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11 Aug 2022
11 Aug 2022
The book explains 22 immutable laws of marketing, which are as follows:
It explains that it is better to be first than to be second.
If you cannot be first, then set up a new category.
It is better to be first in mind than the marketplace.
It is not a battle of products, but a battle of perception.
Own a word in the prospect mind.
Two companies cannot own the same word.
The Strategy to use depends on which rung you occupy on the ladder.
In the long run, every market becomes a two-horse race.
If you are shooting for second place, your strategy is determined by the leader.
Over time, a category will become two or more categories.
Marketing effects take place over an extended period.
There is an irresistible pressure to extend the equity of the brand.
You have to give up something, in order to get back something.
For every attribute, there is an opposite, effective attribute.
When you admit a negative, the prospect will give you a positive.
Only one move will produce sustainable results.
We cannot predict the future.
Success often leads to arrogance, and arrogance to failure.
Failure is to be expected and accepted.
The situation is often the opposite of the way it appears in the press.
Successful programs are not built on fads, they are built on trends.
Without adequate funding, an idea would not get ground.
It explains about how to get more customers by marketing less.
We live in interesting times, marketers have much less of a captive audience to shout at because modern technology helps people avoid unwanted interrupted marketing messages.
So now instead of interrupting, what people are interested in you have to be what people are interested in.
That is why the content is the only marketing left.
This book covers the history of content marketing, which is a pretty old form of marketing, which is now going through a revival.
It shows you how to define a marketing niche and content strategy.
It walks you step by step through the process of developing content that informs, entertains, and compels action.
But it also includes how to measure your content marketing in order to improve it.
This book gives a very big picture overview of how to do marketing the right way in todays date.
It is an amazing book on understanding how to go from making a stranger into a friend, consumer, or customer of yours.
The author explains how to structure the marketing in such a way that people will enter the marketing into their life, rather than running away.
It explains about permission marketing is all about only marketing when the customer has shown interest in your product and service, which says that you have their permission to reach out to them and educate them about the product and services.
The permission-based marketing is future-based.
Here the customers get interested in getting more information on the topic they want to learn about.
It is personalized because the consumers show interest in a very specific thing in your business.
According to the author, the world is changing at an unprecedented speed, especially with the emerging digital technologies that are coming our way in this new world like 5G, virtual reality, 3D printing, artificial intelligence, and blockchain. In addition with the infinite amount of data that it brings to marketers can be very overwhelming for the marketer.
The four key takeaways from this book are:
The author summarizes key activities in which marketers need to excel.
Build brand, protect the brand, drive business growth, and create platforms for competitive advantage.
It explains how to avoid practicing traditional marketing.
Focus on word of mouth, influencer Marketing, and create a community.
The author explains that only 25% of customers see themselves as brand loyal and the remaining 75% cheat on their brands. The marketer can try to build a real connection with your target audience to make them stay for a while and make them loyal.
The author explains that the companies that make ethics and transparency, their top priority will outperform the ones that do not.
The author of the book started explaining today how more and more things are demanding for our attention, but we are not getting anymore, or are not getting any better at paying attention.
Our brain is not getting anymore efficient given our attention. The thing which is important today is the ability to gather the attention.
This limits to supply attention and use it to market the brand, or product to give you the idea of just how bad it is getting to this book was written in 2001 to now the internet has got bigger.
It is only been more efficient at conveying information, which means our attention is even more scarce. But the point still hold up in the book, do not be afraid.
The four points explained in the book is what positioning is, or one positioning in starts. People are being working from the ideas that the potential customers already have and going from there.
The people are not trying to plan a new idea in the potential clients mind, because it would take divine intervention.
Our attention is so scarce to plan a new idea, so we must work on the ideas that are already there and retie them to new connections. The author explains two biggest factors - being the first, and second is being the most of something.
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