ESTABLISH SUPPLY AND DEMAND THROUGH MARKET INFORMATION

SYSTEM.

Presented by:
Lorena Salas

Evidence
"Reading comprehension workshop".

Instructora:
Daniela Estefanía Machado Cardenas

SERVICIO NACIONAL DE APRENDIZAJE – SENA

a. Supply Expensive

b. Demand Desire to buy any product

c. High price All people

d. Mass market The lifetime of goods and services.

e. Life cycle Disposition to offer products

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

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.

3. Write F for false or T for true

a. Production cost depends on Technology F (x) V ( )

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 (x) V ( ).

d. Price is the amount a customer pays for the product F (x ) V ( )

e. Planning is to transform and develop marketing objectives to marketing strategies F ( ) V ( x)

4. Answer the following questions

a. What is Benchmarking?
Is a way of discovering what is the best performance being achieved – whether in a 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.

b. What is the process of Benchmarking?

Benchmarking is a simple and detailed five-step process:

Choose an internal product, service or department to evaluate the evaluation.

Gather information on your internal performance or your metrics.

Compare data from organizations to identify gaps in your company's performance.

Adopt the process and policies along with the performance of the best in their class.

The benchmarking will indicate which changes will have the greatest difference, but it is up to
you to carry them out.

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

Quality:

Among the aspects we have the quality, which refers to the level of value created of the products
for the customer on the cost of producing them. Within this aspect, benchmarking can be very
important to know the way in which the other companies form and manage their quality systems,
apart from being able to be used from a quality point of view according to the quality perceived
by customers, which It is determined by the relationship with the customer, the satisfaction of the
customer and finally the comparisons with the competition. You can also see the aspect of
quality according to what is called quality relative to standards, which refers to designing quality
systems that ensure that the quality resulting from them will adhere to or comply with
predetermined specifications and standards, which It can be done by reviewing the development
and design process, production and distribution processes and support processes such as
accounting, finance, etc. Finally, within the aspect of quality, we can see the reference to
organizational development since we focus so much on what we do, on the development of
human resources, on their commitment and involvement, as well as on training.

Productivity:

Productivity benchmarking is the pursuit of excellence in the areas that control input resources,
and productivity can be expressed by the volume of production and the consumption of resources
which can be costs or capital.
Weather:

The study of time, as well as quality, symbolizes the direction of industrial development in
recent years. Faster flows in sales, administration, production and distribution have received
greater attention as a potential factor in improving productivity and competition. The
development of time-focused programs has demonstrated a spectacular ability to cut delivery
times.

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. Marketing: is a discipline composed of a set of strategies and methods that are developed
around the promotion and sale of a product or service. The word marketing derived from
English, which in Spanish is translated as marketing.
2. Premium brand: it is technically one of the highest prices in the traditional market.
3. Mass marketing: it is a market strategy in which a company decides to ignore the
differences in market segments and to appeal to the entire market with an offer or a
strategy.
4. Supermarket (also called automercado or supermarket) is a retail store that offers
consumer goods in a self-service system, including food, clothing, hygiene items,
perfumery and cleaning.
5. Promotion: is the action of promoting a person, thing, service, etc. It aims to promote and
disseminate products, services, goods or ideas, to publicize and persuade the public to
perform an act of consumption.
6. Market research: is one of the functions of marketing that is responsible for obtaining and
providing data and information for decision-making related to the practice of marketing,
for example, making known what needs or desires exist in a given market, who are or can
be potential consumers or customers, what are their characteristics (what do they do,
where do they buy, why, where are they located, what are their revenues, etc.), what is
their degree of willingness to meet their needs or desires, among others.
7. Distribution: it is the action and effect of distributing (dividing something among several
people, giving something the convenient destination, delivering a merchandise).
8. The market segment: it is a relatively large and homogeneous group of consumers that
can be identified within a market, who have desires, purchasing power, geographical
location, buying attitudes or similar buying habits and who will react similarly to a
marketing mix
9. A target market: it is a specific group of people who have decided to make them part of
your customer base. These projections are based on demographic studies and market
research conducted with various sample groups. There are several factors used to
determine a target market.
10. The life cycle: it is a concept that refers to the appearance, development and completion
of the functionality of a certain element.
11. A market: it is an enclosure where necessities are sold, usually food.
12. Advertising: is a form of communication that tries to increase the consumption of a
product or service, insert a new brand or product into the consumer market, improve the
image of a brand or reposition a product or brand in the mind of a consumer.
13. Competition: refers to the existence of a large number of companies or people who offer
and sell a product (are suppliers) in a given market, in which there are also people or
companies, called consumers or claimants, which, according to their preferences and
needs, they buy or demand those products from the bidders.
14. Retail: it is an economic sector that encompasses companies specialized in mass
marketing of products or services uniform to large numbers of customers.
15. An executive film, television or new media producer generally supervises the realization
of an entertainment product: it can influence the formation of the story, the script or
actively contribute to the budget, its collection and administration, usually participate on
behalf of the study it produces, and defend its interests.
16. Product: Marketing establishes that a product is an object that is offered in a market with
the intention of satisfying what a consumer needs or wants.
17. Cheap: it is a concept that qualifies what presents a reduced or lower price than usual.
18. A designer: he is a professional who practices the Design Profession. You can devote or
specialize in a wide variety of objects or areas of design.
 19. TV commercial or advertisement: it is an audiovisual support to an audience through the
electronic medium known as television. Its duration is usually between 10 and 60 seconds
to promote a product, service or commercial institution.
20. Market research: it is a technique that allows data to be collected, of any aspect that you
want to know and then interpret and make use of them.

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

The theme of this activity referred to the marketing mix through constant market research. The
specific needs of the client in the company are identified.

Examples include the introduction of new technologies and changing fashion.

 goods and services have a limited product life cycle. The marketing mix is adjusted to consider
at each stage.
Sellers must also create the right product mix. It may be advisable to expand your current
product mix by diversifying and increasing the depth of your product line.
Consequently, prices that are too high will make costs outweigh the benefits in the eyes of
customers, and therefore, will value their money on your product.

Distribution is a very important part of the definition of the product mix. You must place and
distribute the product in a place that is accessible to potential buyers.