3M

Innovative Advertising and Brand Communication Strategies of 3M



Innovative Advertising and Brand Communication Strategies of 3M

Introduction

In 1930, he invented scotch tape, and then extended the use 3M adhesives, surgical and pharmaceutical fields, and even aircraft with structural adhesives for metal joints in aircraft. As a global company, 3M began operations in 1929, when installed in the UK, consolidating its international operations organization in the 50's (Varey, 2004, 300). In the 70 and 80, the expansion took place in markets as diverse as pharmaceuticals, telecommunications, electronics, computers or office, creating among other magnetic tape sound recording and video later, the thermal fax, the popular Scotch-Brite and many products for health and dental care, among others (Moore, Farrar, Collins, 2004, 104).

3M bases its success on an innovative culture clearly looking for a side meeting the needs of customers with quality, value and excellent service, and on the other hand, employees feel proud to belong to 3M, this has helped to achieve a century history, 2002 marks the hundredth anniversary of constant innovation at 3M, and be accessed, to a wide range of markets and sectors of economic activity, leaving their mark all (Moore, Farrar, Collins, 2004, 104). 3M's culture is based on innovation, without it, could hardly achieve its goal of 30 percent of annual sales come from products launched during the last 4 years, and besides, 10% of sales made on products sold in the past year. The engine of innovation for 3M is to provide solutions to customers and consumers in any industry or market.

To achieve the goals proposed, 3M invests almost 7 percent of annual sales on research, development and related expenses (more than 5 billion dollars over the past 5 years) and employs more than 7,000 researchers around the world who can spend up to 15 percent of their time on projects of their choice (Reynolds, Olson, 2005, 201). Thanks to this policy has developed leading products such as Scotch tape, Scotchlite retro-reflective coating The Scotch-Brite pad or repositionable Post-It notes. 3M is part of the history of innovation; its practitioners have made the company more patents worldwide.

Discussion and Analysis

Each day, one in four people on Earth uses a 3M product. Put another way, 25% of the world population into contact with 3M for 24 hours. This is because for the company's needs and problems of their customers are translated into innovative solutions. Visionary companies have a very peculiar feature: you never know, and probably they do not know, with what will come out. Without doubt, 3M is a visionary company (Hiles, Barnes, 2004, 301). It was from the beginning, because despite an initial failure when trying to undertake mining of corundum, bent over backwards to not disappear. To stay alive he spent several months trying to come up with anything that might be viable. Finally, the founders decided to abandon the mining and manufacturing switch to sandpaper. That's how successful 3M shifted as just as the auto industry grew by leaps and ...