Cognitive behavioral theory (CBT), psychoanalytic theory, and behaviorism have all been shown to be helpful in enabling seniors to cope with changes in their lives, spanning from chronic illnesses to dealing, with retirement, to the loss of a spouse and other age-related social and physical issues. The father of psychoanalysis Sigmund Freud famously stated "that older people are not good candidates for psychotherapy" because all human beings effectively stop learning at the age of age fifty (Knight & Satre, 1999, p
"Empathic listening, exploratory inquiry, and interpretation and clarification of unconscious determinants are essential parts of psychodynamic therapy. All of these techniques are used with both older and younger patients in psychodynamic therapy" (Morgan, 2003, p
These deleterious effects were observed even in minor depression, where the risk of mortality within 7 years was 4.9 times higher compared with diabetes patients who did not have depressive symptoms" (Petrak 2010)
(Individuals taking certain anti-psychotic medications can manifest Parkinson-like symptoms such as twitching and a lack of effect, because the drugs retard the production of dopamine in the brain). In one study of Parkinson's patients, 20% of 176 patients "had required psychiatric attention for major depressive illness before the appearance of motor disabilities" reflecting the psychological effects of the illness (Todes & Lees, 1985)
It is to attract customers so that the objective of profit maximization can be fulfilled and businesses can sustain in the market. Importance of Marketing Mix in Marketing An important part of the external stimuli, which formulates the perception of the buyer, is the marketing mix part of the marketing plan (Botha, Strydom, Bothma, & Brink, 2006)
Product The offer of any company, which initiates the whole plan, and fulfills the needs and wants of the customer, is the product. A marketing department should be able to define the product in an organized manner so that the customer is not confused (Gordon, 2009)
In short, before investing money, there is strong need to formulate a research which finds the best marketing mix which is suitable for their company or brand. This is an important part of decision making too, by the upper management who, has to finalize all strategies (McDaniel & Gates, 1998)
These tactics require money to be incurred as a cost, this cost is required for methods, which can be an out of pocket budget and also a free method of promotion (Gordon, 2009). These four variables are highly essential for the marketers to form a marketing plan and forming suitable strategies for the idea or product which they have to promote (Talloo, 2007)
Generally, understanding where the company is positioned in regards to these factors will serve as the basis for a comprehensive marketing strategy. The marketing mix is frequently used as the foundation for a marketing strategy because it allows marketing managers to promote their products or services in relationship to the external environments and it also serves as a useful framework for decision-making (Manktelow, N
The product has to be sold at the price which can make them penetrate the market and in the right place. Finally, to guarantee brand visibility, they have to use the most suitable promotional gimmick (Kerin & Rudelius, 2001)
Significant amount of resources are spent by businesses in taking products to the customers. Place element has much to do with methods of transporting and storing goods and making them available to the customers (Kotler & Keller, 2006)
To maintain this growth especially in its consumer durables and the mobile divisions, it has engaged in analyzing customers and what they want. It has also devised strategies to increase its market share in a market where there is a lot of competition (Chauhan, 2013)
This is also facilitated in the pricing strategy that is set so the franchises can make sufficient profit (Kotler and Keller, 2011). The way in which the cars are presented to potential buyers will be important, as this will impact initial impressions (Kapferer, 2012)
They always desire to have more shareholder value, more market share, and more profits. Companies have achieved these objectives through R&D, successful initiation and monitoring marketing strategies across various domains (Baines Fill & Page, 2013)
The company does this in an effective and efficient manner to attract new customers while retaining existing customers. The promotion of Pepsi is composed of radio, television, billboards, internet, global events like World Cup and pamphlets (Palmer, 2012)
Marketing mix is composed of price, product, promotion, and place. The price of a product is the main determinant of the volume of sales and value of the product sold (Smith & Taylor, 2009)
The company produces a line of several brands including teas, Pepsi, Tropicana, 7Up, Lipton Teas, Quaker Foods, Pepsi Max, and Mirinda among many more. The company packages these products differently including 600ml, 300ml, 1 litre, 2 liters and 375ml (Wensveen, 2011)
Moreover, more often than not, advertising leads to impulse buying, which is not a good habit for any individual. It also creates a desire in some individuals for products that they may not really need (Seng et al
However, public relation is difficult to control since the company running it, in most cases, control of the process is not availed. Moreover, public relations require dealing with a variety of audiences who may have differing needs and preferences and also the effect of public relations to customer behavior is difficult to weigh since it does not target the consumer directly (Sexton, 2010)
Advertising Advertising seems to be everywhere we go and in all aspects of human lives today. Starting from the moment someone turns on the TV set, or tunes in into a favorite radio station, to the bill boards on the street and posters informing the audiences of the next block buster and so on, it is a constant bombardment by the advertisements of different products (Shah & D'Souza, 2009)