If you’re on the second rung, be honest about it in your marketing. Are bought infrequently and are linked with a negative experience (such as car batteries and caskets).Are used sporadically (such as luggage and lawn mowers).Meanwhile, low-interest products have fewer rungs and include items that:
Max out at about seven ladder rungs, because people can generally only remember seven brands in any particular category.Create a sense of personal pride (such as watches and cars).Are used frequently (such as cereal and toothpaste).The number of rungs on your market ladder depends upon whether you offer a high-interest or low-interest product or service because consumers want more options for the products they care most about. The product that’s second in consumers’ minds and has the second-highest market share is on the next rung, and each descending rung is occupied by the next-best-selling brand.Įach rung on the ladder generally has twice as many sales as the rung below and half as many as the rung above. Think of this as a ladder: The market leader is the first in the public’s mind and has the highest market share, and so it’s on the top rung. Every product category has a hierarchy of brands. While it’s ideal to be first in consumers’ minds, you can still have an effective marketing strategy if you’re not the market leader-the key is to know your position in the market and acknowledge it in your advertising. The Law of the Ladder and the Law of Duality explain how to leverage your position for more effective marketing. Be aware of your position on the market ladder, and use that to inform your message to consumers. Leverage Your Market PositionĮvery company wants to be a market leader, but few companies can be. If you market as though you are number one, consumers will reject it.Ĭontinue on to learn about ladder marketing and the Law of Duality. Ladder marketing says that the key is to know your position in the marketing hierarchy and acknowledge it in your advertising. What is a marketing ladder and how does it work? Why shouldn’t you pretend your product is number one if it isn’t? Like this article? Sign up for a free trial here. Shortform has the world's best summaries and analyses of books you should be reading. This article is an excerpt from the Shortform book guide to "The 22 Immutable Laws of Marketing" by Al Ries and Jack Trout.
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