The Law of the Category ... Ries & Trout as explained by Mike Farrell with aspenIbiz

This post is a follow up to my recent tweet about The Law of the Category.

If you didn’t know the name of the second person to fly solo across the Atlantic, you are probably thinking you have no chance of knowing the third person to fly solo across the Atlantic ... but you do ... it is Amelia Earhart ... however she is better known as the first woman to fly solo across the Atlantic – a new category.

Creating categories is counter to classical marketing thinking which is brand oriented. Forget the brand – think categories. Leads for your business are on the defensive because everyone is selling why their brand is better. But prospects have an open mind when it comes to categories because everyone is interested in what’s new ... few are interested in what’s better.

Let me conclude with a couple more examples. After Heineken, a high-priced (and imported) beer, became a success, Anheuser Bush created and promoted Michelob ... a high-priced domestic (a new category) beer and Michelob outsells Heineken by 2:1. Charles Schwab didn’t open a better brokerage firm ... he opened the 1st discount broker (a new category).

Many Internet Marketing entrepreneurs are using “MyStory” marketing to define their category and be first in their category with brand You, Inc. ... marketing is a battle of perceptions, not products.

You can find out more about Internet Marketing and home-based businesses by reading updates that will be posted at my blog over the next few weeks.

As a former engineer with General Dynamics and management consultant at Deloitte ... I am on a mission to empower individuals by increasing their financial literacy, improve their ability for personal sustainability, and contribute to the program that has a goal of creating 100 Millionaires by 2012.

Until next time, I invite you to:

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When not traveling for business or pleasure, Mike operates his own Internet Marketing company and consulting firm from his home in the mountains of Colorado.

In closing, if you are an entrepreneur, a business owner, employed in an 8-5 job, or recently retired, yet still wanting to be plugged-in to the next wave of economic prosperity, you can join me in pursuing the lifestyle you want to live by following this link to aspenIbiz .