Shot #67: Everything in this world is governed by laws and so is Marketing

Hi,

This is Luv and here’s your weekly marketing shot :)

(Delivered every Tuesday)

Today’s shot is inspired by the book- 22 Immutable Laws of Marketing by Al Ries and Jack Trout.

This is one of my favorite books that I keep re-reading every few months.

According to the authors, everything in this world is governed by laws and so is marketing.

As a marketer or a founder, it’s important for you to know about these laws.

In today’s shot, I’m sharing my favorite ones from the book.

If you wish to learn about all the marketing laws, I highly recommend this book.

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(#collab)

Let’s start:-

The Law of Category

If you can’t be the first in the category, create a new category and be the first in it. 

When you create a new category, you essentially have zero competition. 

Most of the ideas you think aren't unique or have been done several times before. That’s ok. You can still create a new sub-category and rule it!

For example, Firstcry and Amazon, both are e-commerce marketplaces. The business is essentially the same but when you see the category they operate in, you will find Amazon is an everything store but Firstcry is a baby store. You will think of checking Firstcry before Amazon for buying stuff for your babies. That’s because Firstcry was the first to create an exclusive marketplace for baby products and became the leader in that category

The Law of Focus

This one’s hard to crack. It takes years and a lot of money to get this right. 

The most powerful concept in marketing is owning a “word” in your prospect’s mind.

If I were to ask you the following:

What’s the first company or brand that comes to your mind when I say the word “search”

100% of you reading this newsletter would say Google. This is one company that has used this law for most of its products.

The Law of Perspective

According to this law, your marketing activities should be designed keeping in mind the long term perspective of your customers. For example, sale offers. If you run a sale on your products in the first week of every month to achieve your short term sales goal, your customer’s perspective will change and they’ll stop buying from you at regular price. They will wait for the sale.

The Law of Attribute

No two companies can own the same attribute in the mind of the consumers. Let me clarify this statement with an example. Consider the toothpaste brands.

For sensitivity protection, you have Sensodine

For solid gums, you have Colgate

See, how they are marketing on different attributes of the toothpaste.

fin.

(If you wish to read previous shots, check here- MarketingShots)

Thanks,

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