TALLER DE COMPRENSIÓN DE LECTURA

OLIVER EUDAN BOLAÑOS SILVA

CENTRO AGROPECUARIO LA GRANJA

PROGRAMA DE GESTION DE MERCADOS

OCTUBRE DE 2019
ORIENTACIÓN

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.
1. Tastes or preferences
Consumers may demand for an item one year and ignore it the next.

2. Number of consumers
A large quantity of buyers carries to an increase in demand; a small quantity of
buyers carries to a decrease (Franny Chan website).

3. Income
When income rises, the quantity demanded will rise too. When income falls, the
demand of that product will fall too (Franny Chan website).

4. Consumer expectations
Purchasers are interested in satisfying their consumption regarding quality as the
most important factor. Likewise, the lead price has an effect on the potential
increase of the consumer´s final decision.

5. Price of related goods

There are two kinds of related goods that can affect the demand: substitutes (for
example, butter and margarine) and complementary (toys and batteries).
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 ( ) V (x )

c. One of the four Ps of marketing mix is Packaging

F ( ) V (x )

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 the procedure of determining who the best one is. It is an amount
of the quality of company’s products, policies, programs, tactics, etc., and their
contrast with standard measurements, or similar amounts of others. It is, also, the
continuous systematic process for evaluating the companies that are recognized
as best in class, for the following purposes:

• Establishing priorities, target, goals

• Developing product and process objectives

• Meeting or surprising industry best practices

 b. What is the process of Benchmarking?

1. Planning
It is the plan for running the benchmarking investigation.

2. Analysis
After analyzing the information, it obtains a basis for comparison.

3. Integration
Develop aims and incorporate them into the benchmarked process.

4. Action
It refers to the action plans necessary to achieve the objectives decided in step 3.

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

In benchmarking, it is necessary to take into account the next aspects:

Product
It is the thing produced by labor or effort.

Price
It refers to the quantity of payment or compensation given by one party to another
in return for goods or services.

Sales systems
It is a set of principles, processes, strategies and tools that are put into place to
bring the company results day-in and day-out.

Payment systems
It is used for transferring money include debit cards, credit cards, and e-commerce
payment systems.

Advertising
It is a form of communication used to encourage or persuade an audience to
continue or take some new action.

Promotion
It refers to the communications with the public in an attempt to influence them
toward buying your products and/ or services.

Location
It is a place where something is or could be located.
Organization
It is a social unit of people systematically structured and managed to meet a need
or to pursue collective goals on a continuing basis.

Planimetry
It is the measurement of plane surfaces; for example, the determination of, angles,
horizontal distances and areas on a map

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.

1. Advertising: the activity or profession of producing advertisements for

commercial products or services.

2. Benchmarking: A measurement of the quality of an organization's policies,

products, programs, strategies, etc., and their comparison with standard
measurements, or similar measurements of its peers.

The objectives of benchmarking are (1) to determine what and where

improvements are called for, (2) to analyze how other organizations achieve their
high-performance levels, and (3) to use this information to improve performance.

3. Demand: Demand in economics is the consumer's desire and ability to purchase

a good or service. It's the underlying force that drives economic growth and
expansion. Without demand, no business would ever bother producing anything.

4. Featured: displayed, advertised, or presented as a special attraction

5. High-priced: expensive; costly

6. Life Cycle : the series of stages in form and functional activity through which an
organism passes between successive recurrences of a specified primary stage

7. Location: position or site occupied or available for occupancy or marked by

some distinguishing feature

8. Marketing strategy: A marketing strategy is a business's overall game plan for

reaching people and turning them into customers of the product or service that the
business provides. The marketing strategy of a company contains the company’s
value proposition, key marketing messages, information on the target customer
and other high-level elements.

9. Mass-market: sold through such retail outlets as supermarkets and drugstores

as well as through bookstores

10. Packaging: Practice of combining several related goods or services into a

single offer. See also bundling.

11. Partner: The legal relationship between two parties, having specific

rights and responsibilities as a common company.

12. Passion: Emotion, feelings. The emotions as distinguished from reason, a

strong taste or devotion for some activity

13. People: Individuals, characteristic social groups.

14. Planning: To transform and develop marketing objectives to marketing

strategies.

15. Presentation: It refers to the performances of presenting any of the 9P’s to your
suppliers, customers, clients, or partners. A descriptive or persuasive account

16. Price: It´s is the amount a customer pays for the product. it includes Retail
price/wholesale, discounts, quantity discounts, credit terms, sales and payment
periods.

17. Product: It´s the tangible object or service that can be offered to a market for
acquisition, use or consumption that might satisfy a want or need.

18. Sales Systems: It is a set of principles, processes, strategies and tools that are
put into place to bring the company results day-in and day-out

19. Supply: The total amount of a product (good or service) available for purchase
at any specified price.

20. Technology: a manner of accomplishing a task especially

using technical processes, methods, or knowledge
6. Write a ten lines text that summarizes the topic of the activity.

The knowledge of supply and demand is a very important exercise for all types of
sales activity in a given area, the correlation of these two variables allows us to find
a balance point that allows us to make the most important decisions in price
matters and quantities, the offer refers to the quantity of products that we are going
to produce or we are going to take out the market in a certain time, while the
demand determines the amount of people who would be willing to consume our
products, of the veracity that could be found In the information that we can handle
on these two aspects, it depends on the future of our companies, hence the
importance of working on informed foundations in order to achieve positive results
for our ventures.

BIBLIOGRAFIA

https://es.shopify.com/enciclopedia/evaluacion-comparativa

https://www.google.com/search?q=traductor+ingles+espa%C3%B1ol&rlz=1C1GG
RV_enCO751CO751&oq=traductor+ingles+&aqs=chrome.1.69i57j0l5.17968j0j7&s
ourceid=chrome&ie=UTF-8

https://www.qo-
search.com/co/search?q=PEOPLE&source=9f252fa5bb414e2592bfe5f056ba8721