This was a fun read. I’m no MBA, and I wouldn’t say I work on a marketing team, but this book is pretty solid.
Ries and Trout cut straight to the good stuff. Each chapter has 1 immutable law of marketing and some brief commentary.
I’d say the law that stuck out the most to me was about Brand Extension or Line Extension.
Brand/Line Extension is when a company has a great customer base, a great product, and they decide to expand the business by putting their successful name onto another product. It doesn’t work, and it will often doom a company to lower profits and ultimate failure.
Imagine for example that Dawn dish soap, with their successful household name, decided to launch a line of dishes. New Dawn plates come out of the dishwasher cleaner than any other plates on the market! Would you buy Dawn plates? Maybe.
Here’s the thing. Dawn already occupies a space in your brain, and that space is dedicated to dish soap, not plates.
If you try to get your brain to think about Dawn as a set of plates or cutlery, your brain will get confused and not know what to think of Dawn anymore.
In this confusion, another company can jump in and market themselves as The Company that Just Sells Dish Soap, and they might take the place of Dawn.
And that’s just one of the Laws of Marketing. There are 21 more.
Good read. 4 stars.