Tuesday, January 29, 2008

The 22 Immutable Laws of Marketing

The following rules were taken from The 22 Immutable Laws of Marketing, by Jack Trout and Al Ries. The book provides time-proven marketing advice and is a must read for any marketing executive.

What are your thoughts? (ie, is it really better to be first, than it is to be better?)

1. It is better to be first than it is to be better.
2. If you can't be first in a category, set up a new category you can be first in.
3. It is better to be first in the mind than to be first in the marketplace.
4. Marketing is not a battle of products, it's a battle of perceptions.
5. The most powerful concept in marketing is owning a word in the prospect's mind.
6. Two companies cannot own the same word in the prospect's mind.
7. The strategy to use depends on which rung you occupy on the ladder.
8. In the long run, every market becomes a two horse race.
9. If you are shooting for second place, your strategy is determined by the leader.
10. Over time, a category will divide and become two or more categories.
11. Marketing effects take place over an extended period of time.
12. There is an irresistible pressure to extend the equity of the brand.
13. You have to give up something to get something.
14. For every attribute, there is an opposite, effective attribute.
15. When you admit a negative, the prospect will give you a positive.
16. In each situation, only one move will produce substantial results.
17. Unless you write your competitor's plans, you can't predict the future.
18. Success often leads to arrogance, and arrogance to failure.
19. Failure is to be expected and accepted.
20. The situation is often the opposite of the way it appears in the press.
21. Successful programs are not built on fads, they're built on trends.
22. Without adequate funding, an idea won't get off the ground.

4 comments:

Sapna Satagopan said...

"The most powerful concept in marketing is owning a word in the prospect's mind."

I like that one, though I think its very difficult to achieve. 'Dude' and Dell went together for a long time, I believe. and now Bud Beer guys are trying to make a comeback with the same word. word churn? seems possible. I love the 'phrases' and brand correlation as well,though 'apply directly to forehead' head-on commercials are hardly a stellar example there. I love the idea of owning a word as part of marketing, but its an incredibly long-term effort that not many companies willingly invest into.

Gary Lumsden said...

AREA MARKETING ASSOCIATES is a United States registered trademark owned by Area Marketing Associates, Inc. (a Florida corporation). Your potential use of our trademark may constitue trademark infringement. Your are advised to prevent any future use or reference to our trademark at once.

Gary Lumsden said...

AREA MARKETING ASSOCIATES is a United States registered trademark owned by Area Marketing Associates, Inc. (a Florida corporation). Your potential use of our trademark may constitue trademark infringement. Your are advised to prevent any future use or reference to our trademark at once.

Anonymous said...

I should email my pal about it.