3M has a history of developing new technologies and successfully managing product offers. Today, the 3M product offer is a true global portfolio that spans sectors, channels, business and consumer markets, and is a result of every kind of growth model (acquisition, innovation and consolidation). Streamlining the portfolios of 3M require considered tools that define value, respect synergies, and reveal future opportunities – it is not as simple as, “cutting the long tail” or rationalizing SKUs.
Catapult was engaged by 3M to work with a cross-functional brand, design and marketing group to author a 3M-proprietary protocol that teams could use to develop more comprehensive portfolio strategies to manage their offers. We developed a process and working toolset that stepped teams through a product line logic process, taking into account the brand, consumer, category and product perspectives. We refined the process through scrimmages with three lines of business, and then packaged the toolset so that internal 3M teams could facilitate the process with category product management teams.