Marketing process is the way how to discover the demand of people are not met and provide products that satisfy consumer's needs. The marketing process includes the following steps:
Development of the organisation's mission statement
Statement of objectives
According to Marketing Principle book (page 40)
The organisation's mission statement is the purpose of the corporation or company and reasons that company was founded, exist and develop. In addition, company mission statement are also know that an organisation try to develop and achieve by company's operation. The main purpose of company mission statement is the organisation want to prove "what does a business exist for?" And "who they serve for?" . For example the mission statement of Honda's company is committed bringing the best quality products for people's life and future.
Statement of objectives is determined by the specific target by an organization and the outcome is evaluate through the profit, stock increasing, development and opening more branches in every year.
For example, in Vietnam motor market, Honda is one of the biggest brands in motor market. They focus on develop the quality and brand. Moreover, they use the SMART method (Specific, Measureable, Achievement, Realistic and Time limit) aim to develop more their goals.
Situational analysis is the method that an organisation was founded to analyse and send feedback to customers before the new products is launched. Honda also focus on SWOT (Strength),( weaknesses), (opportunities) and (threats) method because it influence strongly to their business. Besides, SWOT method can help them to develop and catch the opportunities in business.
Strategy development is the long-term operation to maintain and develop the company. Honda has to know the target market and catch all of the necessary information to respond all the demand of customers.