The quote above reminds me of Elon Musk and how he open sourced TeslaвЂ™s patents to stimulate the growth of the electric car market. DC told its prospects why they ought to buy a mini-computer, not a DEC minicomputer.вЂќ вЂњWhen youвЂ™re first in a new category, promote the category. Snapchat is also another good example and how itвЂ™s heavily challenging Facebook on the mobile front. Myspace or Friendster are good examples of how they set up a new category entirely and dominated that category. Yes! This is exactly the rational behind choosing a niche or target market for your business and also reminds me of the Innovators Dilemma, where companies are replaced by young upstarts over time that embrace a new technology or serve a new customer set. Category: вЂњIf you canвЂ™t be first in a category, set up a new category you can be first in.вЂќ If itвЂ™s a 10x improvement, then it doesnвЂ™t matter who came first as much, which leads to the second law. However, I think this only holds true if the competitors are only incrementally improving on the solution that the leading company has come up with.

I think this point is true, especially if вЂњfirstвЂќ means the first to successfully solve and monetize a problem for consumers, like Yahoo. Leadership: вЂњItвЂ™s better to be first than it is to be better.вЂќ This is only scratching the surface of the book, so I do still highly recommend buying or renting it if youвЂ™re trying to get better at marketing. They should first establish product-market fit with their messaging and branding with real dataВ (not surveys or an analysis conducted by some consulting firm) before pouring a bunch of money into that marketing campaign.ДЇor the rest of the post, IвЂ™m going to list out the 22 Immutable Laws and my thoughts on them. To me, coming from a tech startup background, this is reminiscentВ of the book, Lean Startup, which I think spells out the direction that modern marketers should take. You can pay to have millions of people get introduced toВ your product or advertisement, but it doesnвЂ™t mean that millions are going to buy it. It seems like companies spend millions on marketing from some agency or manager with a brilliant strategy, only to have it fall flat, because they donвЂ™t properly understand the minds ofВ their consumers or target consumers. вЂњMany managers assume that a well-designed, well-executed, well-financed marketing program will work. Unlike sales, which tends to compensate performers on a commission or revenue percentage basis, marketing agencies, departments, and consultants tend to be paid on a strict fee or salary basis, making it more severe financially if they should make a mistake on a particular marketing campaign. IвЂ™ve come to learn that marketing and advertising, unlike sales, is frequently a bank balance drain for may young and established companies. If youвЂ™re thinking of reading this book, IвЂ™d love to hear from you in a comment below and learn more about theВ business youвЂ™re working for or looking to start up! This book nicely compliments my last review of the biography of Elon Musk,В who is a daring and innovative entrepreneur. So, this review is going to cover some of the more prominent points that got from reading this book and some of the criticisms I have. It was first publishedВ in 1993 and itвЂ™s still relevant today! I picked it up on the advice of a friend, and I have to say, even though itвЂ™s a slim book (132 pages), it packs a big impact.ДЄt the same time, I have to admit that some of the references and recommendations in the 22 Immutable Laws of MarketingВ are a little outdated.

22 immutable laws of marketing review