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Ap04-Ev04 Reading Comprehension Workshop

This document provides a reading comprehension workshop that covers topics related to markets, including demand, supply, and the four Ps of marketing (product, price, place, promotion). It contains questions to test the reader's understanding of key terms and concepts. Some questions are true/false, while others involve matching terms to definitions, answering short questions about benchmarking and demand factors, or writing a short summary. An activity on vocabulary building is also included, where participants identify important words from the text and provide their definitions.

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Santiago Zapata
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29 views9 pages

Ap04-Ev04 Reading Comprehension Workshop

This document provides a reading comprehension workshop that covers topics related to markets, including demand, supply, and the four Ps of marketing (product, price, place, promotion). It contains questions to test the reader's understanding of key terms and concepts. Some questions are true/false, while others involve matching terms to definitions, answering short questions about benchmarking and demand factors, or writing a short summary. An activity on vocabulary building is also included, where participants identify important words from the text and provide their definitions.

Uploaded by

Santiago Zapata
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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AP04-EV04 READING COMPREHENSION WORKSHOP

JHONATAN MATIZ LOPEZ


MANUEL SANTIAGO ESTRADA ZAPATA
ELIANA MARIA PARRA
YESICA NATALIA MONTOYA VILLA

GESTIÓN DE MERCADOS
FICHA 2104714

SERVICIO NACIONAL DE APRENDIZAJE - SENA


2020
READING COMPREHENSION WORKSHOP

1. Match the Word with the corresponding meaning:

a. Supply _C_ Expensive


b. Demand _B_ Desire to buy any product
c. High price _D All people
d. Mass market _E__ 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.

The measure of the demand for a product or service will be the number of people
who buy it or make use of it.

This means that, when a product is made or a service is provided and placed on
the market, the product must meet the characteristics that users seek, in terms of
volume, price, packaging, quality, and seasonal supply, among other factors.

If this is achieved, the product or service is sold and the money generated is used
to continue operations and to cover the costs of the investment.

3. Write F for false or T for true

• Production cost depends on Technology

F ()
T (X)

• As greater the expectations are, the lower will be the offer from the
companies.

F (X)
T ()
• One of the four Ps of marketing mix is Package

F (X)
V ()

• Price is the amount a customer pays for the product

F (X)
V ()

• 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. 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 identifies areas of weak performance where changes need to be


made to the way things are done, while process benchmarking is a vehicle for
achieving this change.

Advantages: Such detailed benchmarking includes comparisons of engineering


practices, data collection procedures, office routines and performance indicators
for each of the processes under study. Flow diagrams can capture key
relationships and assist managers in identifying areas for improvement.

Disadvantages: The focus on specific procedures is very management-oriented,


which means that an external monitor must depend on the information provided by
utilities. Comparisons across utilities can be problematic due to particularities
between the different utilities.

Application: benchmarking to identify and isolate areas for improvement.


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

1. Focus on the key business drivers.


2. Decide who to benchmark against.
3. Compare strategic objectives.
4. Assess the efficiency of your processes.
5. Analyse your allocation of resources.
6. Weigh your costs against industry norms.
7. Calculate sales per employee.
8. Work out your profit margins.
9. Measure your customer service standards.
10. Obtain benchmark information without approaching an external benchmarking
partner.

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.

• ADVERTS: it is a visual, auditory or audiovisual medium of short duration


that transmits a message, usually centered on an idea or a specific event,
for advertising purposes.

• BUSINESS: It consists of a method of forming or obtaining money in


exchange for products, services, or any activity that you want to develop.

• CUSTOMER: Is the person or company receiving a good, service, product


or idea, a change of money or other item of value.

• CHEAP: Which has a low price or costs little money.

• COMPANY: Entity in which capital and labor are involved as factors of


production as factors of production of industrial or commercial activities or
for the provision of services.

• DEMAND: the quantity of goods and services that are acquired by


consumers at different prices, at a specific time unit since without a
temporary parameter we can not say if a quantity of demand grows or
decreases

• GOODS: they refer to anything, tangible or intangible, that is useful to man


and that satisfies, directly or indirectly, some individual or collective desire or
need, or that contributes to the welfare of individuals.

• MARKETING: It is about the discipline dedicated to analyzing the behavior


of markets and consumers.
• NEW: That just appeared, to be formed or manufactured.

• PRICE: Amount of money that allows the acquisition or use of a good or


service.

• PRODUCT: It is an eligible, viable and repeatable option that the offer


makes available to the demand, to satisfy a need or meet a desire through
its use or consumption.

• PROMOTION: It consists of short-term incentives, to consumers, to


members of the distribution channel or to sales teams, who seek to increase
the purchase or sale of a product or service.

• RESEARCH: it is considered an activity oriented to the obtaining of new


knowledge and its application for the solution to problems or scientific
questions.

• STRATEGY: It is a high-level plan to achieve one or more objectives in


conditions of uncertainty.

• SELL: It is changing products and services for money. From the legal point
of view, it is about the transfer of the right of possession of a good, in
exchange for money.

• SERVICES: they are functions exercised by people towards other people in


order that they comply with the satisfaction of receiving them.

• STORE: it is a type of commercial, physical or virtual establishment, where


the buyer can acquire both goods and services in exchange for money.

• TECHNOLOGY: a set of scientifically ordered knowledge that allows the


design and creation of goods or services that facilitate adaptation to the
environment and the satisfaction of the essential needs and desires of
humanity.

• UTILITIES: It is the profit or benefit that can be obtained from something.


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

DEMAND refers to the quantity of goods or services that are requested or desired
in a certain market of an economy at a specific price. Taking into account the
above, this can be influenced by a large number of factors that will determine the
amount of product requested or demanded or even if it is in demand or not. Some
of these are: consumer preferences, their habits and the information they have
about the product or service in which they are interested, the economic capacity of
the consumer, the utility or well-being that the service provides and the price
between others. It is important to note that these factors can change over time or in
a certain moment and / or situation. OFFER refers to the amount of goods,
products or services that are offered in a market under certain conditions. Price is
one of the conditions since it determines the level of supply in a good or market.

Product: the product that was chosen are the surprise breakfasts, where the client
will be offered a variety of breakfasts for that special person, and the choice of
products that he wants at breakfast, through of a virtual platform.

Price: according to the demand curve, the breakfasts are at a balance point of
70,000 each and the monthly sales of 40 units

Distribution: breakfasts will be available for your request at strategic points of


candy stores, rose shops and teddy shops. of the consumer, and do it at the same
time in a way that stimulates your purshase.

Promotion: the main source of publicity will be through a post on social networks
and love pages framed by an audience of 16 to 35 years old.
ACTIVITY THE MARKET THING
LET´S READ
ACTIVITY THE MARKET THING
VOCABULARY

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