3M Business Report: Market Analysis, Industry, and Product Innovation

This report provides a detailed analysis of 3M's market segments and industry position, highlighting its focus on science and technology across various sectors. It identifies 3M as a conglomerate that manufactures over 55,000 products, including personal protective equipment, healthcare solutions, and electronic materials, emphasizing its commitment to user-friendly designs and problem-solving innovations. The report further discusses 3M's recent innovations in healthcare, specifically in diabetes management and food safety, showcasing advancements like microfluidic technology, hydrophilic films for glucose testing, and Petrifilms for microbial bacteria detection. These innovations demonstrate 3M's dedication to research and development, aimed at enhancing product range and addressing market demands, with a strong emphasis on integrating technological features into everyday products.

BUSINESS MANAGEMENT
WITH MARKETING

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Contents
Major market and Industry that 3M serves........................................................................................1
New product that company has introduced .......................................................................................1
References.............................................................................................................................................3

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Major market and Industry that 3M serves
3M deals in the business of many things but the major market in which it works is the
science and technology. This company is known for its innovations that help in manufacture
products that are capable of solving problem related to the daily lives of people (Boh,
Evaristo and Ouderkirk, 2014). It serves for the industry named Conglomerate and hence
deals in the business of many items. It is manufacturing more than 55,000 products which
involves personal protective equipment, electronic materials, laminates, passive fire
protection, Health care products, passive fire protection, dental and orthodontic products,
Car-care products, electronic circuits, optical films, software for health care. This company is
producing wide range products that are user friendly and providing solutions to many day to
day personal life problems (Garud, Gehman and Kumaraswamy, 2011). With its diversified
range of products this company is market leader in the industry and is employing
approximately 90000 people. It is operating its business in more than 65 nations. This
company believes in manufacturing products as per the demand of the consumers and
different markets. With the help of such a large laboratory facilities and with experienced
researchers they are easily producing such a wide variety of products. One of the basic ideas
of their business is to add technological features in the daily life products so as to make it
more users friendly.
New product that company has introduced
This company is known for making new products as per the demand of the society
and market. This company invests a lot for the research purpose which helps in enhancing its
product range (3M science applied to life, 2018). Recent innovations in Health Care done by
3M is in the fields of diabetes and plating up food safety. In the diabetes it has invented new
medical equipment that helps in monitoring diabetic symptoms. In order to help in making
glucose testing easier, they have developed increased microfluidic technology and
hydrophilic films that enables multiple fluid test that is to be performed on a single chip
rather than being in a full-flagged laboratory. In order to maintain a skin that is healthy or
help manage wounds associated with diabetes they have developed a new range of support
skin health products which includes the medicine, ointments. All this system helps a person
to manage their diabetes check-up from time to time especially before and after the food
intake. They have also developed one drop diabetic test for checking the blood sugar level.
In their food test that helps in detection of microbial bacteria in the food products. Ready to
use Petrifilms helps in detecting of the bacteria like E-coli and listeria to Staph, Yeast, Mold

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and salmonella. This test reduces the waste by around 66 % and it is utilising 76 % less
amount of energy that is currently used for testing of the food (3M science applied to life,
2018). Apart from this 3M has developed new silicon dressing that is managing wounds in a
much better was an important innovation in injury prevention programs. It has also developed
new kind of blankets which is known as Multi-Position Upper body Warming blanket.
References
Boh, W.F., Evaristo, R. and Ouderkirk, A., 2014. Balancing breadth and depth of expertise
for innovation: A 3M story. Research Policy, 43(2), pp.349-366.
Garud, R., Gehman, J. and Kumaraswamy, A., 2011. Complexity arrangements for sustained
innovation: Lessons from 3M Corporation. Organization Studies, 32(6), pp.737-767.

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3M science applied to life, 2018. Medical. [Online]. Available at:
https://www.3m.com/3M/en_US/medical-us/. [Accessed on: 13th February 2018].
3M science applied to life, 2018. 3M Health care. [Online]. Available at:
https://www.3m.com/3M/en_US/health-care-us/. [Accessed on: 13th February 2018].