Great article written by to help you solve problem

blog image of

Blogs

Immutable Laws of Marketing


marketing image

Growing a business is complex, creating products is easy all you need some investment a good place for your office or Company, and done you can start a business. Challenges come when we need to tell the peoples about your product and there are so many marketing companies promising to give your business an enormous success, but they all failed, and this causes a big loss to the company. Especially for new startups investing in marketing is a significant risk. No one should invest in marketing without knowing the laws of Marketing. These laws will help you make your marketing decision, and these laws are immutable will work for longer. 
These laws are from the terrific book "22 immutable laws of Marketing" written by "AI Ries" and "Jack Trout". So, let's begin 

Law Of Leadership

To get success in the market it's important to launch the product in first place in the category. Consumers remember the first company in the category and trust those companies. There could be a better product in the market, but people will trust it on the first launch. 
""

Law of Category

You need to choose the category and launch a product under that category. You cannot launch a category that already exists. Chose a slightly different from the existing one. Most peoples are interested in what's new not what's better.
""

Law of Mind

It's not about launching a category in the market first, it's about consumers' minds. Companies thought launching a product in the first place will give them success, but without entering the prospect's mind you cannot get success. 
""

Law of Perceptions

The famous companies are not famous because they provide the best product and best quality but because they entered in the first in the consumer's mind. Some examples of perceptions made by consumers. 
  • Soft Drink: Coca Cola
  • Main Frame Computer:  IBM
  • Personal Computer: Apple
  • Operating System: Windows
  • Processors: Intel
Remember competition is not for the product it's for the perception 
""

Law of Focus

Create a word for your product that one else has in the category. A unique and simple word that explains your product or service. The focus words are copyright so make sure you are not choosing someone else word, or you may face legal problems. 
""

Law of Exclusivity 

The exclusive title is especially important. This title is going to enter the prospect's mind for life, so choose a unique word for your product. You should advertise your product as peoples making perceptions for you not you are making perceptions for your company.
Burger King has copied "fast" from McDonald's and lost millions along with the penalty for copying keywords. McDonald owns "fastest hamburger" and Burger King tried "Best food for fast time

Law of Ladders

If you are not the first who launch the product, agree on it and not call yourself first and accept your position. The consumer mind is selective they accept innovative ideas on their position. If the consumer has made mind for first position you cannot change his/her mind and you may lose trust by calling yourself as first.
Accept your position and give the alternate option to the customers you will still earn million and make a position in the market. 
Avis (Car Rent company) has tried to call itself as number 1 and lost market and millions

Law of Duality 

Overall, a competition run between two companies e.g., Eveready vs Duracell, Kodak vs Fuji, Nike vs Reebok. Peoples only see competition between two companies one the old reliable and the second new startup. Do not try to replace any company position or it will be you that will be replaced. Instead of trying to replace position take your position on the ladder and give something new to the customers. 
Some examples of Duality running from the long term.
  • Coca Cola vs Pepsi
  • Marvels vs DC 
  • McDonald vs Burger King
  • Nike vs Reebok
""

Law of Opposite 

There is always some weakness of the large companies. You must find the weakness of that company and make it your strength. While representing yourself as an alternative give a strong point to the customer which is the weak point of your competition. Try to hit the weakness of your competition instead of replacing your competition. 
""

Law of Division

Any category can be divided into subcategories. You have always a chance to select subcategories and enter them into the prospect's mind. Due to growing of Technology and demand categories keep dividing and you always can select the sub-category.
Volkswagen leaves its subcategory of small cars to big cars to compete with General Motors and fall its market share from 67% to 4%.

Law of Perspective 

Peoples always make a perception of the product or company. You also need to make a similar perception to run your business successfully. If peoples have made a perception soft drink means Coca-Cola you cannot change that perception, instead, you make the same and provide an alternative of Coca-Cola to the customers. You may not generate revenue as number 1 but you can give tough competition to your competition. 
Sales and coupons can decrease your sale for the long term because peoples make the perception that this product deserves that price only. Coupons may give you short-term benefits but it not good for the long term. 
Have you ever seen giant car companies such as Mercedes, Royce Rolls provide seasonal sales?

Law of Line Extension

The Law of line extension is the most violating law. Every company is breaking this law and creating extensions of their products. You will have one product that will capture the market, do not use that name for your other products or you will lose the profit of your existing product. You can create multiple products but do not use the name of your existing excellent product. 
The question is if the line extension is bad for a company, why every company is creating a line extension. 
The answer is because of huge short-term profits and another reason is creating a new company or new product takes lots of effort and cost, so companies take shortcuts and took advantage of their existing excellent products. 
Here are some examples of excellent products that tried line extensions and failed.



