Strategies on Brand Building by Top Brand Gurus

Strategies on Brand Building by Top Brand Gurus 1. The fundamental law of Marketing is the Law of Leadership. It is better to be first than to be better. Microsoft launch ed in '81 while Apple launched in '84. Apple is better in hardware, software and other areas but has only 3% share while Microsoft has 94% share. 2. Inspite of this law, every company focuses on being better. The best voted Marketing book in America is titled "Simply Better". 3. If first is perceived to be the best, then automatically the company will attract good people, good distributors and so on. The key is to create the perception in the mind that being first means being the best. 4. To win the battle in the market one needs to win the battle in the mind. Xerox invented the laser printer. But did not enter the market. HP was the first. Red Bull was the first energy drink. Coca cola introduced KMX energy drink. Red Bull outsold KMX 20:1. Last leader brand produced by Coca cola was 'Sprite'. Their strategy has predominantly to be better. 5. Instead of trying to build a better product win the 'better perception'. 6. Another Law of Marketing is the Law of the Mind. First in the market is nothing. First in the min d is everything. Duryea was the first car in the market but Ford's Model T was the first in the mind. Yuengling was the first beer in the market but Budweiser was the first beer in the mind. Similarly the first bookstor e on the Net was Powell's.com but Amazon.com is the first in the mind. 7. The first search engine was Alta Vista. But the first search engine in the mind is Google. Focus gets one into the mind. Alta Vista turned itself into a portal. It lost its focus and was ultimately sold to Overture and then to Yahoo. Today Google is the le ading Search Engine. Not enough to be first but need to be first in the mind. 8. The Law of Leadership is the Law of PR. Building buzz makes news. Being first in a new category makes news. Not being better than your competitors. 9. Law of Profits. You can sell anything if it's cheap enough. To make money you need a brand. 10. Motorola invented the cell phone. But Motorola put its name on a variety of products. In the last 10 years Motorola has achieved a sales of $ 289 bn. And a net profit margin of less than one half of one percent. It is now in the process of getting focused. It has sold its satellite and other

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Strategies on Brand Building by Top Brand Gurus