It was a bold admission of failure by the chief brand officer of the world’s largest advertiser: “I confess that P&G believed the myth that we could be a ‘first mover’ on all of the latest shiny objects, despite the lack of standards and measurements and verification.”

Jumping on the latest emerging technology has not proven to be the basis for competitive advantage that P&G had hoped it would be, P&G’s Marc Pritchard told attendees at the Interactive Advertising Bureau’s Annual Leadership Meeting on Sunday. Instead, he has come to realize that brands and advertising craft are the real ways to stand out and get noticed.

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