Taller de comprensión de lectura”

Presentado Por:

Alejandro Marín
Presentado A:
DANY ALONSO SANCHEZ

1565086
Gestión de Mercados
1: Match the Word with the corresponding meaning:
A: Supply ___C______Expensive
b. Demand ___D______Desire to buy any product
c. High Price ____E_____All people
d. Mass market ____B______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.

Understanding these factors is key because they determine whether the

investment is really justified - either because people want to buy the product in the
case of projects aimed at generating income, or because the investment
contributes to improving quality of life
I think that a technology product is very important because it will make life easier
for people and I would believe that it is a very good investment in the purchase of
this 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 ( ) V (x )
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 process of measuring the performance of a company’s
products, services, or processes against those of another business considered to
be the best in the industry, aka “best in class.” The point of benchmarking is to
identify internal opportunities for improvement. By studying companies with
superior performance, breaking down what makes such superior performance
possible, and then comparing those processes to how your business operates, you
can implement changes that will yield significant improvements.

b. What is the process of Benchmarking?

Benchmarking is a way of discovering what is the best performance being
achieved – whether in a particular company, by a competitor or by an entirely
different industry. This information can then be used to identify gaps in an
organization's processes in order to achieve a competitive advantage

Planning
Prior to engaging in benchmarking, it is imperative that corporate stakeholders
identify the activities that need to be benchmarked.

For instance, the processes that merit such consideration would generally be core
activities that have the potential to give the business in question a competitive edge.

Collection of Information
Information can be broadly classified under the sub texts of primary data and
secondary data.

To clarify further, here, primary data refers to collection of data directly from the
benchmarked company/companies itself, while secondary data refers to information
garnered from the press, publications or websites.

Analysis of Data
Once sufficient data is collected, the proper analysis of such information is of
foremost importance.

Data analysis, data presentation (preferably in graphical format, for easy reference),
results projection, classifying the performance gaps in processes, and identifying
the root cause that leads to the creation of such gaps (commonly referred to
as enablers), need to be then carried out.

(4) Implementation
This is the stage in the benchmarking process where it becomes mandatory to walk
the talk. This generally means that far-reaching changes need to be made, so that
the performance gap between the ideal and the actual is narrowed and eliminated
wherever possible.

A formal action plan that promotes change should ideally be formulated keeping the
organization's culture in mind, so that the resistance that usually accompanies
change is minimized.

Monitoring
As with most projects, in order to reap the maximum benefits of the benchmarking
process, a systematic evaluation should be carried out on a regular basis.

Assimilating the required information, evaluating the progress made, re-iterating the
impact of the changes and making any necessary adjustments, are all part of the
monitoring process.

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

Benchmarking allows an entity to make a comparison of its methods, processes

and different situations related to the operation, with respect to those of a
competitor or different companies from different sectors to which it belongs. The
technique in question has been used by many companies to improve their methods
and improve their financial indicators. Based on this, we present below the 4 steps
that an entity must follow to perform benchmarking

Step 1. Identify what aspects should improve

The first thing that must be defined at the time of benchmarking are the situations
that are to be improved in the entity. These may be associated with processes that
have a significant impact on production, a situation that represents a negative
indicator on the part of the evaluation carried out by customers or users, processes
that generate bottlenecks, among others. Some examples of processes to improve
are:

Customer service.
 Billing processes.
 Registration and maintenance of inventories.
 Determining points of the production process in series.
 Management of sales channels.
 Treatment and dissemination of information..

Step 2. List companies under analysis

After determining the situations that are going to be submitted to improvement, the
companies to be taken as a reference are selected; these may have an economic
activity similar or different to that of the organization; in fact, the important thing is
to choose a company in which its processes and strategies can serve as a
reference to improve aspects of the entity, determined in step

Step 3. Identify the best business practices

After selecting the companies to be studied, the information required for the
analysis must be determined. In this stage, data is collected through journals,
publications, research works, studies, interviews, surveys, among others.
Subsequently, the information collected is reviewed, identifying the aspects that
these companies have taken into account (which perhaps the entity has never
applied), and which are the basis of success in a certain process. Step

4. Adopt and adapt best practices

This last step starts with an analysis of the best business practices identified in the
study and determining the feasibility of carrying them out in the entity. It should be
noted that different leading companies can handle some strategies due to tax
exemptions, operating capacity, high technology in their operation plant, and it may
be that the entity subject to improvement does not have these conditions, in which
case the adaptation process does not could be carried out successfully
5. Write the vocabulary (10 words) from the reading, and make a Glossary:
Organize the words in alphabetic order and write the meaning of each word.

benchmarks = parámetros referenciales

feedback = retroalimentación, respuesta, interacción

hours = horario de servicio, horario de atención

implement = ejecutar, poner en práctica

online searching = búsqueda en línea, búsqueda automatizada

accelerator: acelerador
aid: ayuda económica.
appreciation: apreciación o valorización.
assets: activos.
average: promedio.

6. Write a ten lines text that summarizes the topic of the activity.
At present, companies have to compete not only with companies from the same
region, but also with increasing competition with other companies from other
places and countries, due to the globalization that has been occurring. It is for the
foregoing that companies must look for ways or formulas that lead to higher
productivity and quality to be competitive. One of these tools or formulas is
Benchmarking.

Benchmarking is one of these tools, which keeps the organization in a process of

continuous research and measurement of processes, both internal and from other
institutions, in order to seek the highest standards with which to compare the
management of the work group itself , helping the good administration of the
organization.
Benchmarking must be an integral part of the planning and goal setting process of
the organization.