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Supply C Expensive
According to the text, mention the things people take into account todetermine the demand
The things people take into account to determine the demand there are described below:
Tastes or preferences: consumers can want a services or product today and don't wish it tomorrow.
Number of consumers: quanty of purchaser causing demand to increase or decrease.
Income: Income makes it possible for the quantity demanded of products or services to increase or
decrease.
Consumer expectations: Purchaser is interested in satisfying their needs taking into account quality
and price.
Price of related goods: prices goods substitutes and goods complementary affect the demand
F (x) T ()
What is Benchmarking?
Product: It is a good or service that a company produces with the purpose of satisfying a consumer
need.
Price: It is the amount of money that a consumer is willing to pay to obtain the benefits of goods
and services.
Sales systems: The sales systems are those processes, which a company establishes the necessary
tools to carry out the sale of a service or product with satisfaction
Payment systems: a payment system is a set of resources used to transfer money between financial
institutions.
Advertising: conveys a positive message of a product to strengthen its presence in the market.
This activity deals with the game of supply and demand of a product or service and the importance
it has for organizations, within the activity the information systems that are a fundamental part of
this process are also taken into account because due to the information that is obtained thanks to
these systems is that the processes can be organized, so that the organization can take advantage
of the demands and thus offer its products or services, within all these processes it is necessary to
take into account that there are some factors that influence the Demand for products, such as
consumer income, customer expectations. It is necessary to consider that, for the proper
functioning of the market, supply and demand is what will define the quantity of products or
services that will be produced. Within the game of supply and demand, there are curves that will
reveal whether the process is being profitable and whether there is an equilibrium.
The marketing mix has different variables, the four P: Price, Promotion, Product, Place. Other
variables added as, Passion, Presentation, Prospect, Distribution, Partners.
Benchmarking is the comparative evaluation of the best products of market, it should comply which
objectives and with process systematic that are recognized the best of the industry.