A look at the two sets of inserts in our daily Gannett paper recently indicate that brand extensions are the "thing" of the moment -- and that real basic innovation in new products may be reaching new lows. It is already down from 13.4% of all items introduced in 1989 to 5.1% in 1993. Spic and Span from Procter & Gamble Co. is not only now an "Ultra" version, but the original and pine versions have "bathroom cleaner" variety. All with an "ultra measuring cap" as the screw-top. Comet, ...

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