AP04-EV04- Taller de comprensión de lectura

ANA MARIA RUEDA SUAREZ

Tutora

Jhon Fredy Mena Hurtado

GESTIÓN DE MERCADOS (2075286)

SENA

Medellín, ANT
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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 producto

c. High Price __D__All people

d. Mass market __E__The lifetimeof godos 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.

According to the reading, what should be taken into account to determine the
demand is
to carry out an investigation where you can determine the tastes or preferences,
number
of consumers, income, consumer expectations and the prices of related goods.

3. Write F for false or T for true

a. Production cost depends on Technology

F ( ) V (X)

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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)

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 process where the performance of a company's products

or
services is measured and thus knowing who is the best, also measures the
companies
recognized as the best in their class.

b. what is the process of benchmarking?

The processes that must be taken into account in the benchmarking are:
planning,
analysis, integration and action

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c. number the aspects to be taken into account in benchmarking

The aspects that must be taken into account in the benchmarking are the
following:

1. product
2. Price
3. Sales systems
4. Payment systems
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.

Advertising: It is a form of communication used to encourage or persuade an

audience
to continue or take some new action.

Companies: Entity in which capital and labor intervene as factors of production

of

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industrial or mercantile activities or for the provision of services.

Consumer: is a person or organization that demands goods or services for a

change of
money provided by the producer or supplier of goods or services
Costs: Amount of money that a thing costs.

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

Marketing: Set of techniques and studies that aim to improve the marketing of a
product.

Market equilibrium: occurs in those markets in which the quantity demanded by

consumers equals the quantity supplied by companies

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.

Passion: Emotion, feelings. The emotions as distinguished from reason, a

strong taste
or devotion for some activity.

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People: A product focusing on a specific target market based on demographic,

geographic, psychographic 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 a product or service can be purchased

and the
distribution channel. coverage, assortments, locations, inventory and
transportation of
the product or service.

Planimetry: It is the measurement of plane surfaces; for example, the

determination
of, angles, horizontal distances and areas on a map.
Preferences: Circumstance of preferring or being preferred by someone to a
person or
thing over other people or things.

Price: It´s is the amount a customer pays for the product. it includes Retail
price/wholesale, discounts, quantity discounts, credit terms, sales and payment
periods.

Product: It is the tangible object or service that can be offered.

to an acquisition, use or consumption market that
It could satisfy a desire or a need.

Promotion It refers to the communications with the public in an attempt to

influence

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them toward buying your products and/ or services.

quantity Aspect or characteristic of the things by virtue of which these are
countable
or measurable.

Supply: it is related to the ability and disposition of producers to offer products

for
sale.

supply curve: The firm's supply curve shows the quantity that a producer is
willing to
sell of a good, at a given price, keeping constant the other factors that may
affect the
quantity supplied.

The demand curve: is the graphic representation of the mathematical

relationship
between the maximum quantity of a certain good or services that an established
consumer to buy and its Price.

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

In reading, we find about supply and demand, which are two very important
concepts
in the economy, are related to each other.

Demand: refers to the desire, capacity and willingness of consumers to buy any
product.
supply: relates to the ability and willingness of producers to offer products for
sale.

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We also find the factors that determine them, a variety of tools are used to
achieve the
objectives of a company by performing a combination called marketing mix that
refers
to the types of marketing variables.

The 4 P's of the marketing mix are: price, promotion, place, product.

Benchmarking is also defined as the procedure to determine who is the best.

is a quantity of the quality of the company's products, policies, programs,

tactics etc.