(2019-04-03) Pearson Marketing 101: The 3 Subtle Laws Of Marketing
Taylor Pearson: Marketing 101: The 3 Subtle Laws of Marketing. In his book, Average is Over, economist Tyler Cowen argues that marketing, not STEM fields is the most important skill set for the future.
In an effort to improve my own marketing chops, I’ve read about 30 books on marketing
I believe Marketing 101 can be boiled down to three laws
Law 1: The Law of Stardom
You must own your category (Monopoly)
The best way to own a category is to pick some segment or trend that is small and uncompetitive but growing quickly.
When you own a category and that category is growing quickly, you have what Boston Consulting Group calls a “star business.”
As a rule of thumb, the category you start with should always feel uncomfortably small
Law 2: Yoda’s Law (Yoda, You Must Be)
Once you have a new category, you have to take prospects through a hero’s journey.
This works because the hero’s journey is a universal structure which humans can’t help but like. In fact, the best way to think of the hero’s journey may be as a virus — done well, it self-replicates in the mind of your target market, grafting itself onto primordial structures.
The hero’s journey is fractal (self-similar at different scales) within an organization
At the product level, it should be tightly coupled with an acute pain point like losing that last 10lbs or increasing your company’s profits.
Law 3: The Law of Marketing Stamina
If you have a winning marketing message and campaign, you don’t stop when you get bored of it,