I would explain the usage of 将 like this:
将 + Object + AdverbialPart.
AdverbialPart = InfiniteVerb + ResultOfAction
The AdverbialPart is often in the form of sort of a perfect aspect of the verb.
For example: eaten = 吃掉, where 吃 is the basic form of the verb, and 掉 means the action has finished, i.e. perfect aspect. And most basic way to construct it is adding 了 behind the action. Which will give us 把/将XX吃掉/了.
However, some words themselves can be used to express perfect aspect or you can say their perfect forms are the same as their original forms. 结合 is one of those. So you can say Subject + 把/将 + Object1 + 和 + Object2 + [相] + 结合
Regarding your change to the sentence, I think it's alright, but there might be some subtle difference that I will try to illustrate with following translations in English
...combined product innovation tightly with urban culture and metropolis dwellers' nostalgic mentality.
Product innovation combined urban culture and metropolis dwellers' nostalgic mentality.
So you see, the subject and object have changed during the transform. Product innovation was one of the object, or I'd say the primary object of the combination action. And in the transformed sentence, it became the subject. It became "combinor", but not necessarily "combined".
And the arguments of 结合 is a list of objects which can be separated by "、" and other parallel conjunction such as 和、与、以及.
结合<Object1>、<Object2>、 ... 和<ObjectN>。
Also same as in English, 结合 could be either active or passive action.