1.

Match the Word with the corresponding meaning:

A. Supply: Disposition to offer products

B. Demand: Desire to buy any product
C. High price: Expensive
D. Mass market: All people
E. Life cycle: The lifetime of goods and services.

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

The most important aspect in order to determine a demand is that an specific customer need is
being satisfied. The fact that a product or service make client's life easier it make it demandable.
There are other influences in the market such as new technologies or fashion changes that motivate
the demand too.

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 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. The point of
benchmarking is to identify internal opportunities for improvement.

B. What is the process of Benchmarking?

Benchmarking is a simple, but detailed, five-step process:

Choose a product, service, or internal department to benchmark

Determine which best-in-class companies you should benchmark against – which

organizations you’ll compare your business to

Gather information on their internal performance, or metrics

Compare the data from both organizations to identify gaps in your company’s performance

Adopt the processes and policies in place within the best-in-class performers
C. Number the aspects to be taken into account in Benchmarking:

In order to benchmark anything, it is required to have quantitative data available to study. That
means breaking down internal processes to calculate performance metrics. Also acknowledge what
and where improvements are called for, to analyze how other organizations achieve their high
performance levels, and to use this information to improve performance.

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. luxurious

Adverts: advertisement. to remark or comment; refer. to turn the attention

Boost: to lift or raise by pushing from behind or below. to advance or aid by speaking well
of; promote. to increase; raise
Brand: kind, grade, or make, as indicated by a stamp, trademark, or the like. to label or mark
with or as if with a brand. any mark of disgrace; stigma.
Business: an occupation, profession, or trade. the purchase and sale of goods in an attempt
to make a profit. containing, suitable for, or welcoming business or commerce
Distribution: an act or instance of distributing. the state or manner of being distributed.
arrangement; classification. something that is distributed. the frequency of occurrence or
the natural geographic range or place where any item or category of items occurs.
placement, location, arrangement, or disposition.
Feature: a prominent or conspicuous part or characteristic. Also called feature film . the
main motion picture in a movie program. to be a feature or distinctive mark of.
Jewellery: articles of gold, silver, precious stones, etc., for personal adornment.
any ornaments for personal adornment, as necklaces or cuff links, including those of base
metals, glass, plastic, or the like.
Life cycle: Biology . the continuous sequence of changes undergone by an organism from
one primary form, as a gamete, to the development of the same form again.
a series of stages, as childhood and middle age, that characterize the course of existence of
an individual, group, or culture.
Luxurious: characterized by luxury; ministering or conducive to luxury. given to pleasure,
especially of the senses; voluptuous.present or occurring in great abundance, rich
profusion, etc.; opulent.
Marketing: the act of buying or selling in a market. the total of activities involved in the
transfer of goods from the producer or seller to the consumer or buyer, including
advertising, shipping, storing, and selling.
Mass market: (of products) produced and distributed in large quantities and intended to
appeal to the widest range of consumers. to produce and distribute to the widest range of
consumers.
Objective: something that one's efforts or actions are intended to attain or accomplish;
purpose; goal; target.
Overall: covering or including everything.
Packaging: an act or instance of packing or forming packages. the package in which
merchandise is sold or displayed.
 Promotion: advancement in rank or position. something devised to publicize or advertise a
product, cause, institution, etc., as a brochure, free sample, poster, television or radio
commercial, or personal appearance.
Sales: the act of selling. opportunity to sell; demand. a special disposal of goods, as at
reduced prices. transfer of property for money or credit.
Segment: one of the parts into which something naturally separates or is divided; a division,
portion, or section.
Stage: a single step or degree in a process; a particular phase, period, position, etc., in a
process, development, or series. a raised platform or floor, as for speakers, performers, etc.
Strategy: a plan, method, or series of maneuvers or stratagems for obtaining a specific goal
or result.
Target: an object, usually marked with concentric circles, to be aimed at in shooting practice
or contests. any object used for this purpose.

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

Identifying customers needs is relevant to succeed in business. Market research findings are
important in developing the overall marketing mix for a given product. By adjusting the features,
appearance, price and distribution method for a target market segment we focus our attention on
especific clients requirements. The combination of product, price promotion and place chosen by a
business will depend on its size, competition, the nature of the product and its objectives. Now days,
the control of all aspects and variants of a productive chain is more eficient due to the application
of tecnology, for example, the life of a product can be extended by changing packaging, althought
it have limited product life cycle. Tecnology had become a bridge between customers and
companies providing a constant comunication from the identification of a nececity to its satisfaction.
In the future, products will adapt to each client needs at the time we speak.