Are one or more of your products just not breaking out? Would you like to create an edge for a new product? “The 22 Immutable Laws of Marketing” by Al Ries and Jack Trout may be able to help you. They offer real-world examples (albeit old: this book was published in 1993) that you may not find in marketing textbooks.
In this video I review three of their principles (laws). In my mind, Laws 1 and 2 are nearly indistinguishable, but Ries and Trout treat them separately.
1. Law #1: Law of Leadership. “The basic issue in marketing is creating a category you can be first in. [See Law #2.] It’s the law of leadership: It’s better to be first than it is to be better.”
Do you recall who was the first person to fly solo across the Atlantic Ocean? How about the second? (Bert Hinkler, who flew faster and more efficiently.)
“The leading brand in any category is almost always the first brand into the prospect’s mind. Hertz in rent-a-cars. IBM in computers. Coca-Cola in cola.”
2. Law #2: The Law of Category. Returning to the aviators, we learn that Amelia Earhart was the third person to fly across the Atlantic. In so doing, she carved out a category, which is why we remember her today.
The book talks about Miller Lite being the first domestic light beer, and Amstel Light grabbing the top spot in imported light beer. It may be daring, but perhaps your new product will create its own category. Recall what Steve Jobs did with Apple.
3. Law #13: The Law of Sacrifice. While your product or company may be able to perform many functions, consider focusing on one service. In essence you sacrifice the other services to stand out in one category.
The authors use the example of Federal Express. At one time, the leader in delivery firms was Emery Air Freight. Fed Ex decided to zero in on overnight delivery and the rest, as they say, is history.
Can you think of one service you could concentrate on that would set your firm apart?
I suggest you pick up a copy of “22 Immutable Laws of Marketing.” I think you’ll find the information and advice that Al Ries and Jack Trout provide invaluable.
For additional suggestions to help you build your business, see “Use business networking opportunities to build your business” and “Powerful open-ended sales question helps you offer solution.”
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