READING COMPREHENSION

SERGIO ANDRES ALTAMAR OLAYA

FICHA DE CARACTERIZACION
1792927

SENA
REGIONAL CAUCA
CENTRO DE TELEINFORMATICA Y PRODUCCION INDUSTRIAL CTPI
TECNOLOGO GESTION DE MERCADOS (1792927)
2019
1. Match the Word with the corresponding meaning.

a) Supply ___C___ Expensive

b) Demand __B___ Desire to buy any product
c) High Price __A__ All people
d) Mass market __E_ The lifetime of goods and services.
e) Life cycle __D___ Disposition to offer products

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

The price of the good: The more expensive a product is, the lower its
demand will be.
Consumer preferences: Tastes, preferences and fashion determine the
behavior of the plaintiffs regardless of prices or income.

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?
Benchmarking is a systematic and continuous process to evaluate
the products, services and work processes of organizations
recognized as the best practices, the toughest competitors.

b) What is the process of Benchmarking?

Benchmarking is a continuous process by which the products,
services or work processes of the leading companies are taken as a
 reference, to compare them with those of your own company and
then make improvements and implement them.

c) Number the aspects to be taken into account in Benchmarking

Quality: It refers to the level of value created of the products for the
client on the cost of producing them to the design of quality systems
that ensure that the resulting quality will adhere to or comply with
predetermined specifications and standards.

Productivity: It is the search for excellence in the areas that control

input resources, and productivity can be expressed by the volume of
production and the consumption of resources, which can be costs or
capital.

Time: Faster flows in administration, sales, production and

distribution have received greater attention as a potential factor for
improving productivity and competition.

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.
a) Balance Point: Allows you to determine the level of sales necessary
to cover the total costs
b) Bussines: Key way to promote your business and increase the sales
of your products or services.
c) Company: Productive unit grouped and dedicated to develop an
economic activity with profit motive.
d) Distribution: Set of actions that take place since a product is made
by the manufacturer until it is purchased by the final consumer.
e) Demand: Quantity of goods and services that are purchased by
consumers at different prices.
f) Economy: It is the science that studies the social laws that govern
production.
g) High Price: It is the monetary value that is assigned to something.
high price is a higher value of products of the same category but
quality influences.
h) Lifecicle: The life cycle is a concept that refers to the appearance,
development and completion of the functionality of a certain element.
i) MassMarket: Market strategy in which a company decides to ignore
differences in market segments and appeal to the entire market with
an offer or strategy.
 j) Market: Context in which the exchanges of products and services
take place. That is to say that in this context is where the offers,
demands, purchases and sales are carried out.
k) Marketing Strategy: They consist of actions that are carried out to
achieve certain objectives related to marketing, such as publicizing a
new product, increasing sales or achieving greater market share.
l) Marketplace: Context in which the exchanges of products and
services take place. That is to say that in this context is where the
offers, demands, purchases and sales are carried out.
m) Offer: Quantity of goods or services that producers are willing to sell
to consumers under certain market conditions.
n) Price: Amount of money that allows the acquisition or use of a good
or service.
o) Product: Product natural or artificially, or the result of a job or
operation
p) Service: Set of actions which are performed to serve someone,
something or some cause.
q) Sale: Sale is an action that is generated from selling a good or
service in exchange for money. Sales can be by personal way, by
mail, by telephone, among other means.
r) Utility: Utility that the actor obtains from an economic, commercial or
productive process. It can be calculated as total income.
s)
6. Write a ten lines text that summarizes the topic of the activity.

It is the basic principle on which the market economy is based. Invoice and
keep accounts of your business using Debitoor. ... The law of supply and
demand reflects the relationship between the demand that exists for a good
in the market and the quantity of it that is offered based on the price that is
established.
Benchmarking is a systematic and continuous process to evaluate the
products, services and work processes of organizations recognized as the
best practices, the toughest competitors.