Some examples of owned words: McDonalds (fast), Volvo (safety), Domino’s (delivery), Crest (cavities), and Nordstrom (service). What won’t work in marketing is leaving your own word in search of a word owned by a related brand. You burn your way into the mind by narrowing the focus to a single word or concept. You can’t stand for something if you chase after everything. No matter how complicated the product, no matter how complicated the needs of the market, it’s always better to focus on one word or benefit rather than two or three or four. The most effective words are simple and benefit oriented. Simple words are best, words taken right out of the dictionary. A company can become incredibly successful if it can find a way to own a word in the mind of the prospect. The most powerful concept in marketing is owning a word. When you’re the first in a new category, promote the category. Few people are interested in what’s better. But prospects have an open mind when it comes to categories. Everyone talks about why their brand is better. Prospects are on the defensive when it comes to established brands. When you launch a new product, the first question to ask yourself is not “How is this product better?” but instead “What category is this product first in? Sometimes you can turn an also-ran into a winner by inventing a new category. If you didn’t get into the prospect’s mind first, don’t give up hope. But if a category appeals to prospects, it’s better to be first than to try to demonstrate that you are better than whoever got there first. Some firsts are just bad ideas that will never go anywhere. Timing is an issue-your first could be too late. Not every ‘first’ is going to become successful. It’s much easier to get into the mind first than to try to convince someone you have a better product. The leading brand in any category is almost always the first brand into the prospect’s mind. The basic issue in marketing is creating a category you can be first in. It’s better to be first than it is to be better. It’s a short book that every marketer should read at least once. While many of the examples in the book are dated at this point, the lessons remain applicable today. The book is for marketers, founders, or entrepreneurs interested in marketing strategy. It covers essential tips for launching and positioning a successful brand. The 22 Immutable Laws Of Marketing can help you avoid this fate. Many brands struggle to stand out in their marketplace.
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