IvyPanda Home Page > Writing Tools > STEEP Analysis Template

STEEP Analysis Template for Free + Examples

To use the STEEP analysis template, perform 3 simple actions: input the data, pick the best design, and hit the button to get the result. Try it out yourself!

Looking for a STEEP analysis template? The STEEP online tool above is free and easy-to-use. Go on reading to learn how to conduct a STEEPLE analysis.

Table of Contents
(clickable)
  1. 👉 How to Use the Template
  2. 🔑 What Is STEEP Framework?
  3. 🥤 STEEP Analysis Example – PepsiCo
  4. 🎁 STEEP Template Benefits
  5. 🔗 References

👉 How to Use STEEP Analysis Template

To conduct STEEP analysis, you need to gather data and follow this plan:

  • Gather the components you are going to analyze.
  • Evaluate the relationships between multiple trends.
  • Connect the problems to the trends.
  • Predict the future course of the issues.
  • Calculate the repercussions.

For a more detailed explanation, check out the sections below

🔑 STEEP Framework Explained

Analysts, businesspeople, and researchers use STEEP analysis to understand how economic downturns and (im-)proper investments impact the planning process of a company. Read below to get more information about the STEEP framework.

The picture provides an introductory explanation of STEEP analysis.

What Is STEEP Analysis?

The STEEP (social, technological, economic, environmental, and political) analysis is an extended version of the PEST analysis. This method is frequently used in marketing to assess external (macro) elements that impact a firm. The STEEP framework can also forecast potential events within the company and help thoroughly understand what external factors influence the major trends.

How to Conduct a STEEP Analysis?

To use the framework of STEEP analysis, you have to take 5 fundamental steps:

  1. Determine each group of factors. You must find current events or trends proving the factor's existence. Additionally, you need to comprehend the historical development of these trends and their short and long-term effects.
  2. Assess the connection between the trends. Determining how each trend interacts with one of the five external areas is crucial. Find the conflicts and determine how trends are related to one another.
  3. Relate trends to a business issue. These are trends that have the potential to either support or undermine a company's ability to execute its strategy. The company should choose the methods that have the most excellent chance of having an impact.
  4. Identify the course of potential issues. This process goes beyond merely compiling data. It would help if you determined the driving forces behind the fundamental problems and the causes of trends.
  5. Conclude the results. A firm conclusion should explain the possible effects of many environmental influences on business success. Overall, it must determine how the external environment will impact the current and future strategies.

Differences Between SWOT, PEST, and STEEP

SWOT, STEEP, and PEST analysis have much in common, yet they still differ. For example, the most critical distinction of the STEEP analysis is that it covers environmental factors.

  • A PEST study discovers political, economic, social, and technological factors evaluating market trends and changes.
  • A SWOT analysis is a subjective evaluation of company information that helps understand and discuss data and make crucial decisions. This approach can also evaluate the company's competencies, business solutions, and organizational capabilities.
The picture explains each factor of STEEPLE analysis.

🥤 STEEP Examples: PepsiCo Analysis

PepsiCo is the leading international beverage seller after Coca-Cola. The market reach of Pepsi is likewise very varied. Pepsi is available practically everywhere, from the US to New Zealand. Here is the STEEP analysis example of PepsiCo:

Social factor For Pepsi to alter people's perceptions, it is necessary to perform as a worldwide brand that connects people. That is, one of the keys to success is researching and understanding the peculiarities of local markets.
Technological factor With the speed of technology development, Pepsi must work to keep on top of innovations. As a result, the company will increase brand engagement and recall among young consumers.
Economic factor The economic downturn in 2008 had a significant impact on the global economy. However, it increased Pepsi sales as many people started spending a lot of time at home with families, consuming different PepsiCo company products.
Environmental factor Environmental factors may affect PepsiCo at different stages of its production. For example, access to natural resources, international trade, logistics, and other aspects.
Political factor The political environment is crucial since some markets may have civil unrest. Pepsi must comply with all rules and regulations to make the necessary adjustments.

🎁 STEEP Analysis Template Benefits

Our STEEP analysis template tool has many benefits:

  1. Simplicity. The tool is simple and easy to use. It will save a lot of your time and effort.
  2. Flexible design. The design of our tool is one of its most prominent benefits; you can create anything you want.
  3. Speed & accuracy. Our online tool is automatic; there is no need to wait long hours to conduct the analysis – just a couple of clicks!
  4. No-fee service. You can use our STEEP analysis template whenever you need it without spending a cent.
  5. Accessibility online. Access our online tool from any device with just an internet connection.

Thank you for reading this article! We hope that the information above was useful. Check our other online writing tools to polish your assignment or get inspired.

Updated:

🔗 References