Peng_Chapter 14 - MANAGEMENT ,develop,anddefend...

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MARKETING AND SUPPLY CHAIN  MANAGEMENT marketing   - the effort to create, develop, and defend  markets that satisfy the needs and wants of  individual and business customers supply chain   - flow of products, services, finances,  and information that passes through a set of entities  from a source to the customer supply chain management   activities to plan,  organize, lead, and control the supply chain
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THREE OF THE FOUR MARKETING  Ps price  -  expenditures that customers are willing to pay  for a product price elasticity  -  how demand changes when  prices  change total cost of ownership  -  direct and indirect  costs related to cost of purchase and also all aspects in  the further use and maintenance of the equipment,  device, or system; a form of full cost accounting
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THREE OF THE FOUR MARKETING  Ps promotion  -  communications that marketers insert 
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