Tool details
STEEPV Analysis
A market analysis that gives an overarching view over the macro-environmental factors/trends facing an organisation. Also called PESTEL, PEST, STEEP.
Tool category:
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When to use
During an research phase to gain insight into the market and how it might develop
Why you should
To detect and understand broad long-term trends that shape a market
What you get
Overview of external opportunities and threats relevant to a business
Steps to take
Define your industry
Go through each category and ensure a shared understanding of each category and the level of details and scope to include.
Do research for each categories and try to back everything up with data. (Remember that this exercise is to identify external factors and company specific factors are not to be included)
Fill in the canvas with the research findings relevant to each category
Take the time to analyse the end result and implications of your findings. Look for opportunities and threats to your business (input to SWOT)
References & Links
