Market Research Market research is a great way to tweak your marketing strategy to meet the market's needs. How you go about it may differ from business to business. Market research is a key factor in maintaining competitiveness over competitors.
The wide usage of Internet-inspired marketing experts to have a new look at the well-known 4Ps by MacCarthy. The product, Price, and Place Promotion are the basis and will always be considered. However, they are now supplemented by the S.A.V.E. model by Eduardo Conrado, Senior Vice President of Marketing and I.T. at Motorola Solutions—a New Marketing Mix Solution.
SWOT analysis looks at strengths, weaknesses, opportunities, and threats. Strengths give an advantage, weaknesses are a disadvantage, opportunities can be exploited, and threats can cause trouble.