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In the long run there will always be 2 big brands leading the industry, if there are more, they will have a very small market share.ĩ. You must accept your place on the ladder, and continue marketing efforts from there.Ĩ. Every category has a brand ladder in prospects minds, for example in rentacars it used to be 1.Hertz 2.Avis 3.National. Yet many companies make the mistake of trying to go for the leaders word, and end up with nothing.ħ. Two companies can’t own the same word in the mind of a prospect. One of the strongest things a Company could do is own a Word in the prospects mind. Many researches that CocaCola conducted proved it was the worst tasting Cola of all competitors, yet people choose CocaCola over and over again.ĥ. Marketing is a battle of Perceptions (what prospects believe is true), not Product quality. Some Brands come up with a new product first, but lose the battle of getting first into the prospect’s mind to the competition.Ĥ. Better be first in the Mind than first in the marketplace. It may take some time, but trying to beat the leader would take a lot longer, and is highly unlikely to pull off.ģ. Look for a sub-category you could be first in and promote it. Didn’t make it to the top first? Doesn’t mean you’re doomed. For example what do you think is the leading University in the US today?Ģ. The Brand that is first to market is most often the one that takes the leadership long afterwards. The Great 22 Immutable Laws of Marketing Book Reviewĩ hours ago 1. Each segment has its own reason for existence. Each segment is a separate, distinct entity. Over time, a category will divide and become two or more categories. Wherever the leader is strong, there is an opportunity for a would-be №2 to turn the tables.ġ0. If you’re shooting for second place, your strategy is determined by the leader. Gradually, the ladder becomes a two-rung affair.ĩ. Early on, a new category is a ladder of many rungs. In the long run, every market becomes a two-horse race. There is a hierarchy in the mind that prospects use in making decisions.Ĩ. The strategy to use depends on which rung you occupy on the ladder. It’s wrong to think that if you spend enough money, you can own the idea.ħ. Two companies cannot own the same word in the prospect’s mind. Not a complicated word, or an invented word.Ħ.
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The most powerful concept in marketing is owning a word in the prospect’s mind. Marketing is not a battle of products, it’s a battle of perception. The law of the mind modifies the law of leadership.Ĥ. It’s better to be first in the mind than it is to be first in the marketplace.
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Example: What’s the name of the third person to fly the Atlantic Ocean solo?ģ. If you can’t be first in a category, set up a new category you can be first in. The basic issue in marketing is not convincing prospects that you have a better product or service.Ģ. It’s better to be first than it is to be better.
THE 22 IMMUTABLE LAWS OF MARKETING ONLINE PDF
Posted in: The 50th law pdf download Show details A category starts off as a single entity. Summary: Over time, a category will divide and become two or more categories. A company should leverage the leader’s strength into a weakness.ġ0. Summary: If you’re shooting for second place, your strategy is determined by the leader. Summary: In the long run, every market becomes a two-horse race. There’s a hierarchy in the mind that prospects use in making decisions.Ĩ. Summary: The strategy you use depends on which rung you occupy on the ladder. When a competitor owns a word or position in the prospect’s mind, it is futile to attempt to own the same word.ħ. Summary: Two companies cannot own the same word in the prospect’s mind. A company can become incredibly successful if it can find a way to own a word in the mind of the prospect.Ħ. Summary: The most powerful concept in marketing is owning a word in the prospect’s mind. All that exists in the world of marketing are perceptions in the minds of the customer or prospect.ĥ. Summary: Marketing is not a battle of products, it’s a battle of perception. Being first in the marketplace is important only to the extent that it allows you to get in the mind first.Ĥ. Summary: It’s better to be first in the mind than to be first in the marketplace. If you didn’t get into the prospect’s mind first, don’t give up hope.ģ. Summary: If you can’t be first in a category, set up a new category you can be first in. It’s much easier to get into the mind first than to try to convince someone you have a better product than the one that did get there first.Ģ. Summary: It’s better to be first than it is better.