Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of 3M analyses the brand by its strengths, weaknesses, opportunities & threats. In 3M SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like 3M to benchmark its business & performance as compared to the competitors. 3M is one of the leading brands in the conglomerates sector.
The article below lists the 3M SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the 3M SWOT Analysis:
For 3M, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of 3M looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of 3M :
1. Strong research and development capability with over 80,000 employees worldwide 2. Diversified business with over 55000 products in its portfolio 3. It has operations in over 65 countries and commands a strong brand name 4. Robust cash position and financially improving performance over the years
5. Its product reach through retailers and distributors is in nearly 200 countries
6. CSR activities for environmental benefits is a good way to enhance market position
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the 3M SWOT Analysis:
1. Environmental issues and litigations have sometime affected the image
2. Being a market leader, any mistake hurts the brand image world over
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in 3M SWOT Analysis:
1. Acquisitions to strengthen existing businesses 2. Automotive industry on road to recovery would mean more business
3. More global presence through tie-ups and diversification in businesses can lead to more growth
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of 3M are as mentioned:
1. Unfriendly environmental regulations and strct govt policies can affect position 2. Intense competition can lead to loss of market share 3. Risks associated with conducting business outside the US
There are several brands in the market which are competing for the same set of customers. Below are the top 9 competitors of 3M:
Industrial and transportation, Health care, Consumer and office, Safety, security, and healthcare services, Display and graphics and Electro and communications
Customers using industrial packaging, Industrial users of polymer and adhesives; Users of interior designing components, pharmaceuticals; orthodontic practitioners, users of stationeries and homecare products; computers and TV manufacturers; enterprise, military, aerospace markets
Creativity and process Innovation in various fields
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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