ü The law of
Category: If you can’t be first
in a category, set up a new category you can be first in.
ü The law of the
Mind: It’s better to be
first in the mind than to be first in the marketplace. Being first in the mind
is everything in marketing.
ü The law of
Perception: Marketing is a battle
of perceptions, not products. Marketing is the process of dealing with
perceptions.
ü The law of
Focus: The most powerful
concept in marketing is owning a word in the prospect’s mind. Examples are
overnight, cavities, driving, safety, computer, cola, e.t.c. The most effective
words are simple and benefit-oriented. Focus on one word or benefit.
ü The law of
Exclusivity: Two companies cannot
own the same word in the prospect’s mind.
ü The law of the Ladder: The strategy to use depends on which rung you
occupy on the ladder.
ü The law of
Duality: In the long-run, every
market becomes a two-horse race.
ü The law of the
Opposite: If you are shooting
for second place, your strategy is determined by the leader.
ü The law of
Division: Over time, a category
will divide and become two or more categories. Categories are dividing, not
combining.
ü The law of Perspectives: Marketing effects take place over an extended
period of time. In many areas of life (spending money, taking drugs, having
sex), the long-time effects are often the opposite of the short-term effects.
So are marketing effects!
ü The law of Line
Extension: There’s an
irresistible pressure to extend the equity of the brand. In a narrow sense,
line extension means using the brand name of a successful product on another
new product you plan to introduce. When a company becomes incredibly
successful, it invariably plants the seeds for its future problems. In the long
run and in the presence of serious competition, line extensions almost never
work. Line extension may be a winner in the short-term, but it’s a loser in the
long run. It leads to oblivion.
ü The law of
Sacrifice: You have to give up
something to get something. The law of sacrifice is the opposite of the law of
line extension. The 3 sacrificial variables are product line, target market,
and constant change. Good things come to those who sacrifice!
ü The law of
Attributes: For every attribute,
there’s an opposite, effective attribute. It’s much better to search for an
opposite attribute that will allow you to play off against the leader.
ü The law of
Candor: When you admit a
negative, the prospect will give you a positive. The purpose of candor isn’t to
apologize but to set up a benefit that will convince your prospect. Ben Franklin
was right: Honesty is still the best policy.
ü The law of
Singularity: In each situation, only
one move will produce substantial results.
ü The law of
Unpredictability: Unless you write
your competitor’s plans, you can’t predict the future. Marketing plans based on
what will happen in the future are usually wrong. Even sophisticated computers
and meteorologists cannot predict the weather three days in advance. The good
news is that you can capitalize on trends. Remember Peter’s Law: The unexpected
always happens.
ü The law Of
Success: Success often leads to
arrogance and arrogance to failure.
ü The law of
Failure: Failure is to be
expected and accepted.
ü The law of Hype: The situation is often the opposite of the way it
appears in the press.
ü The law of
Acceleration: Successful programs are
not built on fads; they’re built on trends. A fad is a wave in the ocean, with
lots of hype. A trend is the tide, with little hype but powerful over the
long-term.
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