COMPRENSIÓN DE LECTURA

Lea con atención el texto “Supply and Demand”, que se encuentra en el objeto
de aprendizaje de la Actividad de Proyecto 4, y conteste:

1. Match the Word with the corresponding meaning:

a. Supply _C_ Expensive

b. Demand _B_ Desire to buy any product
c. High price _D_ All people
d. Mass market _E_ The lifetime of goods and services.
e. Life cycle _A_ Disposition to offer products

2. According to the text, mention the things people take into account to determine
the demand.

People take into account the lifetime of the product, price promotion, the nature of
the product, competition, appearance.

3. Write F for false or T for true

a. Production cost depends on Technology

F ( ) V (X)
b. As greater the expectations are, the lower will be the offer from the companies.
F (X) V ( )
c. One of the four Ps of marketing mix is Package
F (X) V ( )
d. Price is the amount a customer pays for the product
F ( ) V (X)
e. Planning is to transform and develop marketing objectives to marketing
strategies.
F ( ) V (X)
4. Answer the following questions

a. What is Benchmarking?

It is the procedure to looking at what is the best company with respect to the
competition, the quality of its products, its policies, the company's programs, and the
evaluation of its tactics, objectives, goals, priorities.

b. What is the process of Benchmarking?

- Planning: Plan for running the benchmarking investigation.

- Analysis: After analyzing the information, it obtains a basis for comparison.
- Integration: Develop aims and incorporate them into the benchmarked process.
- Action: Action or plans needed to achieve the proposed objectives.

c. Number the aspects to be taken into account in Benchmarking:

Product, Price, sales systems, payment systems, advertising, promotion, location,

organization and planimetry.

5. Write the vocabulary (20 words) from the reading, and make a Glossary: Organize
the words in alphabetic order and write the meaning of each word.

 Analysis: the process of comparing a company's performance to the

performance of other companies.
 Objectives: something that you plan to do or achieve
 Compensation: salary benchmarking
 Consumers: buyers, customers.
 Developing product: products with new or different characteristics that offer new or
additional benefits to the customer
 Goals: the object of a person's ambition or effort
 Improvements: a thing that makes something better or is better than something else
 Income: money received
 Location: the place where something is located
 Passion: emotion or feelings
 Payment: compensation or an amount of money paid
 Plan: an intention or decision about what one is going to do
 Planimetry: the measurement of plane areas
 Presentation: it refers to the performances of presenting any of the 9p’s to the
suppliers, customers, clients or partners.
 Price: the amount of money expected, required, or given in payment for something
 Product: the result of an action or process
 Promotion: activities to advertise something
 Prospect: a product focusing on a specific target market
 Quantity: amount of anything
 Strategies: a method or plan chosen to bring about a desired future

6. Write a ten lines text that summarizes the topic of the activity.

In this activity we find the topic of supply and demand, we study the factors that are
taken into account to determine the demand, the factors that determine the supply
and the law of supply and demand, the importance of quantity, quality and the price
of the products, as well as establishing objectives, priorities and all the decisions that
contribute to the growth of the Company.

We also find the topic of benchmarking, the objectives and process, and all of those
aspects such as price, product, sales system, payment systems, advertising,
promotion, location, organization and planimetry.
All the aspects studied are important for the company, because by taking them into
account in the company´s processes can increase the production, revenue and its
profits.