22 immutable laws of marketing review
1 by creating a new category that you will invest first in. The second most successful IT company in the 1960s and 1970s was Digital Equipment Corporation, which created the niche market for minicomputers and was the leader in it. Of the 7 companies that rushed into the same market, which one was second? None of them. What was the most successful IT firm in the 60s and 70s? IBM. Who was the first to prevail in minds in the category of “computers”? IBM. It took five years for an importer to think, “if there is a market for an American light beer, there is a market for an imported light beer”.
Similarly, Miller Lite was the first American light beer. However, they rather thought, “If there is a market for high-priced imported beer in the US, there must be a market for a high-priced American beer”. When they saw this, the American beer maker Anheuser-Busch could have tried to beat them by also bringing in an imported beer. Heineken was the first imported beer in the United States and has become a leader in this sector.
Why? Because she is the first woman to fly the Atlantic! What about the second person? Uh… And the third person? Amelia Earhart.ĭoesn’t her name sound familiar? And yet, she is much better known than Bert Hinkler, the second to fly the Atlantic. Who is the first person to fly across the Atlantic? Charles Lindbergh. Law 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 When a brand becomes a generic term, its future is assured: Scotch, Fridge, Velcro, Aspirin, etc.īut what if your product or company is not the first in its category? Are you forever doomed to being overshadowed by the pioneers? Not necessarily. In each category, the leading brand is indeed very often the brand that was the first to get into the minds of consumers. Now you have come to understand the importance of being first. If you answered “Louis Blériot” to the first question, and didn’t find the answer for the second, congratulations! You’re not alone.