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I recommend this book for children up to three years old. Older children will probably want more of a story.
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The back cover shows the splendid and heartbreaking image of a little boy on a silver stork in the sunset above the clouds, with the looming towers of the World Trade Center resolving into beautiful, grey sleep (sixteen years ago).
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For thoes who are interested in advertising or are already in the business should really read this book. It is practical advice from experts in the field. I have read other books by both authors and have found very vaulable information in all of them.
I disagree with the negetive previous review. Of course times change and so do values, beliefs, and situations, but the basic advertising, branding ideas stay true. Chrysler would have probably failed if they had not developed brands that created a unique perception in the mind of the consumer. The PT Cruiser, 300M and so on... before all of their cars looked the same...like Chryslers. boring, replications, year after year. That type of line extension would burn a brand out faster than it got started.
The one law which I found most interesting is line extension. I would have given this a 5 star review, however I feel that some brands can line extend without damage to the core brand. However this is very limited and must be delt with caution.
However, you can see the effect of correct line extention today. In the car market Toyota, Nissan, and Honda all wanted to compete in the high priced car market. They would never get in the mind of the consumer with a $40,000 honda. But they would with a new name, new brand image and new advertising strategy....hence, Acura.
Advertising is 90% perception of a brand. Consumers feel what they want to feel, believe what they want to believe, and buy what they think is the better brand. The job of advertising is to change thoes perceptions in the mind of the consumer.
I can go on and on, but it's better if you get the book and read it for yourself. As you can probably tell, I really enjoyed this book.
I have been working in this field for almost 5 years and I have realised that marketing people tend to have a wide variety of their own ideas about marketing and how to do it. I know that in this field a lot of the success comes from 'the unsual' and 'the uncommon' strategies, but it also comes from certain rules that have to be respected, because a history of more than 25 years proved that they work.
This book is meant to eliminate myths and misconceptions someone might have about the marketing process. Companies spend millions of dollars on marketing thinking that they are chosing the best way to promote their products. But no matter how extraordinary those programs are, sometimes they fail and bring no benefit to the product or the service they promote. The result destroys the identity of the brands, market share decreases, and so do sales. Companies lose a lot of money.
The two authors have a lot of experience in this field and their theories are based clear examples. If marketing people would adjust their promotional programs according to these rules, companies would be much more successful.
There are 22 rules in total, applicable to every field, rules that will make you understand why things are the way they are. It will also help you analyse past experience and decide what was wrong and right and avoid doing the same mistakes in the future.
It is not an academic book . The language and style are accessible to everybody. The authors give a lot of examples from companies' life that will give you a very clear picture of what is going on the market.
Did you know that it is better for a brand to be first on the market than it is to be better? Did you know that the most powerful concept in marketing is owning a word in the prospect's mind?
I recommend this book to everyone who wants to learn more about marketing and become a professional in this field. Together with Kotler's "Marketing Management', the '22 Immutable laws ...' should be the marketing people's Bible to be read every day.
I am sure it will improve your activities and help you achieve more success.
I will only list those laws that I found most important for me:
Law 3.) The Law of the Mind - It is better to be first in the mind than to be first in the marketplace. Examples of this are the personal computer market with MITS Alistair 800 being the first in the marketplace; Apple was the second in the marketplace but first in the mind of the people. The same example is shown with different companies such as Remington Rand and IBM.
Law 4.) The Law of Perception - Marketing is not a battle of products, it's a battle of perceptions. You can have a much better product than your competitor but perception wins out most of the time over product. A great example of this is the battle of the imported japanese car market of Honda, Toyota and Nissan as well as the soft drink war between Coca-Cola and Pepsi.
Law 12.) The Law of Line Extension - There is an irresistable pressure to extend the equity of the brand. One of the best chapters of this book explains how a winning product is turned into a loser by creating a spin-off version of the original product. Marketing managers continue to make this fatal mistake today of taking a successful brank like Coke, then creating Cherry Coke, Coke Classic, Caffine Free Coke etc., Engaging in line extension dilutes the original successful brand and the new version will never recoup the market share lost by the leading product. In the end there is an overall market share drop for the entire brand. Other examples of this is IBM's flirtation with the personal computer market, which was already dominated by the Apples, Commodores and Ataris.
The book is very condensed and I am sure a lot of the business scenarios depicted are more complex than they appear. Yes the book is rather old but a lot of these theories still have held true through the internet boom and bust cycle experienced over the last several years.
All people in the field of marketing should have these laws chiseled into their crainium somewhere.
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