This brilliant book is authored by Al Ries and Jack Trout, two of the world’s most successful marketing strategists. Though I am not aware of many good marketing books I feel this one is a must read for every marketing professional. It is crisp, it is to the point, it is very appealing and has real-life supporting examples to which you can instantly relate. It is an old book but the fundas seem to be still valid. The author’s claim is “Marketing is about perception, not products”- so true !!
Yet many of us fail to realize this.
I analyzed several TV commercials based on what I learned from this book. I can safely say 95% of the marketing strategists of these companies need to revisit their strategy and spend some time to read this book. My personal favorite law is “The Law of Focus”. I am jotting down the laws here just in case you don’t get the book –
The Law of Leadership: It is better to be first than it is to be better. It is easier to get into customer’s mind as a leader in something rather than convincing that you are better than the existing product. So find out a niche category you can say you are No.1 in.
The Law of Category: If you can’t be first in a category, set up a new category you can be first in.
The Law of the Mind: It’s better to be first in the mind than to be first in the marketplace.
The Law of Perception: Marketing is not a battle of products; it’s a battle of perceptions.
The Law of Focus: The most powerful concept in marketing is owning a word in the prospect’s mind.
The Law of exclusivity: Two companies cannot own the same word in the prospect’s mind.
The Law of the Ladder: The strategy to use depends on which rung you occupy on the ladder.
The Law of duality: In the long run, every market becomes a two-horse race. Only two products will have maximum share in the market for that category. If you are the third, you better find a new category else your share will never improve.
The Law of the Opposite: If you are shooting for the second place, your strategy is determined by the leader.
The Law of Division: Over time a category will divide and become two or more categories. You need to be watchful of this.
The Law of Perspective: Marketing effects take place over an extended period of time.
The Law of Line Extension: There’s an irresistible pressure to extend the equity of the brand. In short don’t relent to this pressure or you will go the Donald Trump way.
The Law of Sacrifice: You have to give up something in order to get something. Don’t claim that your product is capable of everything. To say you are the best in everything will take you nowhere. Instead say I am the best in “XYZ” but for that you need to sacrifice your position with respect to other features of your product/service.
The Law of Attributes: For every attribute, there is an opposite effective attribute.
Find that out and use it against your competitor.
The Law of Candor: When you admit a negative in your product, the prospect will give you a positive. Admit your disinfectant smells bad, the prospect will say if it smells bad it must be killing germs
The Law of Singularity: In each situation only one move will produce substantial results.
The Law of Unpredictability: Unless you write your competitors’ plans, you can’t predict the future.
The Law of Success: Success often leads to arrogance, and arrogance to failure.
The Law of Failure: Failure is to be expected and accepted.
The Law of Hype: The situation is often the opposite of the way it appears in the press.
The Law of Acceleration: Successful programs are not build on fads, they are built on trends. Learn to differentiate between these two.
The Law of Resources: Without adequate funding an idea won’t get off the ground.
It’s all about money honey
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