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SWOT Analysis & Market Research (method to evaluate/examine/look at…
SWOT Analysis & Market Research
(method to evaluate/examine/look at a business and understand the market)
Market Research
(Studying the market and customers to make better decisions).
Primary Data
(field research)
Advantages (specific data/clear facts)
Disadvantages (time-consuming/slow)
Focus Groups, Product Tests, Questionnaires,Street Interviews
Secondary Data
(Existing information from other sources)
External sources
Internal sources
Advantages (cheaper, faster)
Disadvantages (not accurate).
Quantitative Research
Qualitative Research
SWOT Analysis
(Understanding what helps or damages your business).
Strengths
Good reputation
Competitive advantages
Access to distribution channels
Weaknesses
Lack of expertise
High costs or low market
Opportunities
Growth factors
Demographic changes
Threats
Regulations/Rules
Economic downturns
Substitutes
Integration
(How SWOT and Market Research work together)
Market Research Helps SWOT Analysis:
Finds opportunities
Identifies weaknesses
How to Use These Tools
match strengths with opportunities
apply Market Research findings to improve strategy