3M (CORPORATION STORY)

GROUP MEMBERS
1 ARSHNOR SINGH – 1720991026
2 AUJAS MARWAHA - 1720991028
 ABOUT-3M
The 3M Company, formerly known as the Minnesota Mining and Manufacturing
Company, is an American multinational conglomerate corporation operating in the
fields of industry, worker safety, health care, and consumer goods. The company
produces over 60,000 products under several world-renowned
brands, including adhesives, abrasives, laminates, passive fire protection, , window
films, paint protection films, dental and orthodontic products, electrical & electronic
connecting and insulating materials, medical products, car-care products, electronic
circuits, healthcare.
3M made $32.8 billion of total sales in 2018 and ranks number 95 in the Fortune
500 list of the largest United States corporations by total revenue. As of 2018, the
company has approximately 93,500 employees, and has operations in more than 70
countries. software and optical films. It is based in Maplewood, Minnesota,
HISTORY OF THE 3M CORPORATION
Five businessmen founded 3M in Two Harbours, Minnesota, in
1902. Originally a mining venture, the goal was to mine corundum, but
this failed because the mine's mineral holdings were anorthosite, which
had no commercial value. Co-founder John Dwan solicited funds in
exchange for stock and Edgar Ober and Lucius Ordway took over the
company in 1905. The company moved to Duluth and began
researching and producing sandpaper products. William L. McKnight,
later a key executive, joined the company in 1907, and A. G.
Bush joined in 1909. 3M finally became financially stable in 1916 and
was able to pay dividends.
The John Dawn Office Building, where 3M was founded now
a museum in Saint Paul, Minnesota, USA
 PROBLEM IDENTIFICATION
• The Medical – Surgical Division focused largely on surgical drapes and surgical prepping.
• 3M was highly penetrated on a niche for surgical drapes and prepping in US market.
• But sales in US had limited growth and overseas markets were limited by high cost of 3M products.
• Because of these reasons the business unit had gone almost a decade with only one successful product.
 TRADITIONAL APPROACH
- Marketing input traditionally came from current customers and sales
representatives.
- 3M usually hires small research firms for market research reports.
- Tools used by 3M to identify market needs:
• Data from sales representatives
• Focus groups
• Customer evaluations of current products
• Site visits by 3m Scientists and technologists
Q&A ROUND
Q1 WHAT IS A CONGLOMERATE
CORPORATION ?

A) BUSINESS ENTITYS OPERTING UNDER A PARENT

COMPANY
B) A MERGER COMPANY
C) A PUBLIC AND PRIVATE ltd CORORATION
A) BUSINESS ENTITYS OPERTING UNDER A
PARENT COMPANY
Q2 WHERE ARE THE HEADQUARTERS
OF THE COMPANY ?
A) California
B) Saint Paul, Minnesota
C) Silicon valley
B) Saint Paul, Minnesota
THANK YOU