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The only way for brands to succeed and survive today is to adapt to the speed of culture. Innovation is central to this ambition, and every marketer dreams of pulling it off. But innovation is a bit like going to heaven – everybody wants to go, but nobody wants to die. This is not to say that the journey of innovation is as terrifying as death, but there are certainly challenges along the way. These need to be spotted early and resolved upfront so that innovation becomes a journey of growth and success rather than frustration and stillborn initiatives. Innovation needs more than marketing. It’s nearly impossible to pull off innovation in the field of marketing without the processes of product development, distribution, technology and pricing strategy – which is all fine when considering that these all fall within the old “five Ps” of marketing. However, the unfortunate reality is that the only P left in the marketing domain is that of promotion. All the others have been apportioned ...

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