22 immutable-laws-of-marketing


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22 immutable-laws-of-marketing

  1. 1. T he 22Immutable Lawsof Ries and Jack TroutBy Al Mar keting
  2. 2. Definitions  Immutable – (adjective) Unchanging or unable to change.  Law – (noun) A rule which cannot or should not be broken.
  3. 3. . The Law ofLeadership  It’s better to be first than it is to be better.  The basic issue in marketing is creating a category you can be first in.  E.g., most people know who flew across the Atlantic first, but not second.  Sometimes called: The First Mover Advantage
  4. 4. The Law of Category  If you can’t be first in a category, set up a new category you can be first in.  E.g., most people don’t know who flew across the Atlantic third, but they know who the first woman to do that was.  Lexus was the first Japanese luxury car
  5. 5. . The Law of the Mind  It’s better to be first in the mind than to be first in the marketplace.  E.g., Altair 8800 was the first PC, but Apple got first in the mind.  IBM was the first software vendor, but now we associate software with…
  6. 6. The Law of Perception  Marketing is not a battle of products; it is a battle of perceptions.  Is Honda better than Toyota? Is Toyota better than Honda?  Which would you rather have? Why?
  7. 7. The Law of Focus The most powerful concept in marketing is owning a word in the prospect’s mind. Or when the brand become synonymous with the category E.g., Xerox this, FedEx that, and get me some Kleenex. New ones: iPod & Blackberry
  8. 8. The Law of Exclusivity  Two companies cannot own the same word in the prospect’s mind.  What companies do you think of when I say “operating system” or “mustard” or “frozen pizza”?
  9. 9. The Law of the Ladder  What strategy to use depends on which rung you occupy on the ladder.  E.g., Avis is 2nd – we try harder.  Hardee’s is third or forth, and they try even harder—and trying to find an unoccupied rung  Being closer to the top usually leads to risk aversion
  10. 10. The Law of Duality  In the long run, every market becomes a two horse race.  E.g., Coke v Pepsi, Kodak v Fuji, McDonalds and Burger King.  Dell v HP/Compaq
  11. 11. The Law of theOpposite  If you’re shooting for second place, your strategy is determined by the leader.  E.g., Coke is an old soft drink, so Pepsi went successfully for the choice of a new generation.
  12. 12. The Law of Division  Over time, a category will divide and become two or more categories.  e.g., computers, automobiles, coffee
  13. 13. The Law ofPerspective  Marketing effects take place over an extended period of time.  Don’t expect results to be instantaneous  A successful campaign can resonate for years
  14. 14. The Law of LineExtension  There is an irresistible pressure to extend the equity of the brand.  Coming soon: Arm and Hammer Cat Food
  15. 15. The Law of Sacrifice  You have to give up something in order to get something.  E.g., FedEx sacrificed other air freight options for small packages overnight, and owned the word “overnight”.  For years Honda focused all its efforts on the Civic (cvcc) and dominated the sub- compact market
  16. 16. The Law of Attributes  For every attribute, there is an opposite, effective attribute.  E.g., Crest toothpaste fights cavities, but Close Up freshens breath.  PC is synonymous with business computing, Apple = creativity
  17. 17. The Law of Candour When you admit a negative, the prospect will give you a positive. E.g., the 1970 VW will stay ugly longer – implies reliability not good looks. Prospects know what the truth is, and they reward honesty UPS’s brown trucks are ugly, but we love the truck
  18. 18. The Law of Singularity  In each situation, only one move will produce substantial results. In a military sense, this is called the line of least expectation.  Choose the move where you expect the least chance of “surprises”.  E.g., the Allied invasion of Normandy.
  19. 19. The Law ofUnpredictability  Unless you write your competitors’ plans, you can’t predict the future.  It is best to be flexible and ready to react to changes in the market.
  20. 20. The Law of Success Success often leads to arrogance, and arrogance to failure. GM was successful into the 70s but continued to lose share thru the 90s, and all that time they assumed they knew what consumers wanted In 1985 IBM assumed they owned the PC market
  21. 21. The Law of Failure  Failure is to be expected and accepted.  Ford almost lost the company on the Edsel in the 50’s  Radio Shack and Apple marketed some disappointing computers in the 80’s
  22. 22. The Law of Hype The situation is often the opposite of the way it appears in the press. When Ford was successful, the company said very little. Now it throws a lot of press conferences. What do you think when a car dealer says, “We have the best prices in town.”
  23. 23. The Law ofAcceleration  Successful programs are not built on fads; they’re built on trends. Ninja Turtles could have been the next Barbie dolls if the market hadn’t been flooded, and if the makers had tried to turn the fad into a trend.
  24. 24. The Law of Resources 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 one the consumer is aware of.