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 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 price of the product

 The promotion or publicity thereof
 Product characteristics
 Appearance

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 ( ) 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 )
4. Answer the following questions a.

What is Benchmarking?

Benchmarking is a competitive analysis process that helps improve the company's marketing
strategy to differentiate itself in the sector, it does not mean copying or plagiarizing the
competition.

b. What is the process of Benchmarking?

1. Define the aspects you want to improve

2. Build the team

3. Identify your competition

4. Begin the competition analysis

5. Analyze and interpret the information obtained

6. Decide on improvements and apply them

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

1. Improve your search engine positioning

2. You increase the knowledge of your target

3. Implement improvements in your marketing strategy

4. You know your competitors

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. Appearance: Set of characteristics or circumstances with which a person or a thing

appears or is presented at sight or understanding.
2. Competition: Dispute between people, animals or things that aspire to the same goal or
superiority in something.
3. Characteristics: A characteristic is a quality that allows to identify something or someone,
distinguishing it from its peers.
4. Demand: The notion of demand refers to a request, request, petition or request. The one
who claims asks to be given something.
5. Distribution: Distribution is the action and effect of distributing (dividing something
between several people, giving something the convenient destination, delivering a
merchandise).
6. Expensive: it alludes to the one that costs too much, a lot or that is high, high or of great
price in terms of the economy through inflation. That it can suppose a great dedication,
work or effort.
7. Global marketing: arises when international companies consider the idea of taking
advantage of the opportunities offered by the use of economies of scale when creating
marketing strategies on a global scale. When the marketing activity is focused on a global
level, it segmented the world as if it were a large market, dividing consumers with similar
needs.
8. Goods and services: The goods and services are the result of human efforts to satisfy the
desires and needs of people. Economic production is divided into physical goods and
intangible services.
9. High Price: if the user has good experiences, he will value the product or service by
comparing it with similar ones and will determine its price as a high Price.
10. Life cycle: of the product is the evolution of the sales of an item during the time it remains
in the market. The concept of "life cycle of a product" is a marketing or marketing tool.
11. Market Economies: The market economy is an economic system where the fundamental
decisions of what, how and for whom to produce are solved through the market
12. Marketing strategy: is a type of strategy with which each business unit expects to achieve
its marketing objectives through: 1) The selection of the target market to which it wishes
to reach, 2) the definition of the positioning it will try to achieve in the minds of the target
clients, 3) the choice of the combination or mix of marketing (product, place, price and
promotion) with which it will pretend to satisfy the needs or desires of the target market
and 4) the determination of the levels of marketing expenses.
13. Mass marketing: 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.The idea
is to convey a message that reaches the greatest number of possible people.
14. Nature of the product: It is a set of physical and tangible attributes gathered in an
identifiable way. ... One way to satisfy consumers and obtain a differential advantage is
the design of the product, which refers to the arrangement of the elements that together
constitute a good or service.
15. Offer: is the amount of goods and services that various organizations, institutions, people
or companies are willing to put on sale, that is, in the market, in a specific place (a town, a
region, a continent ...) and at a given Price.
16. Packaging: is the container of a product, designed and produced to protect it and / or
preserve it adequately during transport, storage and delivery to the consumer or end
customer; but also, it is also very useful to promote and differentiate the product or
brand, communicate the information on the label.
17. Price: Amount of money that allows the acquisition or use of a good or service
18. Promotion: refers to the awareness of the customer of a product or brand, generating
sales and creating brand loyalty. It is one of the four basic elements of the marketing mix.
19. Sales increase: The increase in sales is an issue that concerns most employers, guys,
medium, large, all are in need of their organizations reach an optimal level of sales to
survive and then general profits.
20. Supply: It consists of an activity that is developed with the purpose of satisfying the
consumption needs of an economic structure, be it company, family, etc. This supply must
be made in a timely manner.