CASE STUDY :

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)

GROUP MEMBERS:-

INTRODUCTION

Overview of the company•The Minnesota Mining and Manufacturing Company, popularly known as 3M Company is an American multinational conglomerate corporation based in St. Paul, Minnesota.

•The founders are : Dr. Danley Budd Henry Bryan Hermon Cable John Dwan William McGonagle.

•3M employs 88,000 people worldwide and produces about 60,000 products.

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

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 

Markets similar to areas it is currently in, such as renewable energy, water infrastructure, architecture, and lighting.

Threats Rising commodity and energy

prices

Exchange rates fluctuations 

Environmental regulations 

Consumer preferences and competitive conditions

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.

Five business groups are:

1. Household Consumers

2. Electronics and Energy

3. Health care

4. Industrial

5. Safety and Graphics

Percentage Analysis of different types of Products

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.

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.

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.

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.

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.

RECENT TECHNOLOGIES AND PRODUCTS OF 3M

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”.