The 22 Immutable Laws of Marketing-By GROUP-3

8/4/2019 The 22 Immutable Laws of Marketing-By GROUP-3

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Arjun MehtaAdil Husain

Arun Pratap

Nalin DSouza

Pavan

ByGROUP 3


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Definition

Immutable Unchanging or unable to change.

Law - A rule which cannot or should not bebroken.

Law of Marketing- Marketing is a Science and theLaws of Marketing seem to control the Business

function of Marketing of companies across theworld.


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The Law of Leadership

The Law of Leadership affirms the importance of beingnumber one in a category.

People usually know who the number one player is, butoften cannot even name the number two.

Example:


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The Law of Category

If you cant be first in a category, set up a new

category you can be first in.

There is no competition in the new category market .

So, when you first in a new category, promote thecategory.

Example:


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The Law of the Mind

Its better to be first in the mind than to be first in the

marketplace.

If you are not first in the marketplace but first in theprospects minds(through a good marketing

campaign), you are sure to have a majority share in

the market .


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The Law of Perception

The Law of Perception says that in the battle betweenproducts, perception is more important than reality.

"Marketing is not a battle of products, it's a battle ofperceptions."

Example:

Is Caf Coffee day better or Costa Coffee??


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The Law of Focus You should burn your way into the prospects mind by

narrowing the focus to a single word or concept; the

simple words are the best.


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The Law of Exclusivity

Two companies cannot own the same word in theprospects mind.


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The Law of theLadder

The strategy to use depends on which rung youoccupy on the ladder.

All products are not created equal; There is a

hierarchy in customers mind which they use in makingdecision

Example:

lemon lime soda 7up gained much attention than

sprite or limca


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The Law of Duality

In the long run, every market becomes a two horse

race. Example:


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The Law of the Opposite

If youre shooting for second place, your strategy isdetermined by the leader.

Discover the essence of the leader and present theprospect customer with an idea ; dont try to be better,try to be different. Present yourself in an alternativeway to the first brand.

Example:Coke is an old soft drink, so Pepsi went successfully

for the choice of a new generation.


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The Law of Division

Over time, a category will divide and become two ormore categories.

The marketing arena can be seen as an ever

expanding sea of categories

Example:

When Honda decided to go up-market, it introducedAcura into the luxury-car market instead using the

Honda name.


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The Law ofPerspective

Marketing effects take place over an extended periodof time.

Dont expect results to be instantaneous.

A successful campaign will leave a impact oncustomer mind for years.


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The Law of Line Extension There is an irresistible pressure to extend the equity

of the brand.

Line extension involves taking the brand name of asuccessful. product and putting it on a new product

you plan to introduce in the market.


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The Law of Sacrifice You have to give up something in order to get

something.

3 things to sacrifice :

- Product line

- Target market

- Constant change


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The Law of Attributes When you have to focus on attributes, for every one

of them, there is an opposite and effective attribute.

If a work of art is attributed by someone, then it is saidthat , that particular person has created it.


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The Law of Candour When you admit a negative, the prospect will give you

a positive.

It is about speaking honestly and openly about yourproduct.


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Only one move will produce substantialresults.

That means, choose the move where youexpect the least chance of surprises.

The success of marketing campaignsis defined by the best idea on the list, not

the length of that list.

The Law of Singularity


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The Law ofUnpredictability

Unless you write your competitors' plans, you can'tpredict the future.

Marketing plan for future are often failure due to

volatility in the environment.

Example:


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The Law of Success

Success often leads to arrogance, and arrogance tofailure.

When a brand is successful, the company assumes

the name is the primary reason for the brandssuccess and they loose touch with the frontline.

Example:


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The Law of Failure

Expect it & Accept it.

Recognize failure early and cut your losses. Better to drop things and move on rather than

reorganize and try again


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The Law of Hype

The situation is often the opposite of the wayit appears in the press.

When things are going well, a company

doesnt need the media hype. When you needthe hype, it usually means youre in trouble.


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The Law of Acceleration

Successful programs are not built on fads,

theyre built on trends. Fads : quick

Trends : slow


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The Law of Resources

Without adequate funding and idea wont get

off the ground Ideas without money are worthless.


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The 22 Immutable Laws of Marketing-By GROUP-3

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