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LAWS of MARKETING 22 immutable Year 2014

22 immutable laws of marketing 2014 by Suhag Mistry

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100% working Marketing techniques for businesses. Use mentioned rules and develop great marketing plan. And YES it still works. I use it for developing Marketing plan for my consultant as a Business consultant.

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Page 1: 22 immutable laws of marketing 2014 by Suhag Mistry

LAWS of MARKETING22immutable

Year 2014

Page 2: 22 immutable laws of marketing 2014 by Suhag Mistry

Objective

• To share 40 years of marketing expertise OF Jack trout and Al ries through 22 immutable laws of Marketing that govern the world of marketing.

• Strengthen our knowledge about these Rules.

• Help our customers for taking advantage of it.

Page 3: 22 immutable laws of marketing 2014 by Suhag Mistry

•Can be used as a 'diagnostic check' of a company's marketing plan for a given product or service•To ensure that all possible perspectives and issues have been considered. •The second use is a reminder of the importance of the perception of your service or product in the mind of your customer.

How we can use it.

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What is Marketing?

• Marketing is the process of creating or directing an organization to be successful in selling a product or service that a particular set of people not only desire, but are willing to buy

• It is also concerned with anticipating the customers' future needs and wants

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The Goal of Marketing

• To build & maintain a preference for a company and it’s products over those of it’s competitors, within the target markets

• To build mutually profitable and sustainable relationships with its customers

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It’s better to be first, than it is to be better

LEADERSHIPTHE LAW OF#1

Page 7: 22 immutable laws of marketing 2014 by Suhag Mistry

•Who was the 1st President of India?

LEADERSHIPTHE LAW OF

#1

Page 8: 22 immutable laws of marketing 2014 by Suhag Mistry

LEADERSHIPTHE LAW OF

#1

•Dr. Rajendra Prasad.

Who was the 2nd President

Sarvepalli Radhakrishnan

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Marketing is a Battle of Perceptions

• In Marketing, the true issue is not convincing prospects that you have a better product or service

• The issue is creating a category you can be first in

– It’s much easier to get into the mind first than to try to convince someone that you have a better product.

– Category Known for product name?• Colegate, Xerox, etc..

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If you can’t be first in a category. Set up a new category to be first in.

CATEGORYTHE LAW OF#2

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• People are interested in what’s new & first in the market; few in what’s better

• Before launching the product into the market

CATEGORYTHE LAW OF#2

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• No competition in the ‘new category’ market. So, when you first in a new category– promote the category

• Dell, in the early 80’s, • The idea/category it successfully promoted:

Directly- Sold-to-Consumer PCs• Today, Dell’s revenues are over $57 billion

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If better to be first In the mind, than to be first in the marketplace

MINDTHE LAW

OF #3

Page 14: 22 immutable laws of marketing 2014 by Suhag Mistry

• If you are not first in the marketplace but first in the prospects’ minds (through a good marketing campaign), you are sure to have a majority share in the market

MINDTHE LAW

OF #3

Page 15: 22 immutable laws of marketing 2014 by Suhag Mistry

Marketing is not a battle of products. It’s a battle of perception.

PERCEPTIONTHE LAW OF#4

Page 16: 22 immutable laws of marketing 2014 by Suhag Mistry

The Case of Japanese Cars - Honda, Toyota and Nissan

In USA the largest selling Japanese Cars are

In Japan the largest selling Japanese Cars are

Page 17: 22 immutable laws of marketing 2014 by Suhag Mistry

PERCEPTIONTHE LAW OF#4

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The most powerful concept in marketing is owning a WORD.

FOCUSTHE LAW

OF #3

Page 19: 22 immutable laws of marketing 2014 by Suhag Mistry

FOCUSTHE LAW

OF #3

= Safety = Fast Food

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‘We Need an IBM Machine’ Word: Computers

‘We Deliver your Pizza in 30 Minutes or it’s Free’

Word/concept: Home-delivery

‘When it absolutely, positively has to be there overnight’

Word: Overnight

‘The taste of a new generation’Word: Youth

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Two companies cannot own the same word in the prospects mind.EXCLUSIVITYTHE LAW OF

#6

Burger King.Mc Donald’s

Page 22: 22 immutable laws of marketing 2014 by Suhag Mistry

The strategy to use depends of which rung of the ladder your on.LADDER

THE LAW

OF #7

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LADDERTHE LAW OF

#7

Page 24: 22 immutable laws of marketing 2014 by Suhag Mistry

In the end, every market becomes a two horse race.

DUALITY THE LAW OF

#8

Page 25: 22 immutable laws of marketing 2014 by Suhag Mistry

• Name two computer operating systems.

• Name most two mobile brands (Reputation)

Page 26: 22 immutable laws of marketing 2014 by Suhag Mistry

If you’re shooting for 2nd place, then your strategy is determined by the leader.

