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Learn the key ideas of the book by A. Ries , J. Trout

The 22 Immutable Laws of Marketing

The 22 fundamental laws to create a successful marketing strategy

Everything changes very quickly and companies must deal with constantly evolving fashion trends, customers with ever-changing needs and increasingly tight budgets. Therefore, in today's scenario, it is essential for companies to discover and adopt the basic rules of marketing illustrated in The 22 Immutable Laws of Marketing by Al Ries and Jack Trout. This is an essential  guide for entrepreneurs and managers who wish to build a successful customer-centric marketing strategy.

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The 22 Immutable Laws of Marketing
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Many useful tips to:

  • Help managers and entrepreneurs discover the basics of marketing.
  • Discover how to avoid common marketing mistakes and make sure you can compete with the toughest and most difficult rivals.
  • Shift your focus from the product to the customer's mind.

The author of the book:

Al Ries founded Ries & Ries with his daughter Laura. It is one of the most important consulting companies in the world. In 2016 it was included in the Marketing Hall of Fame.  Al Ries has written numerous books and is involved in communication and strategic marketing.

Jack Trout is the owner of Trout & Partners, a prestigious consulting firm with offices around the world. Together with Al Ries, he invented the theory of positioning as a guide for marketing processes. He has worked with many large companies as a communications and strategic marketing consultant.

IDEA CHIAVE 1/24

Law nr. 1 - The law of leadership: "It's better to be first than it is to be better"

There is a common belief that having the best product is what matters the most. This is false. The prime objective is to create a category you can be first in,... It is much easier to get  into a prospect's mind  than to convince them you have a better product than the  one that got on the market first. This is because people tend to hold on to what they have. They hardly ever change.

Not only do you have to get there first, you must also get there on time.

The law of leadership can be applied to any brand, product or category. The first brand  tends to become a generic term for the product. For example, Kleenex for tissues, Velcro, Scotch, Scottex and so on.

The first brand to arrive on the market  becomes the leader,  and sales often reflect the order of entry into the market. Marketing is a battle of perceptions, and not a battle of products.

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The key ideas of "The 22 Immutable Laws of Marketing"

01.
Law nr. 1 - The law of leadership: "It's better to be first than it is to be better"
02.
Law nr. 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"
03.
Law nr. 3 - The law of the mind: "It's better to be first in the mind than to be first in the marketplace"
04.
Law nr. 4 - The law of perception: "Marketing is a battle of perceptions, not of products"
05.
Law nr. 5 - The law of focus: "The most powerful concept in marketing is owning a word in the prospect's mind"
06.
Law nr. 6 - The law of exclusivity: "Two companies cannot own the same word in the prospect's mind"
07.
Law nr. 7 - The law of the ladder: "The strategy to use depends on which rung you occupy on the ladder"
08.
Law nr. 8 - The law of duality: "In the long run, every market becomes a two-horse race"
09.
Law nr. 9 - The law of opposites: "If you are shooting for second place, your strategy is determined by the leader"
10.
Law nr. 10 - The law of division: "Over time, a category will divide and become two or more categories"
11.
Law nr. 11 - The law of perspective: "Marketing effects take place over an extended period of time"
12.
Law nr. 12 - The law of line extension: "There is an irresistible pressure to expand the equity of the brand"
13.
Law nr. 13 - The law of sacrifice: "You have to give up something in order to get something"
14.
Law nr. 14 - The law of attributes: "For every attribute, there is an opposite, effective attribute"
15.
Law nr. 15 - The law of candor: "When you admit a negative, the prospect will give you a positive"
16.
Law nr. 16 - The law of singularity: "In every situation, only one move will produce substantial results"
17.
Law nr. 17 - The law of unpredictability: "Unless you write your competitors' plans, you can't predict the future"
18.
Law nr. 18 - The law of success: "Success often leads to arrogance and arrogance to failure"
19.
Law nr. 19 - The law of failure: "Failure is to be expected and accepted"
20.
Law nr. 20 - The law of hype: "The situation is often the opposite of the way it appears in the press"
21.
Law nr. 21 - The law of acceleration: "Successful programs are not built on fads, they are built on trends"
22.
Law nr. 22 - The law of resources: "Without adequate funding, an idea won't get off the ground"
23.
Quotes
24.
Take-home message
 
 
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