TALLER DE COMPRENSIÓN DE LECTURA

MIGUEL ANGEL QUINTANILLA GUALTERO

GESTIÓN DE MERCADOS

BOGOTÁ D.C.
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:

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

Tastes, Number of consumers, Income, Consumer expectations, Price

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 means the procedure of determining who the best one is. It is an amount of the
quality of company’s products, policies, programs, tactics, etc. and their contrast with standard
measurements, or similar amounts of others.

b. What is the process of Benchmarking?

Planning, Analysis, Integration, Action

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

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.

1- Demand: Desire, ability, and disposition of consumers to buy any product.

2- Supply: is the ability and disposition of producers to offer products for sale

3- Benchmarking: The benchmarking is the procedure of determining who the best one is. It is an
amount o f the quality o f company’s products, policies, programs, tactics, etc., and their contrast
with standard measurements, or similar amounts of others

4- Planning: It is a step of benchmarking that consists of a plan for running the benchmarking
investigation.

5- Analysis: It is a step of benchmarking that consists of After analyzing the information obtains a
basis for comparison

6- Integration: It is a step of benchmarking that consists of develop aims and incorporate them
into the benchmarked process.

7- Action: It is a benchmarking step that consists of referring to the action plans necessary to
achieve the objectives decided.

8- Product: is the tangible object or service that can be offered to a market for acquisition, use or
consumption that might satisfy a want or need.

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

10- Place:it is a distribution that 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.

11-Promotion: This refers to all of the communications that a company uses to increase
knowledge about the product or service in addition to persuade the consumer to purchase (target
segment).

12- Passion: Emotion, feelings. The emotions as distinguished from reason, a strong taste or
devotion for some activity.

13- Presentation: It refers to the performances of presenting any of the 9P’s to your suppliers,
customers, clients, or partners. A descriptive or per

14- People/prospect: 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.
15- Partner: Is the legal relationship between two parties, having specific rights and responsibilities
as a common company.

16- Planning: To transform and develop marketing objectives to marketing strategies.

17- Location: It is a place where something is or could be located.

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

continue or take some new action.

19- Promotion: It refers to the communications with the public in an attempt to influence them
toward buying your products and/ or services.

20- 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

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

Supply and demand are two important concepts in economy. They are related each other, because
when one increases, the other decreases. They are related too with quantity of products and with
equilibrium in price. The Demand it refers to the desire, ability, and disposition of consumers to
buy any product and the Supply it is related to the ability and disposition of producers to offer
products for sale. Supply and demand are two essential aspects in the market. Because the market
is dynamic, marketing specialists use a variety o f tools in order to achieve the goals of the
company through combination or mixture (mix). These tools are known as the “Marketing Mix”,
which refers to the kinds of marketing variables y Benchmarking is the procedure o f determining
who the best one is. It is an amount o f the quality o f company’s products, policies, programs,
tactics, etc., and their contrast with standard measurements, or similar amounts of others.