Leading Greats #35

I am sure you have heard the concept that everyone has a Personal Brand these days. 

Everyone is marketing themselves

“Creativity is not a talent. It is a way of operating.”

-John Cleese

The 22 Immutable Laws of Marketing

These were published in 1993 in a book of the same title by Al Ries & Jack Trout, also authors of the bestselling book Positioning.

I will review The 22 Immutable Laws of Marketing.

1. The Law of Leadership

It is better to be first than it is to be better.

Ex: Who was the first person to fly the Atlantic Ocean solo?

Charles Lindbergh.

Who was second, not so easy to recall.

2. The Law of Category

If you can't be first in a category, set up a new category you can be first in.

Who was the first -female- to fly the Atlantic Ocean solo?

Amelia Earhart

3. The Law of the Mind

It's better to be first in the mind than to be first in the marketplace.

Personal computer: MITS Altair 8800 in 1974 vs. Apple in 1976.

We easily remember Apple.

4. The Law of Perception

Marketing is not a battle of products; it's a battle of perceptions.

There was a time when Japanese cars were considered better quality than American cars.

Audi was riddled with problems for a while, then they began to run ads rating Audi ahead of Mercedes and BMW.

Now, this message was a perception of improvement, whether true or not.

5. The Law of Focus

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

Ex: Crest, cavities. FedEx, overnight.

6. The Law of Exclusivity

Two companies cannot own the same word in the prospect's mind.

Volvo owns "safety."

Other car brands have tried but could not gain access to the prospect's mind with "safety."

7. The Law of the Ladder

The strategy you use depends on which rung you occupy on the ladder.

Hertz | Avis | National.

For each category, there is a product ladder in the mind.

Avis comes in at #2; "they try harder" is their position.

8. The Law of Duality

In the long run, every market becomes a two-horse race.

Successful marketers concentrate on the top two rungs

Coke | Pepsi | Royal who?

9. The Law of the Opposite

If you're shooting for second place, your strategy is determined by the leader. 

When looking at customers in a given product category, there are those who want to buy from the leader.

And there are those who do not want to buy from the leader.

Ex: Coke vs. Pepsi

10. The Law of Division

Over time, a category will divide and become two or more categories.

Computers: Mainframes vs. Minis, and further division under these.

11. The Law of Perspective

Marketing effects take place over an extended period of time.

Years.

It looks easy, but marketing is not a game for amateurs.

12. The Law of Line Extension

There's an irresistible pressure to extend the equity of the brand.

Coke, Diet Coke, Cherry Coke, Diet Cherry Coke.

One day a company is tightly focused on a single product that is highly profitable.

The next day the same company is spread thin over many products and is losing money.

13. The Law of Sacrifice

You have to give up something in order to get something.

If you try to follow the twists and turns of the market, you are bound to wind up off the road.

The best way to maintain a consistent position is not to change it in the first place.

14. The Law of Attributes

For every attribute, there is an opposite, effective attribute.

Toothpaste:

Crest-whitens, Aim-tastes good, Ultrabrite-whitens, Close-up - freshens.

15. The Law of Candor

When you admit a negative, the prospect will give you a positive.

Every negative statement you make about yourself is instantly accepted as truth.

Positives in ads are looked at as dubious.

Listerine. The taste you hate twice a day.

Joy. The most expensive perfume in the world.

16. The Law of Singularity

In each situation, only one move will produce substantial results.

History teaches that the only thing that works in marketing is the single, bold stroke.

Only one move in any given situation will produce substantial results - this requires being involved in the process.

17. The Law of Unpredictability

Unless you write your competitors' plans, you can't predict the future.

There is a difference between "predicting" the future and "taking a chance on the future."

Orville Redenbacher's Gourmet Popping Corn took a chance that people would pay twice as much for high-end popcorn. 

In today's affluent society, not a bad risk.

18. The Law of Success

Success often leads to arrogance and arrogance to failure.

Ego is the enemy of successful marketing.

Objectivity is what is needed.

Small companies are mentally closer to the front than big companies.

They often have not been tainted by the law of success.

Busy CEOs often delegate the marketing function. That is a mistake.

19. The Law of Failure

Failure is to be expected and accepted.

Marketing decisions are often made first with the decision maker's career in mind and second with the impact of the competition or enemy in mind.

20. The Law of Hype

The situation is often the opposite of the way it appears in the press.

When you need the hype, it usually means you're in trouble.

21. The Law of Acceleration

Successful programs are not built on fads, they're built on trends.

A fad is a wave in the ocean, and a trend is the tide.

A fad gets a lot of hype, and a trend gets very little.

The most profitable thing to ride in marketing is a long-term trend.

22. The Law of Resources

Without adequate funding, an idea won't get off the ground.

You'll get further with a mediocre idea and a million dollars than with a great idea alone.

Money makes the marketing world go round. 

The more successful marketers front-load their investment - not taking profit early on but plowing all earnings back into marketing.

These laws of marketing are nothing new.

And yet they are so applicable today. 

There is plenty to consider with marketing.

Perhaps you got some thoughts here of where you can apply these laws of marketing - in your personal brand, your job, your company, wherever.

Possibly even in building relationships to get more of what you want in life!

Enjoy!!

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Thank YOU for reading!

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Til next time - Keep it Great,

-Ronnie

• Leadership Catalyst & Transformational Coach

• Leader | Advisor | Speaker | Writer

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