Law of Sacrifice

If you want to be successful and want to be in the prospect's mind you must give up something. Eveready was the number 1 in the battery industry then technology change and Heavy-duty batteries start trending Eveready change its name to Eveready-Heavy-Duty battery, again technology change and Alkaline starts trending, and Eveready again change its name to Eveready-Alkaline-Battery. Duracell takes advantage and sticks to the single phrase 'Long-lasting-battery' and replaces the position of Eveready.
There are three types of sacrifice you must do to stay in the market.
  • The sacrifice of all: Everyone cannot be your customer so do not try to sell your product to everyone, be specific in your business to make a perception in the customer's mind. 
  • Target Market:  Target some specific group for sale, but available for everyone. Keep providing your service to everyone but target your marketing to a specific group
  • Constant Change: You should not change your strategy constantly stick to your idea and let customers make a perception for you.

Law of Attributes

You should not try to copy successful companies. Create your own attribute and do not copy attributes from successful companies. Do not ignore an attribute if your competitor has ignored it, that might not work for one type of customer but can be useful to some customers.
Here are some successful attributes
  • Coca Cola: Drink for Mature
  • Pepsi: Drink for Youngster
  • McDonald: Burger for kids
  • Burger King: Burger for young

Law of Candor

If you want to be successful, you must admit your negative and turn them into positive points. Negative points enter the prospect's mind easily.
Some examples of big companies used negative point and turn into positive
Avis Its okay to be no.2 
  • Smucker: With a name like Smucker, it must be good
  • 1970 VW: The 1970 VW will stay ugly for longer.
  • Joy Perfume: The most expensive perfume in the world.
Today communication is extremely grown, everyone communicating positively and trying to everything to everyone and company which will represent its negative points will enter in the prospect's mind early. 
Be careful while using this law. First, you must tell your negative and then immediately trigger the mind to your positive point, in this way we can trigger prospects mind.

Law of Singularity

History has shown that multiple strategies won't work at the same time. There is only one strategy that will generate most of your profit. Do some research and do some brainstorming to bring some unique phrase for your business and that phrase will enter the prospect's mind. The phrase should represent your business. 
Examples of phrases
  • Coca Cola: "The Real Thing"
  • General Motors: "The Big"

Law of Unpredictability 

No one can predict the future of marketing. What will work or not you cannot predict this? Do not consider the long-term plan, you don't know whether the plan will work or not. Instead, take short-term decisions and let the market and customers take it for the long term. Do not focus on profit at the initial stage, focus on product quality. Chase the trend and change according to trend. Change is difficult but this the only way to survive in the market. Do not put your ego in front of change or you will not survive for the long term. 
Marketing ideas should be flexible your company's product/service ideas should be static. 
IBM did not follow the trend and focus on products to generate profit when the personal computer was in trend. Instead of using a "personal computer" phrase, they could have used personal Mainframe to compete with Microsoft and Sun microsystem.

Law of Success

When companies get the success that gets ego, and they start thinking the marketing strategy they are using is best. The company never gets success because of the product but because of marketing effort and customer perception. Ego could be useful within your company but no use in the marketing. Remember customer perception made you successful, do not make negative perceptions in the customer's mind. The problem of the CEO is meeting what they do with the management, instead, they should investigate the marketing and change marketing strategies. 

Law of Failure

If we think some idea is best and it is not working and not entering the prospect's mind, we should drop that idea. In most companies, market decisions are not considered in action until it's not beneficial for the higher management. The biggest reason for Japan's success is the small decisions made by lower-level employees are considered as an action. If the marketing decision made by higher management and not getting the success you should ignore and oppose those ideas. 

Law of Hype 

To get success you do not need to publicize in media and press. Whenever some companies try to publicize to become famous, they all failed. Your hype cannot force anyone to buy your product, its product quality and marketing effort will do that. Real revolution starts under silence. Peoples automatically revolutionize an excellent product. 

Law of Acceleration 

Companies should be like an ocean. The hype of companies is like the fad of the ocean, they are more visible but stay for a small time, and companies publicize less is like the tide in the ocean, they appear less but stay for longer. Do not invest in publicizing the company, instead move slow and give great services to the customers.
Ninja Turtles was like a fad, it gains enormous success for brief time and disappears sooner, on other hand barbie doll is like a tide that appears less in the starting but stays for a long period 

Law of Resource

Your product will not get success without investment. Invest in marketing according to your budget. If you have no budget, you still can guide peoples and gain popularity by solving the problems of peoples. I have explained the value of helping in this article. 
There is some way to arrange money.
  • Marry the money
  • Divorce the money
  • Find money from home
  • Share your idea by franchising it.
These are the laws that are not going to change for long. Some of them might not be the best fit in your industry but some of them will help you grow your business. If any of the above laws will help you solve your business problem, I will consider this a success. 


Like or Dislike and comment if you have something about this blog. 

Thanks 
Keep growing.

128 Views
0 0
Posted Jul 10, 2021, 10:38:30 AM Posted By
marketing business growth