Partnering relationships between banks and their research firms: the impact on quality

Reports how, in an effort to improve research quality, save time and decrease total costs, many businesses have been turning from discrete, arm’s‐length, transactional relationships with a multitude of research suppliers towards long‐term, collaborative relationships with just a few research “partners”. Some bank clients believe in the benefits of partnering with one or two marketing research suppliers. Other bank clients are concerned that partnering with researchers will breed complacency, thus increasing research costs and decreasing quality. Attempts to examine the impact of partnering and non‐partnering relationships on the research firms’ performance in three areas: service quality, product quality and overall customer satisfaction. Empirical evidence indicates a positive relationship between partnering and increased client satisfaction in all three areas.