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A battle of perception or a battle of products?
This is a short and succinct compilation of the fundamental laws of Marketing. Al Ries and Jack Trout, the authors, have had many years of experience and are well seasoned veterans.Weighing in at 132 pages, it can easily be read by intermediate level readers in a few hours. These few hours or weekend that you dedicate to this reading, can shift your perception and noticeably increase your knowledge, the quality of your returns as well as the quantity of them.
We all tend to think that we know more about the world and its composition than we actually do. Yes, we are familiar with a large number of subjects, especially in the modern day. The age of information, exponential technological advances and social media has inundated us with just about every thing humanly possible of being thought of. But as one of Psychology professors once said, “many of us are familiar with things, but we don’t truly know or understand them”.
So with that being said, I will tie it back into the previous material on the book by saying that it is most wise to listen to the experts and to people who dedicate their entire lives to one profession, instead of trying to be our experts in everything. Rejuvenate and refresh your business with these timeless principles. It will save time and alot of heartache that can be used for more meaningful things!
To quote the authors of this book;
VIOLATE THEM AT YOUR OWN RISK !
22 Immutable Law of Marketing
Law 1: Leadership
It is better to be first than it is to be better.
Law 2: The Category
If you can’t be first in a category set up a new one and be first in it.
Law 3: The Mind
It is better to be first in the mind than it is to be first in the market place.
Law 4: Perception
Marketing is not a battle of products it is a battle of perceptions.
Law 5: Focus
The most powerful concept in marketing is owning a word in the prospects mind.
Law 6: Exclusivity
Two companies cannot own the same word in the prospects mind.
Law 7: The Ladder
The strategy you use depends on which rung you occupy on the ladder.
Law 8: Duality
In the long run every market becomes a two horse race.
Law 9: The Opposite
If you’re shooting for second place your strategy is determined by the leader.
Law 10: Division
Over time a category will divide and become two or more categories.
Law 11: Perspective
Marketing effects take place over an extended period of time.
Law 12: Line Extension
There is an irresistible pressure to extend the equity of the brand.
Law 13: Sacrifice
You have to give up something in order to get something.
Law 14: Attributes
For every attribute there is an opposite, effective attribute.
Law 15: Candor
When you admit a negative the prospect will give you a positive.
Law 16: Singularity
In each situation only one move will produce substantial results.
Law 17: Unpredictability
Unless you write your competitors ; plans, you can’t predict the future.
Law 18: Success
Success often leads to arrogance, and arrogance to failure
Law 19: Failure
Failure is to be expected and excepted.
Law 20: Hype
The situation is often the opposite of what it appears in the media or press.
Law 21: Acceleration
Successful programs are not built on fads, they are built on trends.
Law 22: Resources
Without adequate funding an idea won’t get off of the ground.
(Not necessarily. E.g. Air BnB)