OPPOSITE THE LAW OF

#9

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• Who want to buy & who don’t want to.

• Pepsi positioned itself against the leader. If old people drink Coke, the young drink Pepsi, there’s nobody left to take the alternatives to

the Cola Drinks

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Over time, a category will divide into two or more categories.DIVISIONTHE LAW OF

#10

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DIVISIONTHE LAW OF

#10

SUPER COMPUTER

MAINFRAME

MINI

DESKTOP

WORKSTATION

LAPTOP

TABLETS

NETBOOK

Page 30: 22 immutable laws of marketing 2014 by Suhag Mistry

DIVISIONTHE LAW OF

#10

Other Laws still apply

Page 31: 22 immutable laws of marketing 2014 by Suhag Mistry

Marketing effects takes place over a long period of time.PERSPECTIVETHE LAW OF

#11

Wall mart

Page 32: 22 immutable laws of marketing 2014 by Suhag Mistry

• Sale: Opposite effect.– Low price for sale time.– High price during non sale period.

• Wall Mart: Always law price.

Page 33: 22 immutable laws of marketing 2014 by Suhag Mistry

There is pressure to extend the equity of the brand. LINE EXTENSIONTHE LAW OF

#12

Page 34: 22 immutable laws of marketing 2014 by Suhag Mistry

LINE EXTENSIONTHE LAW OF

#12

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LINE EXTENSIONTHE LAW OF

#12

The Top Ten Best Selling Sodas :1. Coke Classic 2. Diet coke3. Pepsi4. Mountain Dew (Pepsi)5. Dr. Pepper 6. Sprite (Coke)7. Diet Pepsi 8. Diet Mountain Dew (Pepsi)9. Fanta (Coke)10. Diet Dr. Pepper

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You have to give up something in order to gain something.Product line, Target Market & Constant Change

SACRIFICE THE LAW OF

#13

Page 37: 22 immutable laws of marketing 2014 by Suhag Mistry

The Law of SacrificeYou give to give up something

in order to get something

3 things to sacrifice - product line, target market & constant change

Product line: if you want to be successful, reduce your

product line, not expand it.

Some Examples

• Amul: Milk based products.

• Gopal Locho: Master of locho Items./Juice

Page 38: 22 immutable laws of marketing 2014 by Suhag Mistry

Target market

• You don’t have to appeal to everyone.

• Age, Gender, Area, Income should be considered.

(Furniture Mart)

The Law of Sacrifice

Page 39: 22 immutable laws of marketing 2014 by Suhag Mistry

Constant Change:

• You don’t have to change your strategy every year

and review time to time.

• Mcdonald in USA still sells the same burger items it

used to sell decades ago, at very low prices.

• Big bazaar: Sabse sasta (Sabse saste 3 din)

The Law of Sacrifice

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For every attribute, there is an opposite effective attribute.ATTRIBUTES THE LAW OF

#14

Page 41: 22 immutable laws of marketing 2014 by Suhag Mistry

The Law of AttributesFor every attribute, there is an opposite, effective

attribute

• Law 6 said that you cant own the same word or position that your Competitor is owning. • Find your own word to own, seek out another attribute• If you have to succeed, you must have an idea/attribute To focus your marketing efforts around Above 45 Size trousers at Chowk bazaar.

Crest Ultra BriteAim Close-up

Page 42: 22 immutable laws of marketing 2014 by Suhag Mistry

The Law of Attributes

• All attributes are not created equal. Some are more important to customers than others. • Try and own the most important one• Eg: Toothpaste

Fights Cavities

Tastes Good

Whitens Teeth

Freshens breathFor sensitive Teeth

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When you admit a negative, the prospect gives you a positive.

CANDOR THE LAW OF

#15

Page 44: 22 immutable laws of marketing 2014 by Suhag Mistry

• "Joy. The most expensive perfume in the world.“

• Listerine: the taste you hate twice a day.

• First and foremost, candor is very disarming. Every negative statement you make about yourself is instantly accepted as truth.

• Positive statements, on the other hand, are looked at as dubious at best. Especially in an advertisement.

The Law of CandorWhen you admit a negative, the prospect gives you a positive

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In each situation, only one move will produce a significant results.SINGULARITY THE LAW OF

#16

Page 46: 22 immutable laws of marketing 2014 by Suhag Mistry

The Law of SingularityIn each situation, only one move will produce substantial results

• The only thing that works in marketing is the single, bold move.

• The success of our marketing campaigns is defined by the best idea on our list, not the length of that list. 

• Nonetheless, we continue to make our lists because Somebody" said we need to do more marketing, and we definitely have to make that Somebody feel better.

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Unless you an write your competitors plans, you can’t predict the future.

