Lesson 1: Being First
When launching a new product or service every company believes that all they require is a well designed, well-executed, and well-financed marketing program. They aren’t wrong in their thinking. A marketing program could be the reason behind the fall and the rise of a company. Having a good marketing program is, therefore, a necessity.
The marketplace runs on cutthroat competition. Your competitors would be quick to exploit your mistakes. This will never change. What can change is your marketing program. To avoid fatal marketing mistakes, writers Al Ries and Jack trout have compiled a list of 22 immutable laws of marketing for you.
Before moving towards the laws you need to take a step towards opening your mind to the possibility of immutable laws that must be followed religiously.
Law 1 – The Law of Leadership
Focus your energies towards being the first rather than the better in any category.
It is far easier to introduce a new product rather than convince someone that you are providing them with a better product.
Your products often become memorable for having been introduced first. Moreover, even if the second introduced product is better, the customers would perceive the first as superior. This is because people have a habit of sticking with what they already have.
By being the first in a category, you face less competition which allows you enough time to establish yourself.
However, not every first venture would become successful. Timing is crucial here.
Law 2 – The Law of Category
Following the first law, this law encourages you to set up a new category where your product can excel. If you cannot set up a new category, then find an existing category where your product could be first.
This is because people are always going to be interested in what is new.
During promotions, focus on the category and not the product. Since your product is new you do not have much competition there. Let your customers know why they need the category you are offering them.
Lesson 2: Marketing is About the Mind
Law 3 – The Law of the Mind
This law modifies the law of leadership. It runs on the premise that marketing is a battle of perceptions and not products. In other words, in the marketplace, the prospect’s mind hold’s more power than your product.
This law then suggests that it is better to be first in the mind rather than the marketplace<span style="font-weight:
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