English Workshop Supply And Demand.docx

English workshop

Name Pérez Valderrama Yicela Tovar Montaña Jennifer Geraldine Vargas Ramírez Valentina Paola

Instructora Sandra Paola Rodríguez Reyes

Ficha 1668006

Sena 2018

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------- Disposition of 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.  Tastes or preferences  Number of consumers  Income  Consumer expectations  Price of related goods

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 the procedure to determine who the best is. That is a quantity of the quality of the products, policies, company programs, tactics, etc., and their contrast with standard measures, or similar amounts of others. It is, also, the continuous systematic process to evaluate the companies that are recognized as the best in their class. b. What is the process of Benchmarking?

Benchmarking has different phases: Planning Analysis Integration Action This serves to analyze and plan the improvement of products or services to be more competitive with other companies that offer substitute or complementary products.

1. 2. 3. 4. 5. 6. 7. 8. 9.

c. Number the aspects to be taken into account in Benchmarking: Product Price Sales systems Payment systems Advertising Promotion Location Organization Planimetry

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. 1. Business: Occupation, activity or work that is done to obtain a benefit, especially the one that consists in carrying out commercial operations, buying and selling goods or services. 2. Demand: is what a consumer is willing to buy either a product or service at different prices, either by necessity or pleasure. 3. Distribution: is to transport a product to the place of sale, then and where they are going to consume it. 4. Expectation: possibility of achieving a goal or buying a product. 5. Income: is what people receive for their work and what they are willing to spend on product. 6. Location: Situation or place where something is found. 7. Marketing: it is the discipline of analyzing the commercial management of companies with the aim of capturing, retaining and making customers loyal through the satisfaction of their needs.

8. Partner: is the legal relationship between two parties, who have obligations to that company. 9. Person: individual willing to demand a product for pleasure or necessity. 10. Place: situation or position, real or figurative, which corresponds to a person by its function, importance or status 11. Planimetry: Part of the topography that deals with the measurement and representation of a portion of the earth's surface on a flat surface. 12. Planning: To transform and develop marketing objectives for marketing strategies

13. Preference: circumstance of preferring a certain product over others. 14. Price: this is what the client is willing to pay, and the company to bid. 15. Product: is what is supply and demanded by consumers and company. For example the eagle beer 16. Production: manufacture and elaboration of a product by passing through different procedures 17. Promotion: is the attempt to influence the client to buy a certain product or service. 18. Publicity: is the way to publicize a product or service by any form of communication whether social networks or television. 19. Supply: is what is willing to bid or sell a company at that price. 20. Technology: Set of instruments, technical resources or procedures used in a specific field or sector.

6.

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

The supply and demand is the most important in the market since the demand is what customers need or are willing to buy and the offer what the company is willing to sell. Taking into account aspects such as price, tastes and income, among others. Since to sell you have to have people who want to buy the product or service at a certain price, it also becomes necessary advertising, presentation of the product for people to recognize it among the other substitute or complementary products. The supply and demand is important in the market as this covers the important of the product against others, in the specialists study the market for the product to offer to achieve the company's objectives using techniques such as price, distribution, place and the most

important the product. So that the company and the product are positioned in the market being the best.