Become a Market Leader

Why Should You Strive To Become a Market Leader?

Excerpts from "The 22 Immutable Laws of Marketing," Al Ries, Jack Trout and Paul Temporal
It's better to be the first than it is to be better.
Being first in any category is going to give you the edge – being the leader comes from being first. It's much easier to get into the mind of consumers first than try to convince people you have a better product or service than the one that did get there first. Improvements are always made to product/service inventions and innovations but the first in has a head start. Once you are the leader, a position mostly gained by being first, it is pretty hard for competitors to dislodge you, as long as you keep your products up to date and of comparable quality.
Further, the first in to the market has the opportunity to have its brand name adopted as the generic category name. Once you are first and get the consumers to buy your brand, often they won't bother to switch. People tend to stick with what they've got... More

MENTAL MAPS

The Power of Mental Maps

People have different ways of communicating their experiences - some express themselves in pictures, others talk about how things sound to them, and others speak about how things feel.
A Mental Map is a powerful way of expressing the thought patterns, pictures and associations that already exist in the brain. "When new information is compatible with your knowledge structures it is accepted, when it does not mesh with your pre-conceived ideas or past experience it receives little consideration, is distorted or ignored."

Asking Open Questions

Ask a simple open-ended question. Then, be quiet and make note of the exact words the other person uses. When a person answers an open-ended question, he stops focusing outward and goes inside his mind. At that instant, he becomes relatively unaware of the words he uses. Those words point back in time to meaningful memories and emotional experiences. Just listen. Most people tell you more about themselves than they think.

Cross-Cultural Communication Challenges

Culture is often at the root of communication challenges. Exploring historical experiences and the ways in which various cultural groups have related to each other is key to opening channels for cross-cultural communication. Becoming more aware of cultural differences, as well as exploring cultural similarities, can help you communicate with others more effectively. Next time you find yourself in a confusing situation, ask yourself how culture may be shaping your own reactions, and try to see the world from the other's point of view