{original squeezed contributor: milton}

Summary

The 22 “immutable” laws of marketing:

1. The law of leadership: you want to be first in a category rather than “best” in a category.

2. The law of the category: if you can’t be first in a category, set up a new category you can be first in.

3. The law of the mind: even more important than being first in the marketplace is being first in the mind.

4. The law of perception: perceptions count for more than products.

5. The law of focus: owning a word in the prospect’s mind is the most powerful thing there is in marketing. For instance, “kleenex” with paper tissues, “google” with search on the internet, or “xerox” with copiers.

6. The law of exclusivity: two companies cannot both own the same word in the prospect’s mind.

7. The law of the ladder: your strategy depends on where you are on the ladder. On top? One rung down? Your product’s location on the ladder determines what strategic options are available to you.

8. The law of duality: with time, all markets become two-horse races.

9. The law of the opposite: if you are aiming for second place, your strategy is determined by the market leader.

10. The law of division: with time, a given category will split, and become two, or more categories.

11. The law of perspective: the effects of marketing are not immediate and need time to be effective.

12. The law of line extension: the pressure to extend a brand is irresistible, causing what was once a tightly focused product to be a thinly spread line of many products.

13. The law of sacrifice: in order to get something, you must be willing to give up something else.

14. The law of attributes: for every attribute, there is an opposite effective attribute

15. The law of candor: when you admit a negative, the prospect will give you a positive. The example given is of Avis admitting that they are number 2 in rental cars.

16. The law of singularity: for every situation, only one move will produce substantial results.

17. The law of unpredictability: “unless you write your competitor’s plans, you can’t predict the future.”

18. The law of success: “success often leads to arrogance, and arrogance to failure.” Never stray too far from your customers.

19. The law of failure: failure is to be expected and accepted, so don’t be afraid to take risks. You must also be ready to cut your losses when confronted with failure, however.

20. the law of hype: your situation is often the opposite of the way it appears in the press: “When things are going well, a company doesn’t need the hype. When you need the hype, it usually means you’re in trouble.”

21. The law of acceleration: “successful programs are not built on fads, they’re built on trends.”

22. The law of resources: “without adequate funding, an idea won’t get off the ground.”

Links

Links to other sites - authors, book’s web site, etc…

http://www.ries.com/

http://www.troutandpartners.com/

Eric Sink’s summary of the book: http://www.ericsink.com/laws/Immutable_Laws_Marketing.html

Recommended Resources

For a more in-depth, comprehensive summary of The 22 Immutable Laws of Marketing, check out GetAbstract.com