Immutable laws of marketing

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Michael Roach tells us his about his immutable laws for marketing at Ignite Columbia.

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Immutable laws of marketing

  1. 1. Marketing Something <ul><li>How Reis & Trout Revolutionized Branding & Advertising </li></ul>
  2. 2. LEADERSHIP #1 <ul><li>The importance of being #1 </li></ul><ul><li>You know the number #1 </li></ul><ul><ul><li>Who is #2? </li></ul></ul><ul><li>First to appear is usually ends up #1 </li></ul>Excerpted (without permission) from The 22 Immutable Laws of Marketing: Violate Them at Your Own Risk by Al Ries & Jack Trout
  3. 3. CATEGORY #2 <ul><li>If you cannot be the first in your category, start a new category </li></ul><ul><li>First person to fly across the Atlantic </li></ul><ul><ul><li>Who was the second? </li></ul></ul><ul><ul><li>Who was the first woman? </li></ul></ul>
  4. 4. THE MIND #3 <ul><li>Better to be first in the mind than first in the marketplace </li></ul><ul><ul><li>TiVo </li></ul></ul><ul><ul><li>Kleenex </li></ul></ul><ul><li>Top of Mind Awareness </li></ul><ul><li>Consideration Set </li></ul><ul><li>Positioning </li></ul>
  5. 5. PERCEPTION #4 <ul><li>In the battle between products, perception is more important than reality </li></ul><ul><li>Marketing is not a battle of products, but a battle of perceptions </li></ul><ul><li>Build a better product … or </li></ul><ul><li>Create a product better suited for a specific group with a specific problem not solved well by others </li></ul>
  6. 6. FOCUS #5 <ul><li>“The most powerful concept in marketing is owning a word in the prospect’s mind.” </li></ul><ul><li>FedEx > “overnight” </li></ul><ul><li>If you chase two rabbits, both will escape </li></ul>EXCLUSIVITY #6 <ul><li>Two companies cannot own the same word in the prospect’s mind </li></ul>
  7. 7. THE LADDER #7 <ul><li>There is more than one slot available in the minds of the customers </li></ul><ul><li>Good / Better / Best </li></ul><ul><li>Cheap / Value / Quality </li></ul>DUALITY #8 <ul><li>Every market is a two-horse race </li></ul><ul><ul><li>Coke & Pepsi </li></ul></ul><ul><ul><li>Canon & Nikon </li></ul></ul>
  8. 8. THE OPPOSITE #9 <ul><li>The #2 player should do the opposite of the #1 player </li></ul><ul><ul><li>Wal-Mart v. Target </li></ul></ul><ul><li>Offer an alternative to #1 </li></ul><ul><ul><li>#1 </li></ul></ul><ul><ul><li>#2 </li></ul></ul><ul><ul><li>Everyone else </li></ul></ul><ul><li>If you stand for nothing, you’ll fall for anything </li></ul>
  9. 9. DIVISION #10 <ul><li>Over time, categories tend to divide </li></ul><ul><li>Restaurants </li></ul><ul><ul><li>Quick Service </li></ul></ul><ul><ul><ul><li>Healthy </li></ul></ul></ul><ul><ul><li>Casual Dining </li></ul></ul><ul><ul><ul><li>Quick Casual </li></ul></ul></ul><ul><ul><li>Fine Dining </li></ul></ul><ul><ul><ul><li>Luxury </li></ul></ul></ul><ul><ul><ul><li>Casual </li></ul></ul></ul>
  10. 10. PERSPECTIVE #11 <ul><li>Marketing effects take place over an extended period of time </li></ul><ul><li>Some actions are negative in the long term, even if they seem positive in the short term </li></ul><ul><li>Couponing </li></ul><ul><ul><li>Initial effect: increase sales </li></ul></ul><ul><ul><li>Long-term effect: maintain sales </li></ul></ul>
  11. 11. LINE EXTENSION #12 <ul><li>Apply the name of a one product to another product </li></ul><ul><ul><li>The power of the brand will help sell the new product </li></ul></ul><ul><li>Basically never works </li></ul><ul><ul><li>Tarnishes the brand </li></ul></ul><ul><ul><li>Creates brand confusion </li></ul></ul>
  12. 12. SACRIFICE #13 <ul><li>You have to give something up in order to get something </li></ul><ul><li>Once you know what you can win at, you can lose at everything else </li></ul>ATTRIBUTES #14 <ul><li>For every attribute, there is an opposite, equally effective attribute </li></ul><ul><ul><li>Plastic door knobs </li></ul></ul>
  13. 13. CANDOR #15 <ul><li>When you admit a negative, the prospect will give you a positive </li></ul><ul><li>Being genuine builds credibility & trust </li></ul><ul><li>Scope tastes minty, not mediciny </li></ul><ul><ul><li>Listerine is the taste you hate, twice a day, because you know it’s working </li></ul></ul><ul><li>Avis is #2 </li></ul><ul><ul><li>Our lines are shorter </li></ul></ul>
  14. 14. SINGULARITY #16 <ul><li>In each situation, only one move will produce substantial results </li></ul><ul><li>One bold stroke is much better than a bunch of small marketing efforts. </li></ul><ul><li>Marketing is too important to be left to the marketing people. </li></ul>
  15. 15. UNPREDICABILITY #17 <ul><li>Unless you write your competitor’s plans, you can’t predict the future </li></ul><ul><li>Long-term planning is necessary only for providing purpose to short-term planning </li></ul><ul><li>… to cope with an unpredictable world … build an enormous amount of flexibility into your organization </li></ul>
  16. 16. SUCCESS #18 <ul><li>Success leads to arrogance </li></ul><ul><li>Arrogance leads to failure </li></ul>FAILURE #19 <ul><li>… is to be expected, and accepted </li></ul><ul><li>If you’re in a hole, stop digging. </li></ul>
  17. 17. HYPE #20 <ul><li>History is filled with marketing failures that were successful in the press </li></ul><ul><li>Fame or Fortune? </li></ul><ul><li>The videophone has been in the press for more than 40 years </li></ul><ul><ul><li>It still doesn’t exist </li></ul></ul>
  18. 18. ACCELERATION #21 <ul><li>Successful programs are not built on fads, they’re built on trends </li></ul><ul><li>Fads accelerate quickly, but don’t last long </li></ul><ul><ul><li>Difficult to predict or see the end </li></ul></ul><ul><li>Trends accelerate slowly, but run fast and steady </li></ul><ul><ul><li>The end is easy to see clearly </li></ul></ul><ul><ul><li>Gives the marketer time to retool </li></ul></ul><ul><li>Are you a weed or an oak tree? </li></ul>
  19. 19. RESOURCES #22 <ul><li>Without adequate funding, an idea won’t get off the ground </li></ul><ul><li>“resources” means: </li></ul><ul><ul><li>capital for planting, building, growing and expanding </li></ul></ul><ul><li>“resources” does not mean: </li></ul><ul><ul><li>big budget ad campaign for a product that doesn’t exist yet </li></ul></ul>
  20. 20. J. Michael Roach Creative Director Caledon Virtual Partner KimberMedia Director of Brand Communications PrintNinja facebook.com /jmichaelroach twitter.com /jmichaelroach

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