Hello readers,
Welcome to another Bizzbucket article.
In this article, we will see the amazing laws of marketing introduced by Jack Trout and Al Ries. As per the study conducted in the mid of 2016, it can be concluded that about 12% of the revenue of companies goes into marketing. Also, in 2018, about 630$ billion dollars was spent on marketing around the globe. All these facts point to one thing that a business never achieves its desired heights without marketing.
Even if your product is the best in the market no one will ever use it if you don’t market it!
While learning about marketing in this competitive era you should always keep a note of these marketing laws so that you should never violate them.
Marketing laws which I will be covering in this article is inspired by one of my favorite business book: The 22 immutable laws of marketing written by Jack Trout and Al Ries.
I will not be covering all 22 laws in this article but will try to introduce you to top laws that seem to be most suitable in this current business era.
Index:
Law Of Leader:
The Law of the leader says that it’s better to be a marketing leader than to compete with the competitors to prove product superiority.
Let’s say while driving every day on the way to your home you see cows passing by but you never notice them. But today you saw a purple cow walking away from your path, this view will definitely grab your attention than simply ignoring it like other days.
Similarly, your product should be unique or a leader in the market because then only you set the rules. As everyone knows who is the first president or who is the first man on the moon but nobody rarely remembers the second in any area.
Law Of Category:
As mentioned in the law of leader your product has to be a leader but that is not possible in every case, then you should aim to be a leader in a category.
Nike is not the leader in the shoe category but predominantly leads in the sports shoe category. Also, everyone knows the first man in space Yuri Gagarin but also remember the first Indian man who went to space Rakesh Sharma.
Law Of Mind:
Law of Mind says you need not be the first in the market to lead, but you should be the first name that comes to people’s minds when they need something.
Google is not the first search engine but Google is the first name that comes to mind while we think to search for information. Similarly, Maggi is the first brand that comes to our mind when we feel hungry!
Law Of Perception:
The law of perception says that sales are not the battle of your marketing and product but of perception, like how people perceive your product and service in their individual minds.
One can take the example of Apple where its founder Steve Jobs who is a marketing genius has created a high-quality perception of all the Apple products which leads to their high sales even today!
Law Of Focus:
As per the law of focus, your marketing and products should focus on a word or on a line that reminds people of you.
Like when you listen to 30 min or free, it reminds everyone of Dominos or Thanda Matlab? Cocacola reminds everyone of Coke!
These brands and their advertisement impact us in-depth which lead to the high brand authority of these companies.
Law Of Exclusivity:
As per the Law of exclusivity, you should not focus on the words or lines that your competitor are using, but you should focus on something different that they lack.
Like everyone knows Dominos focuses on tag line 30 minutes or free, at the time when they introduced these lines their competitor also thought of using the same concept of fast delivery but failed drastically.
By using the fast delivery tag line people subconsciously think of Dominos, not of their brand!
Law Of Ladder:
As per the author, one should market themselves according to their position in the market as if they know they stand second or third in the competition then they should market as per that.
Hertz and Avis are two American Car rental service companies but Hertz was leading the market and Avis seems like second on the ladder. So, when Avis advertises in the market they have used their position to market like We are number two, therefore, choose us as we try harder!
Law Of Duality:
The Law of duality says over a long period of time in the business world, majorly it becomes a battle between two big brands or companies.
Like in the cold drinks industry it is a battle between Coke Vs Pepsi or in the comic book series Marvel vs DC or Mc Donald’s vs Burger King in the burger market or Ola Vs Uber in ride-hailing in India or Flipkart vs Amazon in eCommerce in India.
One of the major reasons behind the law of duality is the human psychology of taking sides. As people love to take sides, they want to support one party among the two!
Law Of Opposite:
The Law of Opposite says one should market themselves opposite to their competitors like they should make their competitor’s strong point their weakness by taking an opposite stand.
Like when Dominos came up with 30 min or free tagline then their competitor should not use the same tagline but instead came up with something like we take more time but we offer high-quality pizzas!
Law of Perspective:
Law of Perspective talks about the effect of long term and short term marketing campaigns. Many a time when we see ads on TV and we see some randoms things happening in some advertisements which don’t make any sense to purchase of their product.
But on the other hand, you see some ads which advertise about a short period of sales and pressure us to buy within some period of time. Short-period ads definitely increase their sales in no time but many a time they struggle in the long term, as people always wait for sales to buy!
On the other hand, long-term advertisements are based on building trust for the brand which helps them to maintain sales for a longer period of time.
Also check this amazing book summary by One Percent Better for more insight of this book:
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