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At February’s Interactive Advertising Bureau annual Leadership Meeting, the trade organization’s CEO, Randall Rothenberg, opened the three-day event by walking the audience through the history of branding, starting with what he says is the beginning of the consumer economy, Procter & Gamble’s Ivory soap, from 1879, and culminating with the term du jour, “direct brand”—the new model that allows, he says, brands to connect directly with the end consumer.

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