Luxury Lab Innovation Forum

Source: Business of Fashion, Nov 2010

‘Competition leads to incremental change, while real innovation is about “disruptive thinking” that breaks previous patterns of thought, he said, identifying Red Bull, Zipcar and Seinfeld as examples of innovative products that challenged fundamental assumptions in their respective markets — soft drinks, rental cars and sitcoms — and earned tremendous success.’

“The ability to digitally listen, respond and nurture a one-to-one relationship with the consumer is going to transform the way companies do business, ushering in a “thank you economy,” said Greg Vaynerchuk, a self-trained wine expert and social media consultant to companies like Google and Disney”

“a more reliable way to innovate is to look for new ideas in unpredictable places, then take an iterative approach to developing them, advised Mr. Johansson.”

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