I wanted to know if you have read or have knowledge of the book Ries and Trout "Immutable Laws of Marketing".
For my discussion, I need the thoughts on the opinions and positions of Ries and Trout. Do their laws still apply? Consider how we communicate and respond in the 21st century, do basic laws of marketing change over time?
In The 22 Immutable Laws of Marketing Ries and Trout outline concepts that they feel are necessary for a successful marketing program. The laws are stated and then described through examples to help marketers better understand the concept. The book was written in 1986, before the dawn of Internet marketing and social media. Many of the concepts however are still relevant, but not entirely. Let's go through the list:
1. THE LAW OF LEADERSHIP. It is better to be first than it is to be better.
I don't think this is necessarily true. Apple has been first to the market with revolutionary technology: the iPod, iPhone, iPad....but is their success due to being first or doing the job well? Execution is key. Being first allows a product to secure a place in the market but they must be creative and have a valuable product in order to hold on to the lead.
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. I'd change this away from being first to the importance of having a product that can be differentiated by value. Look at the sports drink category: Gatorade was first but Power Ade has significant market share of a sizable category. A product that supports this law however is Red Bull, which started the energy drink craze and
is a leader.
3. THE LAW OF THE MIND. It is better to be first in the mind than to be first in the marketplace.
Absolutely think that this law has stood the test of time, and is a basic marketing principle.
4. THE LAW OF PERCEPTION. Marketing is not a battle of products; it's a battle of perceptions. Again, agree that this is a basic premise of marketing. Our current technology helps to further exploit perceptions through creative visual online advertising and promotions.
5. THE LAW OF FOCUS. The most powerful concept in ...
This solution discusses if the 22 "Immutable Laws of Marketing" discussed in Ries & Trouts book are still current, and if so, how they are communicated in the 21st Century, and whether the basic laws of marketing change over time. It includes examples.