The 22 Immutable Laws of Marketing
Success is neither magical nor mysterious. Success is the natural consequence of consistently applying the basic fundamentals. – Jim Rohn
Get the fundamentals down and the level of everything you do will rise.”
– Michael Jordan
Fundamentals is everything especially in marketing. In today’s fast moving, ever-evolving platforms, screens, media consumption and placements, advertisers have to keep up with change. Facebook possibly won’t be the best advertising platform in the next five years anymore. There is one guaranteed way to be industry-shifting safe, and that’s knowing the fundamentals. One thousand loophole tricks and “hacks” isn’t worth more than a solid understanding of marketing fundamentals. Fundamentals will keep you ahead of the game.
As a marketer, what are your fundamentals? Marketing consultants Al Ries and Jack Trout wrote out their key 22 laws of marketing every marketer should be aware of. A few of their examples use older examples of businesses, but are true nonetheless.
From the Law of Leadership, to The Law of the Category, to The Law of the Mind, these valuable insights stand the test of time and present a clear path for successful campaigns.
Here are 3 lessons from The 22 Immutable Laws of Marketing:
- If you can’t be first, be first in peoples’ heads.
- Create your own category to avoid competition.
- Remember that each product comes with an opportunity cost.
”When you launch a new product, the first question to ask yourself is not “How is this new product better than the competition?” but “First what?” In other words, what category is this new product first in?…This is counter to classic marketing thinking, which is brand oriented: How do I get people to prefer my brand? Forget the brand. Think categories. Prospects are on the defensive when it comes to brands. Everyone talks about why their brand is better. But prospects have an open mind when it comes to categories. Everyone is interested in what’s new. Few people are interested in what’s better.When you’re the first in a new category, promote the category. In essence, you have no competition.” – Al Ries