Beware the folly that many business leaders fall into of thinking that categories are converging. Law of Division – over time, a market will divide into 2 or more.Law of the Opposite – if you’re shooting for second place, your strategy is determined by the leader, leveraging their strength into a weakness.Third place is a difficult place to be (called the trouble Sprint was in as the number 3 player) Law of Duality – in every market, it eventually becomes a 2-horse race, with about equal market share.Ok if number 2, but have to admit to it and use it to your advantage (Avis – we’re number 2 and we work harder because of it) Your marketing strategy should depend on how soon you got into the mind and consequently which rung of the ladder you occupy. On each rung of this ladder is a brand name. Law of the Ladder – There is a hierarchy in the mind that prospects use in making decisions.Law of Exclusivity – two companies cannot own the same word in a prospect’s mind.This word must be unique and others be willing to take the opposite stance (quality can’t be your word because nobody would take the opposite) Come to dominate one word/attribute and people will give you the benefit of the doubt with others too. Law of focus – the most powerful force in marketing is owning a word in a prospect’s mind.Law of perception – marketing not a battle of products, but a battle of perception.Changing people’s minds is nearly impossible – you have to blast into people’s minds rather than trying to slowly change it over time Law of the mind – better to be first in people’s minds than first in the marketplace.Forget about brands, focus on the category Law of the category – if you can’t be first in your category, create a new one you can be first in.Law of leadership – Better to be first than it is to be better.Ries and Trout’s seminal book on marketing.