Английский язык: Аннотирование и реферирование текста

78 The customer wants to buy products (services), which satisfy the definite needs or combination of needs. Every product has three clearly defined characteristics; namely, physical, functional, and symbolic. The physical qualities define specifications such as size, shape, color, materials used, and etc. Т he functional define its usage. The symbolic qualities are those which satisfy the definite values and physiological needs of the customer such as satisfaction, and admiration. Therefore, the customers choose those products which offer the most of the demanded physical and symbolic qualities as well as effi- ciency at the lowest possible and reasonable price. The life span of a product begins from its presentation to the market (initial stage), after which it goes through a stage of fast in- crease in sales (growth stage). After a while, the product might reach a stage of maturity or a stage of market saturation, which would mean that the demand does not increase because it has reached to every po- tential customer. After that stage, a period of market shrinkage comes, because the customers have began to search for something more than what is offered. This process is known as "life cycle of the product". The contraction of the market for a given product can be due to technological advancements as well as to a change in the way of living or the value system of the consumers. It is highly important to research at what stage of its lifecycle the given product or service is at the present. If the product or service is in the maturity or decline stage, one will have to fight with intense competition in order to gain market share big enough to guarantee a return sufficient to cover the expenses and sustain a positive growth. The chance of success will be great as long as the product is in the introduction stage. Price The price is the second element of the marketing mix. In a highly competitive market, price is the most significant fac- tor. It has to bring a certain return and profit too. Consequently, the