GESTIÓN DE MERCADOS ((1966000))

AP04-EV04- Foro: “TALLER DE COMPRENSION DE LECTURA”

JENIFER VIVIANA HERNANDEZ REINA

Bogotá
2020
1. Match the Word with the corresponding meaning:

2. According to the text, mention the things people take into account to determine

the demand.

 Number of consumers
 Tastes or preferences
 Ingresos
 characteristics that users look for in terms of packaging volume, price, quality
 price of related goods that can affect demand, substitutes and complementary

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 (x ) V ( )

4. Answer the following questions

a. What is Benchmarking?

Benchmarking is a process of measuring the performance of a company’s products,services, or

processes against those of another business. The point of benchmarkingis to identify internal
opportunities for improvement. By studying companies with

for the following purposes:

• Establishing priorities, target, goals

• Developing product and process objectives

• Meeting or surprising industry best practices

b. What is the process of Benchmarking?

Phases in the Benchmarking process Establish the initial points Identify the business activity, lines
of business, companies, etc., to be evaluated and analyzed. In other words, focus on the
competition to be followed. What aspects will be taken into account, what you will understand
and what resources are necessary for this investigation. Establish the team. Select the people who
will form this team and who will be responsible for this evaluation and analysis of the competition.
Provide them with the necessary conditions and resources for said study and define the actions of
each member. Establish the sources of information. They must define which channels will be
adequate to obtain this information from the competition. It can be considered from the workers
of the companies being evaluated, advisers, third parties of these companies, public sources of
their activity, etc. Analysis of the information obtained. Once the flow of information begins, it is
only necessary to collect and analyze such information. Know how to work with these data so that
later on you can develop a strategy with those points

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

 Product
 Price
 Sales systems
 Promotion
 Quality

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 Advertising the activity or profession of producing advertisements for commercial

products or services.

"her father was in advertising"

2 Benchmarking A measurement of the quality of an organization's policies, products,
programs, strategies, etc., and their comparison with standard
measurements, or similar measurements of its peers.

The objectives of benchmarking are (1) to determine what and where

improvements are called for, (2) to analyze how other organizations
achieve their high-performance levels, and (3) to use this information
to improve performance.
 http://www.businessdictionary.com/definition/benchmarking.html
3 Demand Demand in economics is the consumer's desire and ability to purchase
a good or service. It's the underlying force that drives economic growth
and expansion. Without demand, no business would ever bother
producing anything.

4 Featured displayed, advertised, or presented as a special attraction

5 High-priced expensive; costly:

6 Life Cycle the series of stages in form and functional activity through which an
organism passes between successive recurrences of a specified primary
stage
7 Location position or site occupied or available for occupancy or marked by some
distinguishing feature

8 Maketin A marketing strategy is a business's overall game plan for reaching

strategy people and turning them into customers of the product or service that
the business provides. The marketing strategy of a company contains
the company’s value proposition, key marketing messages, information
on the target customer and other high-level elements.
https://www.investopedia.com/terms/m/marketing-
strategy.asp#ixzz5SSvckqU0
9 Mass-market sold through such retail outlets as supermarkets and drugstores as well
as through bookstores

10 Packaging

2. Practice of combining several related goods or services into a single

offer. See also bundling.

http://www.businessdictionary.com/definition/packaging.html
11 Partner The legal relationship between two parties, having specific

rights and responsibilities as a common company.

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

taste or devotion for some activity
13 Planimetry

14 Planning To transform and develop marketing objectives to marketing strategies.

15 Presentation It refers to the performances of presenting any of the 9P’s to your
suppliers, customers, clients, or partners. A descriptive or persuasive
account (Set forth for the attention of mind).
 16 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.
17 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 need.

18 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
19 Supply The total amount of a product (good or service) available for purchase
at any specified price.

20 Technology  a manner of accomplishing a task especially using technical processes,

methods, or knowledge

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

Supply and demand is one of the most fundamental concepts of economics Demand refers to
how much (quantity) of a product or service is desired by buyers. The quantity demanded is the
amount of a product people are willing to buy at a certain price; the relationship between price
and quantity demanded is known as the demand relationship. Supply represents how much the
market can offer. The quantity supplied refers to the amount of a certain good producers are
willing to supply when receiving a certain price. The correlation between price and how much of a
good or service is supplied to the market is known as the supply relationship. Price, therefore, is a
reflection of supply and demand.

The relationship between demand and supply the forces behind the allocation of resources. In
market economy theories, demand and supply theory will allocate resources in the most efficient
way possible.