SUPPLY AND DEMAND ACTIVITY

INSTRUCTOR:

LILIANA SOLARTE

APRENDIZ

NIDIA JACQUELINE PEDRAZA CONTRERAS

GESTION DE MERCADOS
1792927
SERVICIO NACIONAL DE APRENDIZAJE SENA
CENTRO DE TELEINFORMATICA Y PRODUCCION INDUSTRIAL
2019
 1. Math the Word with the correct meaning.

a. Supply C expensive
b. Demand B Desire to buy a product.
c. High price D all people
d. Mass mark E the lifelime of goods and services
e. Life cycle A Disposition to offers products

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

Tastes or preferences: Consumers may demand for an item one year and ignore
in the next.
Number of consumers: A large quantity of buyers carries to an increase
undemand; a small quantity
Income: quantity demanded will rise too. When income falls, the demand of that
product will fall too.
Customers expectation: Purchasers are interested in satisfying their consumption
regarding quality as the most important factor.
Price of Related goods There are two kinds of related goods that can affect
substitutes and complementary.

3. Write F false or T for true

a. Production costs depends on technology. T (TRUE)

b. As greater expectation is, the lower will be the offer from the companies. F
(FALSE)
c. One of the 4 Ps of marketing mix is package. F (FALSE)
d. Price is the amount a customer pays for the product. T (TRUE)
 e. Planning is to transformer and developed marketing objectives to marketing
strategies. T(TRUE)

4. Answer the following questions.

a. What is Benchmarking?

Benchmarking, is the procedure to determining who’s the best one is, It is an

amount of quality of company´s products, policies, programs tactics, and etc. and
their contrast with standards measurements, or similar amounts of others.

b. What is the process of Benchmarking?

 Planning: It is the plan for running the benchmarking investigation.

 Analysis: After analyzing the information, it obtains a basis for comparison.
 Integration: Develop aims and incorporate them into the benchmarked
process.
 Action: It refers to the action plans necessary to achieve the objetives
decided in the integration.

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

 Product It is the thing produced by labor or effort.

 Price It refers to the quantity of payment or compensation given by one
party to another in return for goods or services.
 Sales systems It is a set of principles, processes, strategies and tools that
are put into place to bring the company results day-in and day-out.
 Payment systems It is used for transferring money include debit cards,
credit cards, and e-commerce payment systems.
 Advertising It is a form of communication used to encourage or persuade
an audience to continue or take some new action.
 Promotion It refers to the communications with the public in an attempt to
influence them toward buying your products and/ or services.
 Location It is a place where something is or could be located.
 Organization It is a social unit of people systematically structured and
 managed to meet a need or to pursue collective goals on a continuing basis.
 Planimetry It is the measurement of plane surfaces; for example, the
determination of, angles, horizontal distances and areas on a map.

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.

Achieve: (lograr) successfully bring about or reach (a desired objective or result)

by effort, skill, or courage.

Advertising: (publicidad) the activity or profession of producing advertisements for

commercial products or services.
Allowances: (asignaciones) the amount of something that is permitted, especially
within a set of regulations or for a specified purpose.
Amount: (cantidad) a quantity of something, especially the total of a thing or things
in number, size, value, or extent.
Assortments: (surtidos) a miscellaneous collection of things or people.
Benchmarking: (evaluacion comparative) evaluate (something) by comparison
with a standard.
Coverage: (coverture) the extent to which something deals with something else.
Effort: (esfuerzo) a vigorous or determined attempt.
Encourage: (animar) give support, confidence, or hope to (someone).
Likewise: (igualmente) in the same way; also.
Measurement: (medicion) the size, length, or amount of something, as
established by measuring.
Policies: (politicas) a course or principle of action adopted or proposed by an
organization or individual.
Planimetry: (planimetria) of, relating to, or made by means of a planimeter .
Purchase: (compra) acquire (something) by paying for it; buy.
Relate goods: (bienes relacionados) A decrease in demand means that
consumers plan to purchase less of the good at each possible price.
Retail: (al por menor) the sale of goods to the public in relatively small quantities
for use or consumption rather than for resale.

Surfaces: (superficies) the outside part or uppermost layer of something.

Target: (objetivo) Any objective of economic policy.
Toward: (hacia) in the direction of.
Wholesale: (venta por mayor) the business of selling of goods in large quantities
and at low prices, typically to be sold on by retailers at a profit.

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

At the economy there are two important concepts; supply and demand, they are
related each other, when one increases the other one decreases, they are related
with quantity of products and equilibrium price.
Demand is desire, ability and disposition to customers to get oy buy some product.
Supply is the ability or disposition of producer to offer products or service of sale.
Benchmarking is a procedure to determinate who´s the best one is, its an amount
of quality, of company´s products policies, programs, tactics. And their contrasts
with standard measurement or similar amounts of others.
It is, also, the continuous systematic process for evaluating the companies called
as the best class for the following procedures.
Establishing priorities target goals, developing product and process objective and
meeting or surprising industry best practices.