STEEP-C

Definition - A STEEP-C analysis is a tool commonly used in marketing to evaluate different external factors that impact an organization. It is essential for every business to consider some external forces before they can take decisions.

Social - Technology - Economic - Environmental - Political - Competitors

Societal trends - Example: Men growing beards, having negative impact on razor and shaving cream industry. Example: Keto, Low carb diet trends all affect restaurant owners. They must adjust to these kinds of things. They must pay attention to these trends to avoid losing business.

Technology trends - Mobility & being able to access anything anywhere you are. 3d printing is technological innovation that is having impact on manufacturing. Replacing parts in field rather than having to order them. That's a technological trend.

Economic trends - North Carolina had thriving textile base (furniture manufacturing base). What happened, industry changed because of globalization, global supply chains - decimated furniture industry. Now they pay close attention to economic indicators.

Environmental Trends - Example: Climate change. Sustainability. Many companies now have this in their stated cause or mission statement. Organizations that you would not normally participate in this kind of thing, now participate.

QUESTION: Name EIGHT external factors for each type of trend that would affect AIRLINES. (Example: Covid-19 would affect amount of airline tickets being purchased).