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- Summary: The 21 Immutable Laws of Marketing
Summary: The 21 Immutable Laws of Marketing
[ NOTE: These book summaries are designed as captures for what I’ve read, and aren’t necessarily great standalone resources for those who have not read the book. Their purpose is to ensure that I capture what I learn from any given text, so as to avoid realizing years later that I have no idea what it was about or how I benefited from it. ]
Be first to market
Create a product in a new category
Being first means being first in the minds of customers
Marketing is about perception, not reality
You must try to own powerful words in the minds of customers
If someone already owns a word, make a new one
You have to use different strategies depending whether you’re the top player or the third player
In the end there will be two
If second place is your goal, play the opposite of first place
Categories will divide, so another way to win is to become the leader in a new subdivision
Marketing is a long game; don’t sacrifice the strategy for the tactics
Don’t use the name everywhere; create separate brands for different things
It’s all about tradeoffs (product line, target market, constant change)
Use opposite attributes
Admit negatives to earn trust
There is one good move for every situation
Be flexible because you don’t know what’s going to happen
Getting an ego will get you killed because you’ll lose your objectivity
Expect to fail and be prepared to move on quickly
Ignore what people are saying; reality is often different
Follow the trends, not the fads
You need to invest in good ideas if you want them to grow
Lessons
It’s interesting to see what this book got right and wrong
Funny, I read this as Trump was becoming interesting again for election 2016
I like the ego paint and I think IBM and Blackberry are great cases in point
[ Find my other book summaries here. ]