a word in the prospect’s mind
You “burn” your way into the
mind by narrowing the focus to
a single word or concept.
The Law of Exclusivity Two companies cannot own the
same word in the prospects mind
When the competitor owns a
word or position in the
prospects mind, it is futile to
attempt to own the same word.
The Law of Ladder
The strategy to use depends on which
rung you occupy on the ladder.
It might be better to be a small fish
in a big pond than a big fish in a
small pond.
The strategy to use depends of which rung of the ladder your on.
The Law of Duality
In the long run, every market
becomes a two horse race
In every new category is a ladder
with many rungs. Gradually, the
ladder becomes a two-rung affair.
RANK 1 RANK 2 RANK 1 RANK 2
RANK 1 RANK 2
The Law of Duality
In the end, every market becomes a two horse race.
In the end, every market becomes a two horse race.
The Law of the Opposite
If you’re shooting for second place, your
strategy is determined by the leader.
The key for #9 is to leverage an
opponents strengths into a
weakness.
The Law of Division
Over time, a category will divide and
become two or more categories.
As a result of law #10, the
marketing arena will always
be an ever expanding sea of
categories.
The Law of Perspective
Marketing effects take place over
an extended period of time
Long term effects are often the
exact opposite of the short term
effect. Think of the “always a
sale” retail mentality training a
customer to never buy at full
price.
Marketing effects takes place over a long period of time.
The Law of Line Extension
There’s an irresistible pressure to
extend the equity of the brand
A company tightly focused on
a profitable product may
quickly find themselves thinly
spread over many products
and losing a lot of money.
The Top Ten Best Selling Sodas of 2007
1. Coke Classic 17.2%
2. Pepsi Cola 10.7%
3. Diet Coke 10%
4. Mountain Dew 6.6.%
5. Diet Pepsi 6%
6. Dr. Pepper 5.9%
7. Sprite 5.6%
8. Fanta 1.8%
9. Diet Mountain Dew 1.6%
10. Diet Dr. Pepper 1.6%
The Law of Sacrifice
You have to give up something
in order to get something.
There are three areas of sacrifice the
product line, the target market and
constant change. Pick your poison
carefully.
The Law of Sacrifice
The Law of Attributes
For every attribute, there is an
opposite, effective attribute.
Rule #14 dictates you must find an
attribute to own and that attribute
may just be the opposite of the
leader. Hint hint.
The Law of Candor
When you admit a negative, the
prospect will give you a positive.
One of the most effective ways to get
into a prospects mind is to admit a
negative and then twist into a
positive.
Think Listerine.
When you admit a negative, the prospect gives you a positive.
The Law of Singularity
In each situation, only one move
will produce substantial results.
History teaches that the only thing that
works in marketing is a committed, single
bold stroke that is least expected by the
competition.
The Law of Unpredictability
Unless you write your competitor’s
plans, you can’t predict the future.
You can not predict the future
but you can get a handle on
trends and take advantage of
change.
Unless you an write your competitors plans,
you can’t predict the future.
The Law of Success Success often leads to arrogance
and arrogance to failure.
Those that think they are market
leaders tend to substitute what
they think for what the market
wants.
The Law of Success
The Law of Failure
Failure is to be expected
and accepted.
Recognize failure early and cut your
losses. Sometimes it is better to drop
things and move on rather than ‘reorg’
and try again.
IBM should have dropped copiers and
XEROX should have dropped
computers before they recognized their
mistakes
Success often leads to arrogance, and arrogance leads to failure.
The Law of Hype The situation is often the opposite of
the way it appears in the press.
When things are going well, you do not
need hype. When you need hype, it usually
means you are in trouble.
The Law of Acceleration
Successful programs are not built
on fads, they’re built on trends.
A fad is a wave in the ocean,
a trend is the tide. A fad gets
a lot of hype while a trend
gets very little.
The Law of Resources
Without adequate funding, an
idea won’t get off the ground.
The unfortunate reality is
that a mediocre idea
backed by a million dollars
will get further than a great
idea alone.
Sorry.
• Without adequate funding an idea won’t get off the ground.
• Regardless of how good a product is, the only product that sells is the once
the consumer is aware of.