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Is P&G the new 3M?

Posted by: Bruce Nussbaum on November 2, 2005

In the welter of quarterly profits announcements this week, don’t forget to delve into those of P&G. It did great—significantly better than its competitors. The reason? New products and new versions of old products that command higher prices. There were new versions of Tide and Downy and the new Swiffer carpet sweeper. Is P&G the new 3M? Maybe. It added 141 new items worldwide, according to Deutsche Bank Securities, eight times more than Kimberly-Clark. P&G’s profit growth is much higher than it’s competitors. New products can command higher prices and P&G is reaping the rewards.

AG Lafely CEO and innovation-driver Claudia Kotchka deserve a round of applause from P&G’s customers and shareholders. In an era of commoditization, they are pushing design and innovation deep down into P&G. P&G is the one to benchmark on innovation folks.

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Want to stop talking about innovation and learn how to make it work for you? Bruce Nussbaum takes you deep into the latest thinking about innovation and design with daily scoops, provocative perspectives and case studies. Nussbaum is at the center of a global conversation on the growing discipline of innovation and the deepening field of design thinking. Read him to discover what social networking works—and what doesn’t. Discover where service innovation is going and how experience design is shaping up. Learn which schools are graduating the most creative talent and which consulting firms are the hottest. And get his take on what the smartest companies are doing in the U.S., Asia and Europe, far ahead of the pack.

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