Recently Charlie Rose had the guest, A. G. Lafley, CEO of Procter & Gamble (P&G). Following the show were several posts which called into question the lack of bio-degradable products, tax incentive for locating their new plant in Utah, and Mr. Rose dropping the ball by allowing these points to slide. While these are valid topics for discussion, the objective of the interview revolved around “marketing” and how “innovation” is used by P&G successfully. Charlie Rose clarified the purpose quickly with ‘So it is primarily about innovation’ and asked “What is Innovation?” If we can think along this premise as we watch, we may hear more about marketing innovation and gain valuable insight.
According to Wikipedia: “Innovation is typically understood as the successful introduction of something new and useful, for example introducing new methods, techniques, or practices or new or altered products and services.” Webster dictionary calls innovation “a new idea, method, or device.” A synonym may be novelty. Today the actual word ‘innovation’ is used to sell expensive cars, market high speed Internet, prompt consumers to use gadgets that are tricky to install, and so on. It signifies current development, but never goes out of style. P&G regards innovation as something else.
As business owners seeking deserved attention from would be buyers, we must find innovative ways to rise above the rest. To loosely quote Mr. Lafley, ‘Like it or not, this world is a smaller, flatter place, is less predictable, with bigger changes. Innovation has to play a role. We must become more agile, flexible, and more educated.’ Furthermore he adds, ‘In the end - you don’t have an innovation until she {or he} is willing to part with her {or his} hard earned cash for that new product or service.’ Please listen (click the top link in the post) with the purpose of clarifying innovation for yourself, and how it fits into marketing your own business.
~m_99
Quote:
"I believe that there is a place in the spectrum of television for really good conversation, if it is informed, spirited, and soulful."
~ Charlie Rose
