Swot Analysis Of 3m

When it began more than a century ago as the Minnesota Mining and Manufacturing Co. –the simple goal of the five founders was to extract a mineral called corundum from a mine called Crystal Bay. What was born as a small-scale mining venture in 1902 has grown into a global powerhouse 3M whose products improve the daily lives of people around the world.

The mine didn’t produce much corundum, but something more much important was born that year: the spirit of innovation and collaboration that forms the foundation of today’s 3M. The company slowly moved to other products, while the sales grew a little every year. With every technical and marketing innovation being a success the company grew bigger. Today 3M is behind 60,000 products used

In addition, of course, we also have our strategic brands, which provide further relevance and differentiation in key market categories.

3M Brand Identity Objectives

The objectives of our brand identity system are to:

• Manage the 3M brand globally - expressing our promise, personality and values.

• Build the ability of the 3M brand and strategic brands to instill familiarity, reinforce brand/product experience and protect our equity.

• Provide tools to facilitate consistent and effective delivery of the brand promise with every point of contact.

3M Brand Identity Strategies

To build a truly global brand, we need to maximize awareness and relevance of our single, unifying 3M brand. To achieve this, our strategies are to:

• Increase familiarity of the 3M brand identity through consistent application of our identity standards worldwide.

• Build equity in identity assets that are globally recognized.

• Build market leadership in every market we serve.

The main struggle was maintaining the quality and marketing of its products. The management encouraged its workforce to develop new products and also innovate, which later became its core business. After 12 years of its inception, 3M developed its first exclusive product: Three-M-ite cloth. Masking tape, waterproof sandpaper, and Scotch brand tapes were other innovations. In 1929, 3M made its first international expansion to Europe by forming Durex. The same year, Also the company’s stock was first issued in the same year and in 1946 listed on the New York Stock Exchange (NYSE). The company is now a component of the Dow Jones Industrial Average and of the S&P