The 22 Immutable Laws of Marketing by Al Reis & Jack Trout

Rating:

/10

Big Ideas

The most interesting idea in Reis & Trout's laws of marketing is the idea that fundamentally marketing is all about the perceptions of a prospect and very little with the actual quality of features of the product. The way a product is positioned relative to other products in the market and relative to other competitors is incredibly important.

The most successful marketing will be able to position a product so that's perceived as new and unique and by prospects. The other big idea is the notion that marketers must remain disciplined in their focus on market niches and align their product, positioning and branding to those specific niches. The more business try to sell everything to everyone the less effective they'll be.

Notes

1. Law of Leadership

"It's better to be first than it is to be better"
"The basic issue in marketing is creating a category you can be first in . It's the law of leadership: It's better to be first than it is to be better. It's much easier to get into the mind first than to try to convince someone you have a better produce than the one that did get there first."
"Regardless of reality, people perceive the first product into the mind as superior. Marketing is a battle of perceptions, not products."

2. The Law of the Category

If you can't be first in a category, set up a new category you can be first in.
"Everyone is interested in what's new. Few people are interested in what's better."

3. The Law of the Mind

It's better to be first in the mind than it is to be first in the marketplace
"The law of the mind follows from the law of perception. If marketing is the battle of perception, not product, then the mind takes precedence over the marketplace."
"The single most wasteful thing you can do in marketing is to try to change a mind."

4. The Law of Perception

Marketing is not a battle of products, it's a battle of perception.
"All that exists in the world of marketing are perceptions in the minds of the customer or prospect. The perception is the reality. Everything else is an illusion."
"Only by studying how perceptions are formed in the mind and focusing your marketing programs on those perceptions can you overcome your basically incorrect marketing instincts."

5. The Law of Focus

The most powerful concept in marketing is owning a word in the prospects mind.
"The essence of marketing is narrowing the focus. You become stronger when you reduce the scope of your operations. You can't stand for something if you chase after everything. "

6. The Law of Exclusivity

Two companies cannot own the same word in the prospects mind.

7. The Law of the Ladder

The strategy to use depends on which rung you occupy on the ladder.
"Before starting any marketing program, ask yourself the following questions: Where are we on the ladder in the prospects mind? ... Then make sure your program deals realistically with your position on the ladder."

8. The Law of Duality

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

9. The Law of the Opposite

If you're shooting for second place, your strategy is determined by the leader.
"You must discover the essence of the leader and then present the prospect with the opposite."
"When you look at customers in a given product category, there seem to be two kinds of people. There are those who want to buy from the leader and there are those who don't want to buy from the leader."

10. The Law of Division

Over time, a category will divide and become two or more categories.
"Companies make a mistake when they try to take a well-known brand name in one category and use the same brand name in another category"

11. The Law of Perspective

Marketing effects take place over an extended period of time.
"There is no evidence that couponing increases sales in the long run."

12. The Law of Line Extension

There's an irresistible pressure to extend the equity of a brand.
"Less is more. If you want to be successful today, you have to narrow the focus in order to build a position in the prospects mind."

13. The Law of Sacrifice

You have to give up something in order to get something.
"There are three things to sacrifice: product line, target market, and constant change."
"Marketing is a game of mental warfare. It's a battle of perceptions, not products or services."

14. The Law of Attributes

For every attribute, there is an opposite, effective attribute.
"It's much better to search for an opposite attribute that will allow you to play off against the leader."

15. The Law of Candor

When you admit a negative, the prospect will give you a positive.
"One of the most effective ways to get into a prospect's mind is to first admit a negative and then twist it into a positive."
"You have to prove a positive statement to the prospects satisfaction. No proof is needed for a negative statement."

16. The Law of Singularity

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

17. The Law of Unpredictability

Unless you write your competitor's plans, you can't predict the future
"A company must be flexible enough to attack itself with a new idea. Change isn't easy, but it's the only way to cope with an unpredictable future."

17. The Law of Success

Success often leads to arrogance, and arrogance to failure.
"Ego is the enemy of marketing. Objectivity is what's needed. When people become successful, they tend to become less objective. They often substitute their own judgement for what the market wants."

18. The Law of Failure

Failure is to be expected and accepted.
"Too many companies try to fix things rather than drop things."
"Admitting a mistake and not doing anything about it is bad for your career. A better strategy is to recognize failure early and cut your losses."

20. The of Law Hype

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

21. The Law of Acceleration

Successful programs are not built on fads, they're built on trends.
"Like a wave, a fad is very visible, but it goes up and down in a big hurry. Like the tide, a trend is almost in-visible, but it;'s very powerful over the long term."

22. The Law of Resources

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

‍