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MARIA FERNANDA CRUZ ORJUELA

Ficha 1749849

SERVICIO NACIONAL DE APRENDIZAJE SENA

TECNOLOGO EN GESTION DE MERCADOS

2019
2. According to the text, mention the things people take into account to determine the
demand.

1. Number of consumers
2. income
3. tastes or preferences
4. consumer expectations
5. Price of related godos
4. Answer the following questions

a. What is Benchmarking?

It is the process by which information is collected and new ideas are obtained, by comparing
aspects of your company with the leaders or the strongest competitors in the market

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 industr y best practices

b. What is the process of Benchmarking?

1. Planning

The main objective of this first stage is to plan the research that will be carried out

2. Data

The data collection is fundamental for benchmarking, the success or failure of the whole process
will depend on it to a large extent

3. Analysis
Once we have compiled the necessary information, we must analyze the elements that cause the
differences between our company and the companies studied, in order to identify opportunities for
improvement
4. Action
It refers to the action plans necessary to achieve the objectives decided in step

5. Follow-up and improvement

This will help to resume work on subsequent projects. The idea is that it becomes an exercise of
the company sustained over time to adopt a continuous improvement.

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

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

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

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

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

6. 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.

Advertising the activity or profession of producing advertisements for

commercial products or services.
Action Word that indicates that a person, animal or thing is doing
something, is acting
Analysis Detailed examination of a thing to know its characteristics
or qualities, or its status, and draw conclusions, which is
done separating or considering separately the parts that
constitute it

Benchmarking it consists in taking comparators or benchmarks to those

products, services and work processes that belong to
organizations that show the best practices on the area of
interest, with the purpose of transferring knowledge of the
best practices and their application
Demand Demand in economics is the consumer's desire and ability
to purchase a good or service.
Data Concrete information about facts, elements, etc., that
allows to study, analyze or know them
High-priced expensive
improvement Change or progress of a thing that is in precarious
condition towards a better state

Life Cycle the series of stages in form and functional activity through
whichan organism passes between successive
recurrences of aspecified primary stage
Location position or site occupied or available for occupancy or
marked
Maketin strategy A marketing strategy is a business's overall game plan forr
eaching people and turning them into customers of the
product orservice that the business provides
Mass-market sold through such retail outlets as supermarkets and drugs
toresas well as through bookstores
Price It´s is the amount a customer pays for the product. it inclu
desRetail price/wholesale, discounts, quantity discounts,
credit terms,sales and payment periods
Product It´s the tangible object or service that can be offered to a m
arketfor acquisition, use or consumption that might satisfy
a want orneed
Planning
Plan action
Sales Systems Sales Systems It is a set of principles, processes, strategie
s and tools that are putinto place to bring the company
results day-in and day-out
strategies Series of very thoughtful actions, aimed at a specific
purpose
 tracing Meticulous observation of the evolution and development
of a process

Demand means the amount you are willing to buy of a certain product at a certain price.

The offer is the amount of product that a company is willing to sell during a certain period of time
and at a given price.

The individual demand of an article:

The demand for an item that an individual is willing to buy in a given period of time is a function
that depends on:

a) The price of the item.

b) The monetary income of the buyer.

c) The prices of other items.

. it is true that there are many types of demand, individual demand, total, internal, external or
global demand and other concepts that infer as the demand for complementary goods, but in its
general meaning, the demand is the amount of goods and services that the individual has the will
and is able to buy, the total demand is the sum of the individual demands of a good or service, it is
limited by its income, the tastes or preferences of the consumer to be more technical in the
vocabulary, prices of the product, the demand for a good can also be affected by the needs of
other products, such as substitute goods, which are those that, due to the increase in price, cause
the demand for said good to decrease and the demand of its substitute to grow, for example. : the
substitute for meat is chicken; there are also complementary goods, if one product goes up the
demand of the other will also do it: bread and butter or cookies and jam