13: The Law of Sacrifice

Your market segment will not remain isolated. Instead, your category will split into two or more categories over time. Each segment will have its own leader, and it is uncommon for the original category leader to also be the leader of the sub-categories.

Cars began as a single category, an...

Companies frequently succumb to the urge to extend a successful brand into unrelated areas.

When this happens, the firm loses focus and fails because it tries to be everything to everyone rather than focusing on what it knows how to accomplish.

More is less in marketing.

Each marketing attribute employed by one organization has an opposite attribute that the other may successfully exploit.

The justification for this strategy is self-evident. It is difficult to succeed by replacing market leaders; thus, you should concentrate on addressing any section of the...

If you admit a mistake in your marketing, customers will accept it favorably.

That works because it is unexpected and opens the audience up to your message.

Smart businesses accept marketing shortcomings and then transform them into opportunities.

The authors use Listeri...

The reality of any marketing strategy is sometimes diametrically opposed to what is presented in the news.

When revenues are down, corporations conduct interviews and claim that everything is fine. Companies are silent when they are strong.

Pay attention to the minor hidden aspects of...

Successful marketing strategies follow trends rather than fads.

Fads are temporary events, whereas trends are long-term shifts.

When a corporation moves too quickly and begins to deal with fads, it fails.

Without the necessary resources, good ideas do not take off.

Even the greatest professionals in the world will fall short if they lack the means to reach out to the client.

You must invest money to get there, and much more money to repair your image in the eyes of consumers.

It is difficult to predict the competition's plans, and their reactions can never be predicted. Examine broad trends, but avoid jumping to conclusions or exaggerating the facts.

You should also avoid betting on the future being a repeat of the past. Simply plan for what to do if anything un...

Marketing results may only be realized over time. It is a mistake to forsake long-term planning in order to improve short-term results.

Raising sales in the near term through the use of rebates can be beneficial to the company financially, but it teaches customers to buy only when there are...

Ego is the enemy of effective marketing. Subjectivity and an emphasis on judgment rather than the market are related to success. Success is a necessary prerequisite for line expansion.

Companies may mistakenly believe that their present success may be expanded into multiple other industrie...

If your category already has a first, you should try to create a new category in which you may be first.

Amelia Earheart, for example, was the third person to fly solo across the Atlantic Ocean. However, she is not well-known for this. She is well known for being the first...

Owning a word in the consumer's mind is the most powerful thing in marketing.

Having a defined context means that when people hear this term, they will associate it with the brand that owns the word.

Example: Gillette is synonymous with shaving blades and Goo...

Consider the market to be a ladder within the consumer's mind. 

Your marketing strategy is determined by where you are on the market ladder. An effective strategy balances your present position with sensible investments.

Avis, the American corporation, was the number...

Better than having a superior product to the competitors is being the first in a market.

People remember the first man on the moon and the first aviator, but no one recalls the second.

Example: Tesla, is the first electric car company to offer a long-range on its elec...

In each scenario, only one action will have significant consequences.

Despite this, many marketers feel they should employ many strategies and hope one of them succeeds. Trying harder, on the other hand, is not the secret to success.

A single, bold stroke is all that is required for...

Over time, every market descends into a two-horse race.

Consider McDonald's & Burger King and Nike & Adidas.

There will always be two brands competing for a category win. Companies that do not already dominate their...

When a consumer has made up their mind, it is impossible to change their opinion.

As a result, the authors advise you to avoid wasting marketing dollars attempting to persuade individuals to change their beliefs.

Furthermore, you should strive to be the first thought of your consume...

The book focuses on the fundamentals of marketing and how to avoid breaking the law.

Each marketing law offered in the book is supplemented with clear and actual examples from the history of well-known brands (such as IBM, Coca-Cola, Xerox, Starbucks, and so on) vs examples...

According to this law, two firms cannot own the same word in the minds of prospects.

As a result, the authors advise against spending money to acquire a word that someone else already has.

Burger King attempted to own the term "quick," but it was already owned by

Failure must be anticipated and embraced.

Recognizing your shortcomings early allows you to minimize your losses. Most of the time, it is best to cut your losses early rather than wasting time and money attempting to mend matters.

According to the authors, there is no objective fact in the marketplace.

As a result, all that exists in the realm of marketing are perceptions in your consumers' minds. Your marketing should exist only to manipulate these perceptions.

You can overcome your flawed m...