What role does marketing research play in the development of the SWOT analysis for a company?

Question

What role does marketing research play in the development of the SWOT analysis for a company?​

Quizplus · Accepted Answer

Marketing research is crucial in assessing a company's strengths and weaknesses, which are two of the elements in a SWOT analysis. By conducting marketing research, a company can gather data on its own performance, analyze its competitors, and evaluate its customers' needs and preferences, among other things. This information can be used to identify the company's strengths and weaknesses, which are internal factors that can affect its ability to compete effectively in the market. Therefore, marketing research plays a vital role in the development of the SWOT analysis, particularly in the assessment of a company's internal environment.

What Role Does Marketing Research Play in the Development of the SWOT