SERVICIO NACIONAL DE APRENDIZAJE (SENA) 22 de julio de 2021

García Monsalvo, L Aprendiz Servicio nacional de Aprendizaje (SENA), Gestión de Mercados,

lkgarcia037@misena.edu.co, Santa Marta:

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 mark 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 characteristics, appearance, price and distribution method for a target market segment are taken into account
to determine the demand for a product.
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)
SERVICIO NACIONAL DE APRENDIZAJE (SENA) 22 de julio de 2021

4. Answer the following questions

a. What is Benchmarking
Benchmarking is a business technique that consists of using a “comparator” or “benchmark” as a reference for
those products, services or efficient work processes that are considered to be the best practice in that area.
(Arias, 2021)

b. What is the process of Benchmarking?

Planning: Planning must answer three questions: what we want to measure, who we want to measure and how we
are going to do it.
Data Collection: The more information we can collect, the more complete the subsequent analysis will be and the
better results we will be able to obtain.
Analysis: During this stage we can identify opportunities for improvement and those aspects in which our company
fails. Once the analysis has been carried out, improvements should be proposed.
Action Plan: Once the information has been compiled, analyzed and the relevant proposals have been drawn up, it is
time to take action.
Folow- up of the plan: In this last stage, a follow-up of the benchmarking process should be carried out, as well as a
subsequent analysis that compiles all the relevant information of the process.

Planning

Data
Collection

Analysis

Action
Plan

Folow- up
of the plan
SERVICIO NACIONAL DE APRENDIZAJE (SENA) 22 de julio de 2021

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

 Price.
 Financial statements.
 Marketing, advertising and SEO positioning.
 Human resources.

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.

- Business : A business is a method of forming or obtaining money in exchange for products, services, or any
activity that you want to develop.

- Competition: We speak of competencies when we proceed to evaluate, train, develop and measure the
contribution of a person to the success of his or her job.

- Company: It could be said that a company is the set of personnel, spaces, raw materials, machinery and
others that together produce something.

- Demand : Market demand can be defined as the quantity of goods and services required by a group of people
in a given market, influenced by interests, needs and trends.
-
- Development: development is the process by which a community progresses and grows economically,
socially, culturally or politically.

- Distribution: Distribution is the action and effect of distributing (dividing something among several people,
giving something a convenient destination, delivering a good).

- Information : Information is the name given to an organized set of processed data constituting a message
that changes the state of knowledge of the subject or system receiving the message.

- Life cycle : The life cycle of a company is the process of stages through which it passes during its life.

- Market : Market is understood as the process of exchange or transaction of goods and services that occurs
between individuals who can be distinguished as suppliers and demanders.
- Marketing : Marketing is the science and art of exploring, creating and delivering value to satisfy the needs
of a target market at a profit.
SERVICIO NACIONAL DE APRENDIZAJE (SENA) 22 de julio de 2021

- Materials: are the tangible or concrete assets that a company or organization has at its disposal in order to
fulfill and achieve its objectives, such as: facilities, raw materials, equipment, tools, among others.

- Packaging : Packaging is all that is necessary in the process of conditioning products to protect them, and/or
grouping them temporarily for handling, transport and storage.
-
- Price: Price is the payment or reward assigned to the procurement of goods or services or, more generally,
to any commodity.
- Products : A company's product is everything that it develops and manufactures to offer to the market and
thus satisfy certain needs of the customers who will purchase it.

- Segmentation : Market segmentation, also known as customer segmentation or audience segmentation, is a

method by which potential customers can be divided into different groups, allowing companies to send
personalized messages to the right audiences.

- Software : Business software is generally understood to be any type of software that is intended to help a
company or an organization improve its productivity and/or measure it.

- Strategy : Strategy is a procedure for decision making and/or action in a given scenario.

- Technologies : Business technology is understood as any technology that can be applied in the business
sector in order to make the company's activity more competitive and efficient. In this sense, business
technology can be divided into two main sectors: hardware and software.
-
6. Write a ten lines text that summarizes the topic of the activity
The activity consisted of acquiring knowledge through reading comprehension by means of a text concerning the
subject of supply and demand, defining concepts in a didactic and consistent manner.
Also, allowing the practical application of these in examples of companies 'for a feedback of the subject; this
allows the learner to delve into the concepts already learned and apply them in the English language, learning
words, creating glossaries and defining meanings.
the activity was very acquisitive in terms of knowledge and in my own opinion, this topic from all points of view
has allowed me to assume in a concise and deep way the treated subject.
And learning that:
The term demand refers to the quantity of goods or services demanded or desired in a given market in an
economy at a specific price. The term supply refers to the quantity of goods, products or services offered in a
market under given conditions.