When it comes to innovation, many executives in the consumer goods industry are chasing Apple. Who can blame them? While most retailers spent the holiday season slashing prices, Apple reported record earnings by enchanting audiences with iPhones. Now, as retailers try to re-engage consumers this year, executives are trying to replicate the “Apple thrill.” But focusing exclusively on product innovation is a mistake for most companies, say executives who gathered recently at Berglass + Associates, my company, to discuss innovation.
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