Is the SWOC analysis term is used by the marketers these days instead of the traditional SWOT analysis?

Everyone who is thinking "why not?" and not "why?" is looking for a challenge behind a threat.
This is the only way for our next steps. 

both are same in How it works and the outcomes just “T” in SWOT changed to be “C”

Because the term Threat is originated from military strategy, Using “C” as Challenge or Constrains is recommended to create more positive attitude.

Challenge is replaced to represent an obstacle that can be achieved and using the motivation mind set to overcome your competitor

Yes both are same. Just that. SWOC is optimistic terms for SWOT.

Businesses use the Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis to determine the internal and external factors that directly influence their operations. If a business does not analyze its operations using SWOT analysis, it risks launching a product marketing campaign that is not successful. Another term for SWOT is SWOC, which stand for Strengths, Weaknesses, Opportunities and Challenges. SWOT and SWOC are the same thing, with "challenges" and "threats" being essentially the same thing.