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.

a. Supply c a. Expensive

b. Demand b b. Desire to buy any product

c. High price e c. All Match the Word with the

d. Mass market a d. corresponding

e. Life cycle d e. meaning: people

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. Writhe 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 of determining who the best one is. It is an amount of the
quality of company’s products, policies, programs, tactics, etc., and their contrast with
standard 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 step 3.

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.

1. Allowances: It is about the act and the result of assigning: indicating, establishing or
granting what corresponds. The concept can be used with reference to the amount stipulated
as salary or for another kind of perception.

2. Assortments: The set of items that a commercial establishment offers for sale is called assortment.
It refers to the variety of items present in the sales room, not the quantity of a particular product.

3. Alliances: Alliance is a term that comes from the verb aliar and that, therefore, refers to the
action taken by two or more people, organizations or nations when signing a pact,
agreement or convention, as the case may be.

4. Business: Business is any occupation, task or work that is done to obtain a profit of
lucrative effect, through activities of production, commercialization or rendering of
services.

5. Benchmarking: Benchmarking is a systematic and continuous process to evaluate the

products, services and work processes of organizations recognized as the best practices, the
toughest competitors

6. Channels: When the distribution channel is "direct" the manufacturer sells directly to the
final consumer without the need for intermediaries. When the distribution channel is
"indirect" the product goes through several hands before reaching the final consumer

7. Coverage: The majority of hedging operations consist of adopting positions that offset
other positions that are held open. For example, a hedge could be a future contract on shares
that compensates for the risk that has been acquired when buying those same shares.
However, coverage can manifest itself in many ways.

8. Devotion: The concept of devotion has its origin in a Latin word that is about the
manifestation of an emotion of a person with respect to an ideology.

9. Discounts: the term discount refers to the act and the result of discounting: reduce a
quantity, give something by the way. The idea of discount is usually used with respect to
the amount that, at certain times or circumstances, is discounted from a price, a rate, a fee
or a salary.

10. Design: The term is used with reference to the delineation of something or the elaboration
or configuration of a project. Graphic, on the other hand, is that linked to a representation
that is made through figures or signs.

11. Features: a characteristic is a quality that allows identifying something or someone,

distinguishing it from its peers. It can be questions related to temperament, personality or
symbolism, but also to the physical aspect

12. Factors: the term factor, of Latin origin, has different uses. In the field of mathematics, it is
known as a factor each of the quantities or expressions that can be multiplied to form a
product

13. Inventory: Ordered list of assets and other valuables that belong to a person, company or
 institution.

14. Negotiations: Negotiation is the action and effect of negotiating. ... In this sense,
negotiation involves a process of dialogue between two or more people or parties between
whom a conflict has arisen, usually motivated to the parties involved have some common
interests and other opposed

15. Product: A product is a thing or an object produced or manufactured, something material

that is produced in a natural or industrial way by means of a process, for the consumption or
utility of the individuals.

16. Promotion: Promotion is a term that refers to the action and effect of promoting. This verb,
on the other hand, refers to starting or promoting a process or a thing; raise someone to a
higher position or job than they had; or take the initiative to do something

17. Planning: Planning is a conscious and responsible development of any type of project. In
the field of research, construction, administration and management, the planning of a
project is a fundamental requisite for the successful completion of this project.

18. Systems: A system is a set of related elements that works as a whole. The word system
comes from the Latin systēma, and this from the Greek σύστημα (systema), identified in
Spanish as "union of things in an organized manner".

19. Services: A Service is a set of actions which are performed to serve someone, something or
some cause. Services are functions performed by people towards other people in order that
they meet the satisfaction of receiving them.

20. Target: Objective is also someone who expresses himself without his way of thinking or
feeling influencing his ideas or opinions. He is an impartial or dispassionate person.

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

The theme of the activity is to know the supply and demand of a product Supply and demand are two
important concepts in the economy.
They relate to each other, because when one increases, the other decreases are also related to the amount of
products and with balance in the price. Let's go to study some aspects of these issues.
where the demand refers to the desire, capacity and disposition of consumers to buy any product.
and the supply is related to the capacity and the willingness of producers to
We offer products for sale.
Supply and demand are two essential aspects in the market. Why the market is dynamic, marketing specialists
use a variety of tools in To achieve the objectives of the company through the combination or mix (mix)
These tools are known as "Marketing Mix", which refers to the types of marketing variables.