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22 laws of marketing presentation

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This Presentation was done by the president of G-squared Marketing to Midlands State University 4thh year undergraduates.

This Presentation was done by the president of G-squared Marketing to Midlands State University 4thh year undergraduates.

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  • 1. G-Squared Marketing
  • 2. These are the laws that help marketers to win the MIND of a consumer or a potential consumer. The laws were designed by Jack Trout and Al Rie in their book the 22Immutable laws of marketing. The 22 Immutable Laws of Marketing G-Squared Marketing
  • 3. Being first in the Market is better than having a better product than a competition. Example: we all remember who was the first man on the moon but almost no-one knows who was the second. Econet was the first mobile telecommunications company in Zimbabwe. Being first does not matter if the idea/product is not good LAW 1 (law of Leadership) G-Squared Marketing
  • 4. Given that its very hard to gain leadership in a category where competition already exists, its better to create a product in new category than trying to attack existing categories. Category doesn’t have to be radically different, e.g. if there’s dominant player in voice then one can become the first in data. LAW 2 (law of Category) G-Squared Marketing
  • 5. Its not important to be the first in the market but the first in the mind of consumers. In Zimbabwe if you talk about a soft drink the first thing to come into mind is Coca-Cola. Washing powder is Surf though Omo is the first in the Market. LAW 3 (law of Mind) G-Squared Marketing
  • 6. Marketing is not about products (their features or quality) but about perceptions (how people perceive products). Honda is a leading Japanese car manufacturer in US but only third in Japan after Toyota and Nissan. In Japan however people perceive Honda as a manufacturer of motorcycles. Therefore what's important is that marketing should be focused on changing the perception. LAW 4 (law of Perception) G-Squared Marketing
  • 7. The most powerful concept in marketing is owning a word in the prospect’s mind. Owning in this context means that if people hear or see this word they usually connect it with a company that owns this word. Unilever owns ‘cosmetics.’ Swift owns ‘overnight.’ you can’t take somebody else’s word. LAW 5 (law of Focus) G-Squared Marketing
  • 8. Its fruitless to try to take over a word that is already owned by a competitor. Econet tried to own word ‘value for money’ which was already owned by Telecel and failed miserably. FedEx tried to take over ‘worldwide’ from DHL. LAW 6 (law of Exclusivity) G-Squared Marketing
  • 9. Marketing strategy depends on your position in the market. If you’re No. 2 you use different strategy than when you’re No. 2 or 3. Econet always advertise using the fact that they are the leading Telecommunications company in Zimbabwe and they keep on being the market leader because everyone wants to be associated with the best. LAW 7 (law of Ladder) G-Squared Marketing
  • 10. In the long-run, every market becomes a two-horse race. Econet and Telecel. Nike and Reebok. Crest and Colgate. Bakers Inn and Lobel’s. Irvine's and SunCrest. LAW 8 (law of Duality) G-Squared Marketing
  • 11. If you’re shooting for second place, your strategy is determined by the leader. Leverage the leader’s strength into weaknesses. Don’t try to be better than the leader, try to be different. E.g. Pepsi marketed itself as a ‘choice for the new generation’ when faced with Coca-Cola ‘old and established’ brand. LAW 9 (law of Opposite) G-Squared Marketing
  • 12. Over time a category will divide and become two or more categories. E.g. computers started as a single category but broke up into mainframes, workstations, personal computers, laptops etc. Leader can maintain dominance by addressing emerging categories with new brand names instead of using brand name successful in one category in a new category. E.g. when Econet wanted to go up- market it created a new brand, Ecocash. LAW 10 (law of Division) G-Squared Marketing
  • 13. Marketing effects take place over an extended period of time. It’s a mistake to sacrifice long-term planning with actions to improve short-term balance sheet. E.g. sales increase short-term profits but in long-term educates people not to buy for regular price, therefore decreasing long- term profits. LAW 11 (law of Perception) G-Squared Marketing
  • 14. There’s an irresistible pressure to extend the equity of the brand and it’s a mistake. Instead should create new brands to address new markets/products. E.g. Telecel introduced the new Red products, Tel•One introduced ADSL broadband product. LAW 12 (law of Extension) G-Squared Marketing
  • 15. You have to give up something in order to get something. There are three things to sacrifice: 1) Product line- EcoLife was abandoned and EcoCash was Formed 2) Target market. 3) Constant change. LAW 13 (law of Sacrifice) G-Squared Marketing
  • 16. For every attribute, there is an opposite, effective attribute. You can own the same word as the competition. You have to find another word to own, another attribute E.g. Econet Broadband owns ‘Endless Possibilities’ LAW 14 (law of Attributes) G-Squared Marketing
  • 17. When you admit a negative, the prospect will give you a positive. Candor is disarming. Its ok to admit, as Avis did, that ‘Avis is only No. 2 in rent- a-car and Telecel admit that its behind Econet. LAW 15 (law of Candor) G-Squared Marketing
  • 18. In each situation, only one move will produce substantial results. People tend to think that success is the result of a lot of small efforts well executed, that working harder is a way to success. In marketing the only thing that works is a single, bold stroke. LAW 16 ( law of Singularity) G-Squared Marketing
  • 19. Unless you write your competitors’ plans, you can’t predict the future. You don’t know the future, you don’t know what your competition will do so you have to build your company and marketing strategies to be flexible, to be able to quickly respond to changing situation. E.g. the Telecel marketing strategies for their mobile money were not flexible that when Econet came with EcoCash they did not respond to the situation. LAW 17 (law of Predictability) G-Squared Marketing
  • 20. Success often leads to arrogance, and arrogance to failure. Don’t be arrogant, drop ego, be objective. The reason why PTC failed was because they had that ego that they are protected by the government regulation and they failed to be objective and Econet came and take the lead. Don’t cling to the past because if you cling to the past they will be sacrificing the future. Change is about excitement, adventure and success. LAW 18 (law of Success) G-Squared Marketing
  • 21. Failure is to be expected and accepted. Drop things that don’t work instead of trying to fix them. Don’t punish for failures (if you do people will stop taking risks). A work place must be an experiment laboratory leave the workers to experiment at work because competitive advantage comes from them. E.g. Econet dropped EcoLife when it failed to work as per their objective. LAW 19 (law of Failure) G-Squared Marketing
  • 22. The situation is often the opposite of the way it appears in the press. The amount of hype isn’t proportional to success; often failed products are heavily hyped. LAW 20 (law of Hype) G-Squared Marketing
  • 23. Successful programs are not built on fads but on trends. The success of EcoCash was based on the success of Buddie and Econet Broadband. Law 21 (law of Acceleration) G-Squared Marketing
  • 24. Without adequate funding an idea won’t get off the ground. You need a lot of money to market your ideas. The laying of fibre optic cables is not a success to Tel•One because they don't have adequate funding but for Liquid Telecoms it is a success because they have the resources. LAW 22 (law of Resources) G-Squared Marketing
  • 25. G-squared Marketing ‘Always Ahead’ THE END G-Squared Marketing ‘Always Ahead” © 2013

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