Literature Review : A Critical Review Of The STEEPLE Model

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All literature analysed can be collated under three themes. The literature review will examine how strategic marketing theories can assist in developing a comprehensive deliverable that will meet the industry partner’s goals. This includes an external environmental analysis, a competitive industry analysis and a strategic relationship analysis. Academic literature will be analysed with a specific focus on theory. Supporting literature will then be provided that either promotes or critiques the use of strategic marketing theory mentioned. The critiques of the theory will then be applied in relation to the deliverable and the industry partner’s goals.
External Analysis – Environmental Analysis
Ehlers (2009) argues that effective strategic marketing plans need to begin with a comprehensive analysis of a company’s current operational environment to identify the relevant opportunities, threats, strengths and weaknesses. Walker (2012) argues that identifying all potential macro trends that will influence decision making through the use of both qualitative and quantitative data will help companies determine the markets attractiveness. Kew and Stredwick (2008, p. 319) believe that factors incorporated within the STEEPLE model (i.e. social, technological, environmental, political, legal and ethical) can be used to help develop a company’s SWOT, determine a company’s strategic position and help that company predict possible circumstances they may encounter. Implementing
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