The 22 Immutable Laws of Marketing: Violate Them at Your Own Risk!
Dr. Steven D. Langdon
President at Southeast Missouri Hospital College of Nursing and Health Sciences
Al Ries and Jack Trout, 1994.
I will admit that most of the knowledge I have acquired regarding marketing I have ascertained from observing the markets in higher education, discerning successful business practices in education, and finding tidbits in writings that are easily identifiable, understood, and applicable. I have read contemporary critiques of this text and still find the concepts to be basically true. For more sophisticated and detailed applications of these marketing principles I would require collaborative work with a marketing specialist. Be that as it may, I have experienced success using these concepts (or combination thereof) for many projects within an institution and in the public for the benefit of the institution. I share the following seven categories for your appreciation.
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 a new category than trying to attack existing categories.”
It is critical to understand the significances of Law #2 particularly in relationship to Law #3.
Law 3 (law of mind)
“It's not important to be the first in the market but the first in the mind of consumers.”
Once you created your category, it is imperative to quickly settle into the mind of consumers your outstanding status in the new category (Law 5 - law of focus).
Law 4 (law of perception)
“Marketing is not about products (their features or quality) but about perceptions (how people perceive products). Reality doesn't exist, what we call "reality" is just a perception of reality that we create in our minds. Therefore, what's important is that marketing should be focused on changing the perception.”
Use the newly created category, push it hard into the market, and push the superiority of the concept. From that point, the quality of the product or service (effectiveness and efficiency) will determine reputation and future ROI.
Law 11 (law of perspective)
“Marketing effects take place over an extended period of time. It's a mistake to sacrifice long-term planning with actions to improve short-term balance sheet. E.g. "sales" increase short-term profits but in long-term educates people not to buy for regular price, therefore decreasing [potential] long-term profits.”
Law 16 (law of singularity)
“In each situation, only one move will produce substantial results. People tend to think that success is the result of a lot of small efforts well executed, that working harder is a way to success. In marketing, the only thing that works is a single, bold stroke.”
Law 16 verifies the value of quality (valid, reliable, precise, applicable) market research and analysis.
Law 21 (law of acceleration)
“Successful programs are not built on fads but on trends.”
Fads can make companies a lot of money if they are nimble enough to make transitions into and out of the market (giving heed to laws 1 – 20) but does not ensure long term stability: sell, cut, and run (very perilous).
Law 22 (law of resources)
Without adequate funding an idea won't get off the ground. You need a lot of money to market your ideas.
Quality market research is imperative when considering Laws #11 and #16 and their relationship to Law #22: spend the money, but spend it wisely!
Steve Langdon