22 immutable laws of marketing the ladder rungs

An example might be to go after a leading fried chicken company like KFC and promote your grilled, healthy options. A second rung company must go for these people. There are people that want to buy from the leader and there are people that absolutely donвЂ™t want to buy from the leader. Law #9 isВ The law of the oppositeВ вЂ“ Wherever the leader is strong, there is an opportunity. Examples of this phenomenon are everywhere: Coke and Pepsi are one of the best examples. Law #8 isВ The law of dualityВ вЂ“ Gradually over time, the battle becomes a two rung affair - in the long run, every market becomes a two-horse race.В Gradually, as the market matures, players disappear and the market settles on exactly two primary players. вЂњTheyвЂ™re big and weвЂ™re small and betterвЂќ, вЂњTheyвЂ™re more successful in the market but we try harderвЂќ, Sometimes itвЂ™s better to be 3rd on a big ladder than first on a small ladder. Law #7 isВ The law of the ladderВ вЂ“ Trying to get into the mind first is best but there are strategies to play off your competitors if youвЂ™re behind. Other companies have tried to run campaigns on safety, but only Volvo has succeeded in getting into prospectвЂ™s mind with a safety message.

Law #6 isВ The law of exclusivityВ вЂ“ ItвЂ™s hard for two competing companies to own the same word in the mind of the consumer.В Example: TheВ caretakerВ Volvo owns the word вЂsafetyвЂ™. Focus on a single, powerful word if possible. Protect your word and continue to position yourself and focus on the law of the mind. If youвЂ™re not first or a current leader, you need to reduce the scope of your operations and focus. Law #5 isВ The law of focusВ вЂ“ Own a word in the mind of your prospect. This is all good, but marketers need to sell the product around what people want and perceive. Do not focus on the facts, вЂњthe truthвЂќ and the features. Law #4 isThe law of perceptionВ вЂ“ ItвЂ™s not a battle of products. They had a simple, easy to remember name and a focused, creative ad plan. For example: Apple got off the ground with very little money. Being first in the mind is most important when possible.

Law # 3 isThe law of the mindВ вЂ“ This law modifies law #1, the law of leadership. (Examples: Gaming computer, magazine for mature women, Clothes for tall people, etc.) If you canвЂ™t be first in a category just create your own new category. Law # 2 isThe law of the categoryВ вЂ“ Promote the category. Law # 1 is The law of leadershipВ вЂ“ itвЂ™s better to be first than it is to be better вЂ“ marketing is the battle of perception, not products. So without further ado, here is my summary of the 22 immutable laws of marketing: IвЂ™m sure youвЂ™ll come away from this with an important nugget or idea that you can use in the future. But itвЂ™s an interested exploration and I thought it would be worthwhile to share a summary of each law. This book was written several decades ago at this point, so take all of this with a grain of salt. When it comes down to it, I donвЂ™t entirely agree that any of the вЂњlawsвЂќ in this book are actually immutable. For example, the вЂњLaw of FocusвЂќ states that the most powerful concept in marketing is вЂњowningвЂќ a word in the prospectвЂ™s mind, such as CrestвЂ™s owning cavities and NordstromвЂ™s owning service. This book presents each law with illustrations of how it works based on actual companies and their marketing strategies. The premise behind this book is that in order for marketing strategies to work, they must be in tune with some quintessential force in the marketplace.В Just as the laws of physics define the workings of the universe, so do successful marketing programs conform to the вЂњ22 Laws.вЂќ Maybe youвЂ™ll gain a little nugget of information that will help you expand your marketing ideas and techniques online. This is just a summary of some of the points that the authors cover in the book which I found to be interesting and thought provoking. This is not a book review and I am not going to fully endorse this book, nor am I going to say that itвЂ™s a waste of your time.

22 immutable laws of marketing the ladder rungs