Evidencia “Taller de comprensión de lectura”.

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. 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.

Market research findings are important in developing the overall marketing mix for
a given product. By identifying specific customer needs a business can adjust the
features, appearance, price and distribution method for a target market segment

3. Write F for false or T for true

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 one's business processes and performance

metrics to industry bests and best practices from other companies. In project
management benchmarking can also support the selection, planning and
delivery of projects. Also dimensions typically measured are quality, time and
cost. In the process of best practice benchmarking, management identifies the
best firms in their industry, or in another industry where similar processes exist,
and compares the results and processes of those studied (the "targets") to
one's own results and processes. In this way, they learn how well the targets
perform and, more importantly, the business processes that explain why these
firms are successful. According to National Council on Measurement in
Education, benchmark assessments

b. What is the process of Benchmarking?

There is no single benchmarking process that has been universally adopted. The
wide appeal and acceptance of benchmarking has led to the emergence of
benchmarking methodologies. One seminal book is Boxwell's Benchmarking 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-
stage approach to benchmarking. The 12 stage methodology consists of:

 Select subject
 Define the process
 Identify potential partners
 Identify data sources
 Collect data and select partners
 Determine the gap
 Establish process differences
 Target future performance
 Communicate
 Adjust goal
 Implement
 Review and recalibrate

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

Quality:It refers to the level of value created for the products for the client over the
cost of producing quality systems design that ensure that the quality can be added
or meet the predetermined standards.

In addition, it refers to organizational development on the basis that we focus so

much on what we do, on the development of human resources, on commitment
and involvement, as well as on training.

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

Time: Faster flows in administration, sales, production and distribution have

received greater attention as a potential factor for improving 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.