UNPREDICABILITY THE LAW OF

#17

Page 48: 22 immutable laws of marketing 2014 by Suhag Mistry

THE LAW OF UNPREDICABILITY

• A new strong plan by Vodafone.– By what time Airtel and Idea will copy or offer

more lucrative Plan? • What if companies have micro detail plan for 5

years?• What will be next Samsung mobile features?• What will be next Apple I-phone features?

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THE LAW OF UNPREDICABILITY

• Assuming Everything as per long term plan - Not a Good Idea.

• Flexibility of acceptance and Changes.• Failure to anticipate competitive reaction to marketing

plans is for Planning for marketing failures

• If you are not changing, Your competitors are.

• • Microsoft to cut manufacturer price for Windows by

70%: Report (Date:23rd February 2014 The Economic

Times) I-Pad, Android.

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THE LAW OF UNPREDICABILITY

• long-range planning doesn't work. We can try to observe and follow trends. We can make big-picture predictions.

• But if we try to make detailed plans over the long term, our competitors will surprise us and those plans will end up getting scrapped.

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Success often leads to arrogance, and arrogance leads to failure.SUCCESS THE LAW OF

#18

Page 52: 22 immutable laws of marketing 2014 by Suhag Mistry

The Law of Success Success often leads to arrogance, and arrogance to failure

• Ego is the enemy of successful marketing. companies may become blinded by early success and hence lose focus.

• When a brand is successful, the company assumes the name is the primary reason for the brand’s success. So, they look for other plaster on the Name.

• Good marketers don’t impose their own view of thinking they think like a prospect thinks.

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The Law of Success

• The bigger the company, the more likely it is that

the CEO has lost touch with the front lines. to get

honest opinions of what’s really happening, you

must see yourself & get down to the front.

– Eg. Divya Bhaskar launch in new cities, Cavin care CEO.

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What Entrepreneur can do

• When you go to a trade show, spend some time in the booth talking to prospective customers.

• Answer a tech support/Complaint call.• Send Thank you notes to well-wishers • Help with the testing before the next release.

– Windows 7

• Be in touch then only take Marketing Decisions.

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Failure is to be expected and accepted.FAILURE THE LAW OF

#19

Page 56: 22 immutable laws of marketing 2014 by Suhag Mistry

The Law of FailureFailure is to be expected and accepted

• There is a built-in conflict between the personal and the corporate agenda: marketing decisions are often made • First with the decision maker’s career in mind and• Second with the impact on the competition or rival

in mind. Safe decision are common & bold moves are highly unlikely

• Risk needs to be taken for identifying working Ideas.

Page 57: 22 immutable laws of marketing 2014 by Suhag Mistry

•Wal-Mart’s ‘ready-fire-aim’ – nobody hits the target every

time.

•When you realize you've made a mistake, cut your

losses.

•IBM should have dropped copiers & Xerox should have

dropped computers years before they recognized their

mistakes

The Law of Failure

Page 58: 22 immutable laws of marketing 2014 by Suhag Mistry

The situation is often the opposite than the way it appears.

HYPE THE LAW OF

#20

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The Law of Acceleration

• Weight lose institute marketing:– All those “lose weight quick” schemes are what

we call “fad diets” because they are full of broken promises that accelerate quickly and then die.

• Successful fitness entrepreneurs focus on – Healthy lifestyle changes that teach clients • How to lose body fat• Get toned and fit, • And stay that way for life.

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The Law of Acceleration

• Fitness strategies are the trend because they teach customers slowly and continue to provide the service we promised.

• One way to carry on a long-term demand for our service is to never completely satisfy the demand.

• This doesn’t mean we aren’t satisfying the customer. • It means we continue to develop new concepts that keep

them happy, wanting and reaching for more.– Eg: Mastermind

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Without adequate funding, an idea wont get off the ground.RESOURCES THE LAW OF

#22

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• even the best business idea won’t go very far without the money

• Marketing has two phases, – Strategy and communications. – No matter how much money you have, don't

spend money in the communications phase until your strategy stuff is done and solid. (Follow 21 Laws)

• Marketing is a game fought in the mind of the prospect. you need to get into the mind and to stay there.

The Law of ResourcesWithout adequate funding an idea won’t get off the ground

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The Law of ResourcesWithout adequate funding an idea won’t get off the

ground

• Identify what amount of funds will be required to position your Product/Brand in customers mind.

• You can raise money through VC firms, corporate, use your own or your partner’s money, or share your idea by franchising it.

Page 66: 22 immutable laws of marketing 2014 by Suhag Mistry

Sources:

•Book: 22 Immutable laws of Marketing.

•Google.

•Observations.

•Slideshare: Special Thanks to Mjamesno for sharing

Presentation

Page 67: 22 immutable laws of marketing 2014 by Suhag Mistry

Thank You