ECO ENERGY

Reading Comprehension

DIEGO ELIECER HENAO LOAIZA

THEACHER

ANDREA DUQUE BETANCUR

SENA

CENTRODE FORMACION CAFETERA

MARKET MANAGEMENT

FICHA 85

BOGOTA D.C.

SEPTEMBER 2020
READING COMPREHENSION
1. Match the Word with the corresponding meaning:
a. Supply Expensive
b. Demand Desire to buy any product
c. High price All people
d. Mass market the lifetime of goods and services.
e. Life cycle Disposition to offer products

2. According to the text, mention the things people take into account to determine the
demand.
According to the text we can say that people take into account when determining the
demand, is
1. Tastes or preferences
2. Number of consumers
3. Income
4. Consumer expectations
5. Price of related goods

3. Write F for false or T for true

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

What is Benchmarking?
is the procedure of determining who the best one is. It is an amount of the quality of
company´s products, polices, programs, 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

What is the process of Benchmarking?

The process of benchmarking it divides in fourth parts
1. Planning
2. Analysis
3. Integration
4. Action

Number the aspects to be taken into account in Benchmarking:

In the benchmarking we must take into account the following aspects
 Product
 Price
 Sales systems
 Advertising
 Promotion
 Location
 Organization
 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.
PALABRA SIGNIFICADO
1 ADVERTISEMENT form of communication that tries to increase the
consumption of a product or service
2 ANALYSIS detailed examination of a thing to know its
characteristics or qualities
3 BENCHMARKING it is a continuous process by which the products, services
or work processes of leading companies are taken as a
reference, to compare them with those of your own
company and later make improvements and implement
them
4 BUSINESS activity or work performed for profit, especially that of
conducting business operations
5 DEMAND demand in economics is the consumer's desire and ability
to purchase
a good or service.
6 ECONOMY science that studies resources, wealth creation, and the
production, distribution, and consumption of goods and
services
7 EXPENSIVE that costs a lot of money
8 LIFE CYCLE the product life cycle is the set of stages that the products
or services that a company offers or markets in the
market go through
9 LOCATION place where something is found
10 MARKETING is the set of activities aimed at identifying and satisfying
the needs and desires of consumers
11 MASS- MARKET it is the strategy in which the company does not consider
market segmentation, so it directs its strategy to all
people
12 ORGANIZATION an organization is an association of people who interact
with each other and use resources to achieve objectives
or goals
13 PAYMENT SYSTEM set of instruments and means used by economic agents to
make payments
14 PLANIMETRY deals with the measurement and representation of a
portion of the earth's surface on a flat surface
15 PLANNING transform and develop marketing objectives into
marketing strategies
16 PRICE amount of money that allows to have a product or service
17 PRODUCT a product is an eligible, viable, and repeatable option that
supply makes available to demand to meet a customer's
needs
18 PROMOTION Advertising campaign that is made of a certain product
or service for a limited time
 19 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
20 TECNOLOGY Set of instruments, technical resources or procedures
used in a specific field or sector

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

It is important to start at this point by defining what is supply and what is demand:
OFFER IS: the amount of products or services that is willing to offer the client at a specific
price
DEMAND IS: the amount of goods or services that the buyer is willing to purchase at a
certain price
Based on these definitions we can relate these important aspects in marketing, in a
company we must take into account the supply and demand of our products, since having
this clear we will be able to better compete in the current market, with excellent prices
without neglecting the importance of the breakeven point
It is also important to take into account benchmarking since through this we can determine
who are the best in the market and create strategies, develop objectives and goals