Minnesota Mining and Manufacturing Company

1. CASE STUDY :

2. GROUP MEMBERS:-
SUMIT PAUL SINGH (10MI31018)
POLAMPALLY DHEERAJ (11CH10036)
SOURABH CHANCHAL (11CH10046)
SUNIL KUMAR (11CH10047)
SUPRITO BISWAS (11CH10048)
ASHISH MAHAWANE (11CH30006)
NAWAZ AHMED KHAN (11CH30012)
SAVA RISHABH SHARAD (11CH30020)

3. INTRODUCTION
Overview of the company
Minnesota Mining and Manufacturing
Company, popularly known as 3M Company
is an American multinational conglomerate
corporation based in St. Paul, Minnesota.
•The
•The
•3M
founders are : Dr. Danley Budd
Henry Bryan
Hermon Cable
John Dwan
William McGonagle.
employs 88,000 people worldwide and
produces about 60,000 products.

4. SWOT Analysis
Strengths


Diversified businesses - industrial
and transportation, healthcare,
display and graphics, consumer
and office, safety, security and
protection services, and electro
and communications.
Strong research and development
capability

Diversified geographic presence

Solid revenue & profit growth
Weaknesses

Low inventory turnover which
impacts inventories and margins

Weaker than expected
performance in key segments

Not as nimble as smaller, more
focused competitors

Lack of synergy between business
units

5. Opportunities

Acquisitions in key operating areas

Continued global expansion

Security concerns with weaker
economy in the US could present
opportunities for 3M's security
business
Threats

Markets similar to areas it is
currently in, such as renewable
energy, water infrastructure,
architecture, and lighting.

Rising commodity and energy
prices

Exchange rates fluctuations

Environmental regulations

Consumer preferences and
competitive conditions

6. What types of Customers make up 3M
target Markets?

3M follows Full Market Coverage as its Targeting Strategy.

3M serves customers through five business groups, which increase speed
and efficiency by sharing technological, manufacturing, marketing and
other resources.

7. Five business groups are:
1.
Household Consumers
2.
Electronics and Energy
3.
Health care
4.
Industrial
5.
Safety and Graphics

8. Percentage Analysis of different types of Products

9. Is 3M attempting to practice the
marketing concept? Explain.

Yes, 3M is practicing the marketing concept.

Marketing Concept means that the company determines the
needs and wants of target markets and deliver the desired
satisfaction to customer more effectively and efficiently.

In simple words Marketing concept means that the company
focuses on needs of the customers rather than what they make.

To make sure that its products satisfy the needs of the customers 3M
listens carefully to customer problems and learns about their
businesses.

10. 
After a new product is developed at 3M , it is shared with key users
feedback is used to make modifications that precisely target
feature and performance requirements.

From automotive and packaging systems to medical products to
simple supplies that keep offices running, 3M is renowned for filling
customers need.

11. What evidence is there that 3M has
a Market Orientation?
Market Orientation : A business approach or philosophy that focuses
on identifying and meeting the stated or hidden needs or wants of
customers.

3M is renowned for filling its customer needs.

For more than 30 years Boeing has counted on
3M talent for creating products that meets
its specialized needs.

12. 
Ford Motor Company's close relationship
with 3M helps both organizations find
optimum uses for 3M materials and technology.

When NASA decided to get help from private industry it chose 3M as the
preferred company because of its research prowess and reputation for
quality.

Abbott Laboratories and 3M cooperated with each other to offer more
than 5000 products and cutting edge electronic order entry services to
help hospitals lower the costs.

In homes, offices and factories in more than 50 countries people use 3M
products everyday and 3M continues to develop the new products
according to customer needs.

13. RECENT TECHNOLOGIES AND PRODUCTS OF 3M

3M also helped Trend Enterprises develop motivational classroom
materials by putting one of its technologies to work in “Scratch and
Sniff” stickers.

3M most recent additions for customer help includes an anti-theft
device, a privacy filter for personal computers and an ultra-thin
lamp for airplane instrument panels.

14. CONCLUSION

Today, 3M is one of the 30 companies included in the Dow Jones
Industrial Average (added on August 9, 1976), and is 97 on the
2011 Fortune 500 list.

The company has 132 plants and over 67,000 employees
worldwide, with sales offices in over 200 countries.

Its worldwide sales are over $20 billion, with international sales 58%
of that total.

3M follows a business model based on "the ability to not only
develop unique products, but also to manufacture them efficiently
and consistently around the world”.