STEP Analysis

2111 Words Jul 23rd, 2010 9 Pages
What is STEP Analysis?

A method used by management that provides the analysis which is based on the four external factors that may affect the organization’s performance. Social, Technological, Economic and Political are the four factors. This strategical tool helps the profitability of the company.

Factors

Social: The social factor helps a company to understand the ethical, cultural beliefs, demographics, lifestyles and education. These changes influence the growth of the company.

Technological: The change in the technological factors can change the company’s competitive area. Environmental, ecological ways. New strategies and products and the cost of improvising and innovation. And in the development of the product.

Economic: The
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Cadburys worked out with amul to make mithai and add chocolate like Indo Western style but it did not attract customers so Cadbury did intensive research and started promoting through different media and hit the slogan “just for kids in 90s”. Later on they shifted to the campaign for teenagers who shared the real taste of life, memorable instances which stayed in everyone’s life” like a girl dancing in the cricket field” this campaign was awarded the “campaign of century in India.” From here they targeted the campaign of consumption of chocolates amongst adults which was portrayed by Mr. Amitabh Bachan were different relations, special moments, festive occasions, reunions were showed with happiest moments with a slogan “kuch meeta ho jaya” this is an excellent technique of reaching the Indian cultural barrier of mithai the promotion of Cadbury cleverly put up to equalize a chocolate and a mithai.

Technological
Cadburys entered the Indian market where people could recognize the brand only with a purple cover. Technically the taste of the Indians in the
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