1.

Match the Word with the corresponding meaning:

a. Supply __C__Expensive
b. Demand __B__Desire to buy any product
c. High __D__price 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.
The potential market demand is calculated from the estimate of the number of
potential buyers to whom an individual consumption rate is assigned. I mean, when
determining the demand for a product to be purchased by people, it must be
something that influences it as something fashionable, a necessity or simply a
particular taste.
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 the procedure for determining who is the best. That is a quantity
of the quality of the products, policies, programs, tactics, etc. of the company and
its contrast with the standard measures or similar quantities of others.
Benchmarking is the systematic analysis and study that a company makes of the
competitors and leaders in its market. Furthermore, benchmarking can go beyond
our own market and lead us to discover business models, business styles or
financial improvements in markets totally different from ours.
b. What is the process of Benchmarking?
the continuous systematic process of evaluating companies recognized as the best
in their class, for the following purposes:
• Establish priorities, objectives, goals
• Develop product and process objectives
• Meet or surprise industry best practices
c. Number the aspects to be taken into account in Benchmarking:
In other words, benchmarking consists of evaluating and analyzing the processes,
products, services and / or other aspects of other companies or areas to compare
them and take them as a point of reference for your future strategies. The intention
is to learn from the experience of others to improve your own performance
Goals of benchmarking
• Define where and what improvements are requested
• Investigate how other organizations achieve their high levels of performance.
• Use this information to improve the measurement of results.
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.
Action
It refers to the action plans necessary to achieve the decided objectives
Advertising:
Advertising is a form of communication that tries to increase the consumption of a
product or service, insert a new brand or product within the consumer market,
improve the image of a brand or reposition a product or brand in the mind of a
consumer.
Assortments:
Assortment is the set of items that a commercial establishment offers for sale. It
refers to the variety of items in the sales room, not the quantity of a specific
product.
Analysis:
After analyzing the information, you get a basis for comparison.
Contract:
Agreement, generally written, by which two or more parties mutually agree to
respect and comply with a series of conditions.
coverage:
The strategic decision on Market Coverage aims to have a greater or lesser range
of points of sale in a given territory. This can be Intensive, Exclusive or Selective,
and your choice is closely linked to the characteristics of the product and consumer
behavior.
goals:
A goal or end is the expected or imagined result of a system, an action or a
trajectory, that is, what we hope to obtain or achieve through a specific procedure.
Organizations, individuals, groups, all set goals and procedures to make them
come true.
Inventory:
It is an accounting term that refers to goods that are being manufactured in various
stages for sale. ... Finished goods (that are available for sale) Work in progress
(which means that the process is being done).
Location:
It is a place where something is or could be located.
Organization:
It is a social unit of people structured and systematically managed to satisfy a need
or to continuously pursue collective objectives.
Partner:
The legal relationship between two parties, having specific rights and
responsibilities as a joint venture.
persuade:
Get reasons and arguments for a person to act or think in a certain way.
Planimetry:
It is the measure of flat surfaces.
Place:
Represents the location where a product or service can be purchased and the
distribution channel. coverage, assortments, locations, inventory and transportation
of the product or service
Price:
It is the amount that a customer pays for the product. Includes retail / wholesale
price, discounts, quantity discounts, credit terms, sale and payment periods.
Product:
It is the tangible object or service that can be offered to an acquisition, use or
consumption market that could satisfy a desire or a need.
Promotion:
It refers to all the communications that a company uses to increase knowledge
about the product or service in addition to persuading the consumer to buy (target
segment).
Presentation:
Action of presenting or presenting oneself.
Providers:
A supplier can be a person or a company that supplies other companies with
stocks and goods, mainly items, which will be transformed to be sold later or that
are directly bought for sale.
Sales systems:
It is a set of principles, processes, strategies and tools that are implemented to
bring the results of the company day after day.
6. Write a ten lines text that summarizes the topic of the activity.
In this work I was able to learn to differentiate between the supply and demand of a
product in the market and in this way I also learned to differentiate the variants in
marketing and thus be able to determine the supply and demand in which each of
them have their differentiating factors such as consumers, the environment,
distribution, price and negotiation. I also learned that these variables have their
rules which help to undertake in each project that we want to launch on the market,
we must also be very analytical and observant in order to have the greatest
possible success with our product.
We must also not forget that if we think of undertaking in the current market we
must obey the margins of the market such as choosing the product, calculating a
sale price, a specific place to sell it and applying a promotion according to the
market in which the product is implemented product.