The law of duality: in the long run, every market turns into a two-horse race
Early in the life cycle of a product category, a product ladder is formed with many rungs. Little by little, the ladder becomes a matter of two rungs.
In batteries, they are Eveready and Duracell. In rental cars, they are Hertz and Avis. In hamburgers there is McDonald’s and Burger King. In toothpaste, it’s Crest and Colgate.
The Law of Duality suggests that during the life cycle of the product category, the lower rungs of the ladder will lose market share and disappear; the top rung will lose market share; and step n. 2 on the product ladder will gain market share, ensuring that the market is a two-horse race.
Are the results predetermined? Of course, no. There are other marketing laws that can affect your results as well.
Also, your marketing programs can strongly influence your sales, as long as they are in tune with the laws of marketing. For example, instead of attacking two strong leaders, what you can do is create a profitable niche (as Crest prevents cavities as described in # 5, The Law of Focus).
Knowing that marketing is a long-term two-horse race can help you plan short-term strategy.
It often happens that there is no well-defined number 2. What happens next depends on how skilled the contenders are.
What is especially tragic from an economics perspective is the wasted resources in many high-value product categories, yet this is the cost of capitalism.
Look at the history of the automobile industry in the US In 1904, 60 companies assembled 195 different automobiles. Over the next 10 years, 531 companies were formed and 346 perished. In 1923, there were only 108 automakers left. This number was reduced to 44 in 1927. Today, Ford is at the top rung of the product ladder with General Motors and Chrysler battling for the second rung on the ladder.
Successful marketers focus on the top two rungs. Jack Welch, during his reign as CEO of General Electric, said: “Only companies that are ranked No. 1 or No. 2 in their markets can win in the increasingly competitive global arena. Those that cannot be No. 1 or the 2nd, they were fixed, closed, or sold. “
This kind of thinking has turned companies like Procter & Gamble into No. 1 or No. 2 powerhouses in more than 80% of their product categories.
At the beginning of a product’s life cycle, rung n. 3 or n. 4 on the product ladder looks attractive. Sales are increasing. New and relatively unsophisticated clients are coming to market. These customers don’t always know which brands are the leaders, so they choose the ones that look interesting or attractive … hence the interest of many Internet marketers in marketing MyStory and the You Inc. brand. Very often These marks turn out to be the No. 3 or No. 4 rungs on the product ladder.
However, as time goes on, these clients educate themselves. They want the leading brand based on the naive assumption that the leading brand must be better.
The customer believes that marketing is a product battle. It’s this kind of thinking that keeps two brands on top. Customers think that the top two brands “must be the best because they are the brand leaders.”
As an internet marketer, you must understand the law of duality. To compete, use the marketing methods and techniques of brand You Inc and MyStory to create your own product category or define a niche where you can be the leader and occupy the top rung of the product category ladder (as described in No. 7, the Law of the Ladder).
Many internet marketing entrepreneurs use techniques and tools like mind mapping, keyword research, attraction marketing formula, magnetic sponsorship, and MindMeister to conduct market research and plan a successful marketing campaign. They then use the power of MyStory marketing, the You Inc brand, and hypnotic writing skills, in their marketing campaigns, to realistically deal with their brand’s position in the world that includes the Law of Duality. The objective is not to emphasize why your offer is better, in terms of features and functions, over that of the competition, but to develop a message that is recognized, accepted and agreed to so that it seduces and persuades the customer that what is offered is real. and it will work for them.
Marketing is not a product battle. This is the strategy you use to take advantage of the Law of Duality to ensure that your brand and product are one of the top two brands on the product ladder as the market turns into a two-horse race.
You can learn more about internet marketing and home business by reading the updates that will be posted on my blog in the coming weeks.
As a former General Dynamics engineer and management consultant at Deloitte … I am on a mission to empower people by increasing their financial literacy, enhancing their capacity for personal sustainability, and contributing to the program that has the goal of creating 100 Millionaires. by 2012.