TALLER DE COMPRENSION DE

LECTURA
Edwin Cubillos Certuche.
ORIENTACIÓN
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 _ D__ 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.
The things people take to determine the demand are:
 The Price
 The customer needs.
 The appearance.
 The distribution.

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 () V (x)
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 business management method that seeks to find the best
practices inside our outside the Company through the comparison of techniques,
processes and services of other organizations in order to increase their efficiency
and competitiveness.
b. What is the process of Benchmarking?
_benchemarking is a continuous process by which the products, services or work
processes of leading companies are taken as a reference, to compare them with
those of your own Company and later make improvements and implement them.
For a benchmarking plan to be effective, it must follow five stages:
 Planning
 Data collection
 Analysis of plan
 Plan of action
 Monitoring to plan
c. Number the aspects to be taken into account in Benchmarking:
 Quality; it refers to the level of evalue created of the products for the customer
over the cost of producing them.
 Productivity: it is the search for excellence in the areas that control input
resources, and productivity can be expressed by the volume of production
and the consumption of resources, which can be costs or capital.
 Time: it simbolizes the direction of industrial development in recent years.
Faster flows is sales, administration, production and distribution have
received increased attention as a potential factor for improving productivity
and competition.

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.
a. Supply chain: The supply chain or supply chain is the process that is
generated from when the customer places an order until the product or
service has been delivered and charged.
b. Mass market: Mass marketing is a market strategy in which a company
decides to ignore the differences in market segments and to appeal to the
entire market with an offer or a strategy. The idea is to convey a message
that reaches as many people as posible
c. Price: amount of money that allows the acquisition or use of a good or
services.
d. Demand: quantity of goods and services required by a group of people in a
given market, influenced by interests, needs and trends.
e. Marketing mix: is a analysis of the internal strategy of companies with four
variables: Price, products, distribution and promotion.
f. Market segmentation: is the process of dividing a target market into smaller,
more defined categories. It segments customers and audiences into groups
that share similar characteristics such as demographics, interests, needs, or
location.
g. Product: is the item offered for sale. A product can be a service or an item. It
can be physical or in virtual or cyber form
h. Customer needs: are the things that customers require when purchasing a
product or service. Businesses must find out about their customer's needs in
order to be successful.
i. Business: is defined as an organization or enterprising entity engaged in
commercial, industrial, or professional activities.
j. Packaking: Packing or packaging is a container or wrapping that temporarily
contains products mainly to group units of a product thinking about its
handling, transport and storage.
k. Promotion: means spreading information about an product, service or
issue. Promotion as part of marketing means spreading information about a
product, product line, brand, or company.
l. Competition: is the rivalry between companies selling similar products and
services with the goal of achieving revenue, profit, and market share
growth. Market competition motivates companies to increase sales volume by
utilizing the four components of the marketing mix, also referred to as the four
P's
m. marketing strategy: refers to a business's overall game plan for reaching
prospective consumers and turning them into customers of their products or
services.
n. life cycle refers: to the length of time a product is introduced to consumers
into the market until it's removed from the shelves. The life cycle of a product
is broken into four stages—introduction, growth, maturity, and decline.
 o. Technology: is the application of science to solving concrete problems. It
constitutes a set of scientifically ordered knowledge, which allows the design
and creation of goods or services.
p. feature is a distinctive trait or a special attraction. Feature can also mean to
give special attention to something. The word feature has several other
senses as a noun and a verb. A feature is a unique quality
or characteristic that something has.
q. Customer: is an individual or company that purchases goods or
services. Customers are the end users. They do not sell what they bought to
others.
r. Distribution: means to spread the product throughout the marketplace such
that a large number of people can buy it.
s. Supermarket: is a self-service shop offering a wide variety of food,
beverages and household products, organized into sections. It is larger and
has a wider selection than earlier grocery stores, but is smaller and more
limited in the range of merchandise than a hypermarket or big-box market.
t. The market size: for a business line is the total potential number of
customers or sales, usually in a given year.

6. Write a ten lines text that summarizes the topic of the activity.
Supply and demand depend on various factors in the market segment such as: price,
identification of specific customer needs, product appearance and distribution.
The product has a life cycle which is extended by changing the packaging to refresh
the tired brand and thus boost sales again.
Additionally, it is accompanied by the combination of the marketing mix, with price
promotions, and reviewing the competition, carrying out strategies that increase
sales through the fulfillment of the proposed objectives, using new technologies
nowadays.