Immutable Laws of Marketing Assignment

Immutable Laws of Marketing Assignment Words: 368

Examples: we all remember who first flew cower Atlantic or who was the first man on the moon but almost Rooney knows who was the second. Heinlein was the first imported beer in USA and still is No. 1 Imported beer. Same for Miller Elite, first domestic light beer. Being first doesn’t matter If the idea/product Is not good. I think it’s better to say that being first gives one extremely big advantage over competition but doesn’t guarantee the success. It’s rather obvious that It doesn’t matter that o’er first to market if no-one needs your product or if your product Is very bad.

There are many examples from computer industry that disapprove this rule (I. E. First spreadsheet isn’t the dominant spreadsheet. First word processor isn’t the dominant word processor) so there are (many) cases showing that nth product can overtake early leaders. But it’s very hard and usually requires the leader to make huge mistakes. Law 2 (Law of Category) Given that it’s very hard to gain leadership in a category where competition already exists, it’s better to create a product in new category than trying to attack existing categories, Category doesn’t have to be radically different. ,g, if there’s dominant player in imported beer, one can become the first to import light beer. If one can’t be the first to fly over Atlantic, one can still be the first woman to fly over Atlantic. Law 3 (Law Of Mind) It’S not Important to be the first in the market but the first in the mind Of consumers, Law 4 (Law Of Perception) Marketing is not about products (their features or quality) but about perceptions how people perceive products).

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Reality doesn’t exists, what we call “reality” is just a perception of reality that we create n our minds. Honda is a leading Japanese car manufacturer in us but only third in Japan (after Toyota and Ionians). If the quality of the car was the most important thing it should have the same position in all markets. In Japan. However, people perceive Honda as a manufacturer of motorcycles. Therefore what’s Important Is that marketing should be focused on changing the reception.

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