Evidencia

“Taller de comprensión de lectura”.

Descripción 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. 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 findings of market research are important to develop the general marketing mix for a given
product. By identifying the specific needs of customers, a company can adjust the characteristics,
appearance, price and distribution method for a target market segment.

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 (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 (X) V ( )
4. Answer the following questions

a. What is Benchmarking?

Benchmarking is comparing of business processes and performance metrics with the best and best
practices of other companies' industry. In project management, benchmarking can also support the
selection, planning and delivery of projects. Also the typically measured dimensions are quality, time
and cost. In the process of comparative evaluation of best practices, management identifies the best
companies in its industry, or in another industry where similar processes exist, and compares the
results and processes of the studied ones (the "objectives") with the results and own processes. In
this way, they learn how well the objectives perform and, more importantly, the business processes
that explain why these companies are successful. According to the National Board of Measurement
in Education, benchmark assessments

b. What is the process of Benchmarking?

There is no single benchmarking process that has been universally adopted. The broad appeal and
acceptance of benchmarking have led to the emergence of benchmarking methodologies. A seminal
book is Benchmarking by Boxwell for competitive advantage

The first book on benchmarking, written and published by Kaiser Associates, is a practical guide and
offers a seven-step approach. Robert Camp developed a 12-step approach to benchmarking. The
12-step methodology consists of:

Select theme

Define the process

Identify potential partners

Identify data sources

Collect data and select partners

Determine the gap

Establish process differences

Future performance goal

Communicate

Adjust the goal

Implement

Review and recalibrate

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

Quality: refers to the level of value created for the products for the client on the cost of producing
a quality systems design that guarantees that the quality can be added or that it complies with the
predetermined standards.

In addition, it refers to organizational development on the basis that we focus on both what we do,
the development of human resources, commitment and participation, as well as training.

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

Time: The fastest flows in administration, sales, production and distribution have received greater
attention as a potential factor to improve productivity and competition.

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.

Advertising: Dissemination or dissemination of information, ideas or opinions of a political,

religious, commercial, etc., with the intention that someone acts in a certain way, think according
to ideas or not be a specific product.

Application: In computer science, an application in a computer program designed as a tool to allow

a user to perform one or several types of tasks.

Brand: is a primary trademark and the set of identifiers with which it relates and offers a product or
service in the market.

Business: Occupation, activity or work that is done to obtain a profit, especially the one that consists
in carrying out commercial operations, buying and selling products or services.

Client: is the person or company receiving a good, service, product or idea, a change of money or
other item of value.

Company: Entity in which capital and labor are involved as factors of production of industrial or
commercial activities or for the provision of services.

Demand: total amount of goods and services that can be acquired at different market prices per
consumer or more.

Goods: material or immaterial things that, from a legal point of view, are objects of law, in the same
way that, from an economic perspective, they are limited and, consequently, have a value that can
be defined in the monetary terms.

Market: Theoretical place where the supply and demand of products and services are located and
the prices are determined.

Marketing: is the social and administrative process for which groups and individuals meet their
needs when creating and exchanging goods and services
Packaging: material that encloses an article with or without packaging, in order to preserve it and
facilitate its delivery to the consumer.

Price: Amount of money that allows the acquisition or use of a good or service.

Product: 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: Advertising campaign that is made of a specific product or service for a limited time
through an attractive offer.

Research: Research is an activity aimed at obtaining new knowledge and its application for solving
problems or questions

Rivalry: market structure in which there are enough bidders and claimants not to influence the
price.

Sales: it is a consensual, bilateral, onerous and typical contract in which anything of the parties
(seller) is obliged to give something in favor of the other (buyer) a change of a price in money.

Service: A service in a set of activities that seek to satisfy the needs of a client.

Supply: quantity of goods or services that producers are willing to sell to consumers under market
conditions.

Technology: A set of instruments, technical resources or procedures used in a specific field or sector.

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

The supply and demand model is used to analyze markets competitive where there are many buyers
and many sellers in where none of them has influence on the price.

The law of supply and demand reflects the relationship between the demand that exists for a good
in the market and the quantity thereof that is offered based on the price that is established.

It must be considered that the market is of free competition, there are negotiations between the
bidders and the plaintiffs and free merchandise traffic is allowed.

The theory says that speaking within a market of perfect competition, the price of a good will be
placed at a "point of equilibrium" where demand equals supply.

That point of equilibrium is the price at which consumers are willing to buy the good.