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Procter & Gamble's mantra, "The consumer is boss," has become a part of the fabric of marketing. But there's another related concept that is also critical to the company's successful record of innovation, according to P&G group president, North America Melanie L. Healey.

"You need to be purpose-driven. You need to know what it is that you really want to do for the consumer," she told attendees at last week's Magazine Innovation Summit in New York, the Magazine Publishers Association's new format for its annual conference.

P&G Exec: Innovation Needs To Be Purpose-Driven