AP04-EV04- “TALLER DE COMPRENSIÓN DE LECTURA”

JENNIFER PAOLA RESTREPO CARRILLO

GUILLERMO ROBIN VIVAS BAYONA

SERVICIO NACIONAL DE APRENDIZAJE SENA

MADRID, 2019
DESCRIPCION DE LA EVIDENCIA SOLICITADA

Desarrollar un taller de comprensión lectora sobre términos técnicos en idioma

inglés, referente a oferta y demanda.

ORIENTACIÓN

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. Supply (3) Expensive

2. Demand (2) Desire to buy any product
3. High price (4) All people
4. Mass market (5) The lifetime of goods and services.
5. Life cycle (1) Disposition to offer products

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

1. Tastes or preferences

Consumers may demand for an item one year and ignore it the next.

2. Number of consumers

A large quantity of buyers carries to an increase in demand; a small quantity of

buyers carries to a decrease (Franny Chan website).

3. Income

When income rises, the quantity demanded will rise too. When income falls, the
demand of that product will fall too (Franny Chan website).

4. Consumer expectations

Purchasers are interested in satisfying their consumption regarding quality as the

most important factor. Likewise, the lead price has an effect on the potential increase
of the consumer´s final decision.

5. Price of related goods

There are two kinds of related goods that can affect the demand: substitutes (for
example, butter and margarine) and complementary (toys and batteries).
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 () V (x)

c. One of the four Ps of marketing mix is Packaging

F () V (x)

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)

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.

It is, also, the continuous systematic process for evaluating the companies that are
recognized as best-in-class, for the following purposes:

• Establishing priorities, target, goals

• Developing product and process objectives

• Meeting or surprising industry best practices

What is the process of Benchmarking?

Process of benchmarking Competition and its main aspects In benchmarking, it is

necessary to take into account the next aspects:
1. Planning

It is the plan for running the benchmarking investigation.

2. Analysis

After analyzing the information, it obtains a basis for comparison.

3. Integration

Develop aims and incorporate them into the benchmarked process.

4. Action

It refers to the action plans necessary to achieve the objectives decided in step 3.

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

In benchmarking, it is necessary to take into account the next aspects:

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.

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.

NO WORDS THE MEANING

1 Advertising the activity or profession of producing advertisements for
commercial products or services.
"her father was in advertising"
2 Benchmarking A measurement of the quality of an organization's policies,
products, programs, strategies, etc., and their comparison with
standard measurements, or similar measurements of its peers.
The objectives of benchmarking are (1) to determine what and
where improvements are called for, (2) to analyze how other
organizations achieve their high-performance levels, and (3) to
use this information to improve performance.
http://www.businessdictionary.com/definition/benchmarking.html
3 Demand Demand in economics is the consumer's desire and ability to
purchase a good or service. It's the underlying force that drives
economic growth and expansion. Without demand, no business
would ever bother producing anything.
4 Featured displayed, advertised, or presented as a special attraction
5 High-priced expensive; costly:
6 Life Cycle the series of stages in form and functional activity through which
an organism passes between successive recurrences of a
specified primary stage
7 Location position or site occupied or available for occupancy or marked by
some distinguishing feature : SITUATION
8 Maketin A marketing strategy is a business's overall game plan for
strategy reaching people and turning them into customers of the product
or service that the business provides. The marketing strategy of a
company contains the company’s value proposition, key
marketing messages, information on the target customer and
 other high-level elements. Read more: Marketing Strategy
Definition | Investopedia
https://www.investopedia.com/terms/m/marketing-
strategy.asp#ixzz5SSvckqU0
Follow us: Investopedia on Facebook
9 Mass-market sold through such retail outlets as supermarkets and drugstores
as well as through bookstores
10 Packaging
2. Practice of combining several related goods or services into a
single offer. See also bundling.

http://www.businessdictionary.com/definition/packaging.html
11 Partner The legal relationship between two parties, having specific
rights and responsibilities as a common company.
12 Passion Emotion, feelings. The emotions as distinguished from reason, a
strong taste or devotion for some activity
13 Planimetry
14 Planning To transform and develop marketing objectives to marketing
strategies.
15 Presentation It refers to the performances of presenting any of the 9P’s to your
suppliers, customers, clients, or partners. A descriptive or
persuasive account (Set forth for the attention of mind).
16 Price It´s is the amount a customer pays for the product. it includes
Retail price/wholesale, discounts, quantity discounts, credit
terms, sales and payment periods.
17 Product It´s the tangible object or service that can be offered to a market
for acquisition, use or consumption that might satisfy a want or
need.
18 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
19 Supply The total amount of a product (good or service) available for
purchase at any specified price.
20 Technology a manner of accomplishing a task especially
using technical processes, methods, or knowledge

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

Supply and demand is perhaps one of the most fundamental concepts of economics
and it is the backbone of a market economy. Demand refers to how much (quantity)
of a product or service is desired by buyers. The quantity demanded is the amount
of a product people are willing to buy at a certain price; the relationship between
price and quantity demanded is known as the demand relationship. Supply
represents how much the market can offer. The quantity supplied refers to the
amount of a certain good producers are willing to supply when receiving a certain
price. The correlation between price and how much of a good or service is supplied
to the market is known as the supply relationship. Price, therefore, is a reflection of
supply and demand.
The relationship between demand and supply underlie the forces behind the
allocation of resources. In market economy theories, demand and supply theory will
allocate resources in the most efficient way possible. How? Let us take a closer look
at the law of demand and the law of supply.