At Brand Innovation Labs, Fighting Competition of the 'Unknown'
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A smart suitcase? A digitized bottle of booze? A comic book for big-box executives?
Recently, several brands have carved out off-site locations devoted to innovation to stave off competition. Marketers there serve, in part, as R&D directors.
Kyle Nel, the executive director of Lowe’s Innovation Labs, described his role as fighting the competition of the “the unknown”: unforeseen new firms and technologies that have the potential to swiftly topple established category leaders. Joining Mr. Nel on stage for a “Marketers Driving Innovation” panel at the Ad Age Digital Conference were Mark Nagel, executive director of the AT&T Foundry; Venky Balakrishnan, global VP, digital innovation, Diageo; and Adam Kleinberg, CEO of Traction, an interactive agency.
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