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Procter & Gamble Commits To Increase Innovation Threefold

November 20, 2012: 12:00 AM EST
Procter & Gamble plans to expand its product development in the next five years, according to P&G new business creation group president Jorge Mesquita who spoke at the company’s 2012 meeting for analysts. P&G will launch three times as many “change innovations,” or products that “reset the competitive bar in the category,” Mesquita said. At present, P&G invests $2 billion each year on research and development, focusing on innovations in products and brands that will “obsolete existing segments” and those that will benefit underserved consumer groups.
Rosie Baker, "P&G to triple rate of innovation", Marketing Week, November 20, 2012, © Centaur Media plc
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