Marketing and its 22 laws for success (part 1)
Hi how about guys!
During the past few days, I have sought to learn as much as I can about Marketing, because as Sergio Fernandez comments in his conference for Master of Entrepreneurs, we usually spend up to 40% of our time as entrepreneurs, trying to sell products or services that fail to be sold, either when developing a website that does not generate results or brochures that do not impact people, and even, making calls to potential customers, without making a sale.
Of just over 4 million companies in Mexico during 2014, 97.6% are microenterprises and concentrate 75.4% of the total employed personnel. Many of them will unfortunately close before completing their 5th year of operations, affecting the economy and losing valuable job opportunities. And all this caused, by the ignorance of one of the essential tools when carrying out an enterprise, such as Marketing.
Therefore, in this first part (which we have divided into 2 so as not to make the entry so heavy to read), we will talk about 11 of The 22 immutable laws of Marketing proposed by Al Ries and Jack Trout in the book of the same name, with which, many of the big brands have achieved their commercial success. If you are one of those people who do not know how to sell, this entry is for you, because learning to apply these laws will make a difference in your business.
1_Ley of leadership
It is better to be the first, than to be the best
Many marketing campaigns fail to convince the audience that theirs is the best product. Therefore, better look for new market niches and launch an original product, in this way it will take a special place in the mind of the consumer and this place will be difficult to displace.
2_Ley of category
If you can't be first in a category, then generate one where you can be
This law, along with the previous one, proposes to appropriate a category with which people identify us.
3_Ley of the mind
It's better to be first in the consumer's mind than first at the point of sale
How many times have you noticed that you unintentionally hum a melody from some commercial? And it is that just the jingles (along with other tools) seek to anchor themselves in the minds of consumers, because the fact of invading the market with our product, does not guarantee that it will already be positioned in the minds of consumers.
4_Ley of perception
Marketing is not a battle of products, it is a battle of perceptions
Apple and Nike understand this law perfectly. They know that to the extent that we focus our efforts on changing the perceptions of potential customers towards a specific product, then we will have the success we expect. However, it is difficult to change people's perceptions, because most of the time, consumers take as absolute truths, ideas that many people know. You know, because "everybody knows."
5_Ley of concentration
The most powerful concept in marketing is to appropriate a word in the minds of consumers.
Making your audience identify your product with a single word will achieve an incredible effect. In other words, if we do not define a single market proposal or appropriate key words , in the end we will not be and will not mean anything to anyone.
6_Ley of Exclusivity
Two companies cannot have the same word in the minds of customers
Hence the importance of clearly defining the product or service we offer, because once appropriated a word and a category in the mind of the consumer, it will be difficult to change it for another. Therefore, it is convenient to focus on a very specific type of market to ensure that our marketing strategy generates the results we expect.
7_Ley of the Staircase
The strategy to be used will depend on the place it occupies in the "ladder"
When designing a marketing strategy, it is necessary to identify the place that is being occupied in the "ladder" of our segment as well as how it works. In this way, we will be able to benefit from the achievements (and mistakes) of whoever the leader is.
8_Ley of Duality
In the long run, each market becomes a two-way race.
When a new category appears on the market, many competitors usually appear. However, with the passage of time, this category is dominated by the strongest brands. Therefore, it is important to achieve a good position on this "ladder", at the risk of not appearing in it (Merger Law).
9_Ley of the opposite
If being the leader is not possible, your strategy will be determined by this
In the world there will be people who consume the products of the leader and those who do not, in the latter will be our potential market. For example, Coca Cola, established its marketing strategy to a type of people; while its competitor, Pepsi, to another guy. It is for this reason that our strategy will always be determined to be the alternative to the leader.
10_Ley of the division
Over time, a category will split to become two or more categories.
As time goes on, each category specializes in specific products. Therefore, in each subcategory there will be a leader and following the trend, we must seize this position or at least, respectingthe L ey of duality, we must recognize the place we occupy in the "ladder" to define our strategy.
11_Ley of Perspective
The effects of marketing are long-term
Hopefully, any marketing campaign will have effects in the short term. However, the real and most lasting effects will be in the long term. It is therefore important not to lose sight of the other laws of marketing, because depending on our forecast, they will give us favorable or contrary results to what we expected, but always in the long term.
This is just a small glimpse of what marketing means, however, knowing and learning to apply these laws will give very good results in our ventures. Stay tuned for the next blog post Exiles from Jupiter where we will see the remaining 11 laws of Marketing.
Did you know these laws? Do you agree with them?
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