NATIONAL LEARNING SERVICE

SENA

MARKET MANAGEMENT

Activity
Reading compression workshop
 TALLER COMPRESION DE LECTURA
Desarrollar un taller de compresión lectora sobre términos técnicos en idioma inglés,
referente a oferta y demanda.

ORIENTACION
Lea con atención el texto “ supply and demand” que se encuentra en actividad de
proyecto 4 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 next, mention the things people take into account to determine
the demand.

 tastes of preference
 number of consumers
 income
 consumer expectations
 price of related goods.
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 offers from the companies
F (x) V( )

c. One of the four Ps os marketing mix is package.

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?

Is the procedure of determining who the best one is. It is an amount of the quality of
company is products, policies, programs tactics, etc, and their contrast with standard
measurements, or similar amounts of others.

b. ¿What is the process of Benchmarking??

 Planning: it is the plan for running the Benchmarking investigation.

 Analysis: after analyzing the information it obtains a basis for comparison.
 Integration: Develop ainns and incorporate them into the benchmarked
process.
 Action: it refers to the action plans necesary to achieve the objetives decided
in step 3.

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

--Product
--price
--sale systems
--payment systems
--advertising
--promotion
--location
--organization
--planimetry
The number aspects is: 9

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.

ADVERSITING: It is a from of communication used to encourage or persuade and

audience to continue or take some new action.
ALLIANCE: a union or association formed for mutual benefit, especially between
countries or organizations.
DISCOUNT: a deduction from the usual cost of something.
LOCATION:it is a place where something is or could be located.
MARKETING: is the study and management of exchange relationships.
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.
PACKAGING: materials used to wrap pr protect goods.
PARTNER: the legal relationship between two parties, having specific rights and
responsibilities as a common company
PASSION: emotion, feeling the emotions as distinguished from reason, a strong taste
or devotion for some activity.
PAYMENT SYSTEMS: It is used for transferring money include debit cards, credit
cards, and e-commerce payment systems.
PEOPLE/_PROSPECT: a product focusing on a specific target market based on
demographic, geographic, psycho graphic and behavioral characteristics. Once the
target market is chosen the company can develop its marketing strategies to target
this market.
PLACE: it represents the location where product or service can be purchased.
PLANIMETRY: it is the measurement of plane surfaces, for example, the
determination of, angles, horizontal distances and areas on a map.
PLANNING: to transform and develop marketing objectives to marketing strategies.
PRESENTATION: it refers to the performances of presenting any of the gP’s to your
suppliers, customers, clients, or partner. A descriptive or persuasive account / Seth
forth for the attention of mind)
PRICE: it’s is the amount a customer pays for the product, it includes retails price/
wholesale, discounts, credit terms, sales and payment periods.
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 needs
PROMOTION: this refers to all of the communications that a company uses to
increase knowledge about the product or service in addition to persuade the
consumer to purchase ( target segment)
SALES SYSTEMS: it is a set of principies, processes, strategies and tools that are put
into place to bring the company results day - in an day- out.
SUPPLY: it is related to the ability and disposition of producers to offer products for
sale.

6. Write a ten lines text that summarizes the topic of the activity
Supply and demand are two important concepts in economy, demand it refers to the
desire, ability, and disposition of consumers to buy any product and Supply it is
related to the ability and disposition of producers to offer products for sale
For the demand one must take into account some aspects such as:
Tastes of preference, number of consumers, income, consumer expectations and
price of related goods.
Supply and demand are two essential aspects in the market. Because the market is
dynamic, marketing specialists use a variety o f tools in order to achieve the goals o f
the company through combination or mixture (mix). These tools are known as the
“Marketing Mix”, which refers to the kinds of marketing variables.
The variables is: price, product, promotion and place.