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 c 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.

 Tastes or preferences
 Number of consumers
 Income
 Consumer expectations
 Price of related godos

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 a continuous process by which the products, services or work

processes of the leading companies are taken as a reference, to compare them
with those of your own company and then make improvements and implement
them

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 collection of data is fundamental for benchmarking, the success

or failure of the whole process will depend on it to a large extent. We can

obtain data from different sources: internal, professional associations or own

research among others.

3) Análisis: 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: The next step after analyzing the information and having selected

the reference aspects in the selected companies, it is time to adapt them to

our company but always implementing improvements.

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

1. Product
2. Price
3. Sales systems
4. Payment systems I
5. Advertising
6. Promotion
7. Location
8. Organization
9. 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.

1. Balance: a part of the theory of evolution that states that the specification
occurs quickly in certain moments that are followed by long periods without
appreciable changes.

2. Brand name: It is a primary commercial identification and / or the set of several

identifiers with which it relates and offers a product or service in the market.

3. Coverage: set of economic operations that serve to reduce or cancel the risk of
a financial instrument.

4. Demand: it refers to the desire, ability, and disposition o f consumers to buy any
product.

5. Demographic: Demography studies statistically the structure and dynamics of

populations, as well as the concrete processes that determine their formation,
conservation and disappearance.
6. Geographic: Geographical space is a concept that is used by geographical
science to define the physical space organized by society or the organization of
society viewed from a spatial perspective.

7. Marketing: Marketing is an English concept, translated into Spanish as

marketing or marketing. It is the discipline dedicated to analyzing the behavior of
markets and consumers.

8. Packaging: The packaging is a container or wrap that contains products

temporarily mainly to group units of a product thinking about handling, transport
and storage.

9. Partner: A companion is the individual who accompanies with another for some
purpose. The bond established between partners is known as companionship.

10. People: the word person refers to a being with reasoning power that has Self-
awareness and that has its own identity Distribución

11. Place: Place a localized space from specific coordinates.

12. Planning: Planning is the process and effect of organizing with a method and
structure the objectives set in a time and space.

13. Price: The price is the value in money in which the cost of something is
estimated, be it a product, good or service. As such, it comes from the Latin
pretĭum, which means 'price', 'reward'.

14. Product: A product is a thing or an object produced or manufactured,

something material that is produced in a natural or industrial way by means of a
process, for the consumption or utility of the individuals.
15. Promotion: is the action of promoting a person, thing, service, etc. Its purpose
is to promote and disseminate products, services, goods or ideas, to publicize and
persuade the public to perform an act of consumption.
16. Psychographic: A good marketing strategy must take into account to whom
the message is directed. This has to be adapted so that its meaning is closer to the
codes of the target audience. You have to speak the same language as the
consumer.
17. Quality: The quality of a product or service is the perception that the client has
of it, it is a mental fixation of the consumer that assumes conformity with said
product or service and its capacity to satisfy their needs.

18. Supply: it is related to the ability and disposition of producers to offer products
for sale.

19. Strategies: It is a plan to address an issue. A strategy is composed of a series

of planned actions that help make decisions and achieve the best possible results.
The strategy is aimed at achieving an objective following a pattern of action.

20. Warranties: The guarantees are very important for consumers. They allow to
be certain that, in case of defects or defects that affect the correct functioning of
the product, those responsible will take charge of their repair so that the product
will once again meet the optimal conditions of use

6. Write a ten lines text that summarizes the topic of the activity.
For any economic activity company to provide services or a product, it is vital to
keep in mind the demand and offer when you want to offer it to the community.
Know the tastes and preferences, to whom it is directed, purchasing power and
prices of the competition and what substitutes can be found in the market. In
addition to permanently apply existing laws of supply and demand and adapt them
to your particular needs. There are different writers who express their opinions on
how marketing should be developed and its variables in a company to be
successful; It is good to know them and take advantage of these points of view
when making important decisions in companies.
Every company that wants to be permanently successful must have clear
strategies: planning, clear objectives, analysis, periodic evaluations and, most
importantly, create need in the consumer and provide products that are of excellent
quality and innovate regularly to surprise customers and be competitive in a
changing society