Marketing Analysis : 3m Brand

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voice concern and needs in order to create or improve products. Customers are able to voice ideas, 3M considers and refines them, and then attempts to create the product. All in all, this Lean Six Sigma allows for 3M’s company to maintain value, quality, relevance and constant improvement within their products and segments. The 3M brand promises “practical and ingenious solutions that help customers succeed.” Through their brand identity system, 3M has been able to and continues to strive to dominate global industries. 3M’s brand identity objectives include the management of 3M globally, increasing familiarity through consistent reinforcement of brand experience, and lastly the provision of consistent and efficient service. 3M executes…show more content…
3M begins their innovation process with strategic thinking, portfolio metrics and research, and caps the process off with implementation and deployment of capital and resources to create the innovation. 3M’s core technology platform allows the company to develop unique products and solutions that are drawn from 40 core technologies. This sharing of technology, brands and operations allow the business to increase speed and efficiency. This combination of technologies creates a steady stream of new and innovative products. This diversity in usage of technology protects the company against demand fluctuations and other risks. The 3M powerhouse performed very well this past year, generating $31.8 billion in revenue in the 2014 fiscal year. This was a three-point-one percent increase from total revenue in the 2013 fiscal year, and was an all-time high for the company. Domestically, 3M generated approximately $11.7 billion (36.8%) in revenue in 2014. Globally, 3M generated around 20 billion in revenue. Revenue has continued to rise year by year, showing that the companies revenue really has no limits. To generate these immense revenues, 3M spends around $24.7 billion in expenses. Some major expense categories for 3M globally include the cost of sales, the cost of general and administrative expenses and R & D (research and development) expenses. The cost of manufacturing, engineering and freight account for 51.7% of

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