1. As a supplier, which factors about a buyer (your potential customer) would you consider to be important in setting up a long-term relationship? 2. Describe how outsourcing works. Why would a firm...

to be important in setting up a long-term relationship? 2. Describe how outsourcing works. Why would a firm want to outsource? 3. Have you ever purchased a product based on purchase price alone and were surprised by the eventual total cost of ownership (TCO), either in money or in time? Describe the situation.