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Customer interactions with sellers change as social interactions in society change. The old dichotomy between transaction and relation exchange may no longer be valid as customers form relationships with sellers in new ways. It is against this background that the authors study how customers’ subjective perception of relational exchange appears in objectively defined transactional and relational exchange forms. The authors study one bank’s customers, and, based on objective bank records, the authors identify segments that behave as transactional and relational customers. The authors also identify a group of customers who are in between transactional and relational, and the authors call these interimistic relational, since they interact repeatedly with the bank in a short period of time. The paper aims to discuss these issues.

The authors study how subjective attributes of relational exchange differ in objectively defined transactional, interimistic, and relational customer groups. The authors use a large data set, consisting of a combination of survey and objective bank records for 90,528 bank customers.

Findings are that the old dichotomy between transaction and relation is no longer valid, since customers’ exchange behavior and perception of exchange do not match up when it comes to the transaction-relation dichotomy. The authors find empirical evidence for that the subjective relational attributes can be observed in objectively defined relational, interimistic, and transactional customer groups. Overall, subjective relational attributes are strongest in the objective relational group; they are weaker in the interimistic group. Relational attributes are weakest, but still present, in the transactional group.

The findings presented here suggest strong support for relationship marketing practice, since even customers who behave transactionally perceive that they have an element of relationship with the seller. The authors find that customers may behave in a relational, interimistic, and transactional way, but that they perceive themselves as more or less relational. The practical implication is that customer analysis should focus on exchange forms, and that it is essential to analyze how exchange changes, and how multiple exchange forms may be combined in customer behavior and perception.

The social implications of this paper are that marketers should consider the exchange between customer and financial service supplier as more or less of a relationship, and more or less of a service. Financial service firm strategies and regulation of financial services should acknowledge that no financial service transaction is independent of the relationship between the financial service provider and the customer. It may seem so objectively, but subjectively, it is not.

The authors present a unique comparison of objective and subjective customer exchange. There are two contributions that come from this research. The first is that customers perceive themselves as partially relational, even though they behave transactionally. The other contribution is that the authors identified interimistic relational exchange (IRE) as an exchange form in between relational and transactional. IRE can potentially be very important for market research and practice, as it captures modern market behavior. In today’s world, consumers form their perceptions in a multitude of ways, and may therefore have relational attitudes and transactional behaviors. More research is needed into how consumer perceptions and behaviors relate to each other, and how it impacts consumer purchase of financial services.

Emerging biotechnology firms rely on a network of socio‐economic partnerships that can be classified as “interimistic” or close, collaborative but relatively short‐lived. Few studies have assessed the importance of relational governance to the performance of these partnerships. The purposes of this research were to determine the effect of relational governance on the performance of financial partnerships and to compare biotechnology manager assessments of their financial and non‐financial partnerships.

Interviews were conducted with managers of emerging biotechnology companies and lead investors in Canada, France and Germany. Relational governance was assessed by relational norms such as flexibility, information sharing, solidarity and fairness. Performance was assessed by overall effectiveness and partnership benefits. First, the contribution of relational governance to partnership effectiveness and benefits was examined. Second, for the financial partnerships, the perceptions of both biotech managers and lead investors were compared. Third, the biotech manager perceptions of their financial and non‐financial partnerships were compared.

Relational governance is positively associated with performance. Communication (information sharing) was most predictive of partnership performance. Biotech managers view their financial partnerships as being less relational than do their lead investors. Also, biotech managers view their financial partnerships to be less relational than those with their non‐financial partners.

The findings extend our knowledge of the positive influence of relational governance from longer lasting exchanges to “interimistic” technology partnerships. The communication of pertinent and timely information is particularly relevant for both biotech managers and lead investors and can allay fears of opportunistic behaviour and develop trust and commitment.

This paper seeks to apply the relational exchange framework, updated by insights on interimistic relationships, to analyze governance implications for the three types of e‐marketplaces currently in operation: independent exchanges, consortia, and private exchanges. These three archetypes are analyzed from a functional perspective and, more importantly, from a relationship governance perspective.

The paper is conceptual in approach.

The three e‐marketplace archetypes currently in existence correspond to different levels of operational integration and, in turn, to three different types of inter‐firm relationships. Moreover, the three types of relational structures proposed offer different solutions for governance processes such as partner qualification, monitoring, and enforcement.

The network of relationships between firms is changing all the time as a result of dynamic industry conditions. The relational continuum proposed can explain the focal firm's shifting reliance on one or another of the e‐marketplace types as a result of industry volatility.

The analysis advocates a portfolio approach to e‐marketplace adoption, based on the varying strengths of their connections with different industry partners. This approach also implies a new type of segmentation, based on the place that the trading partner occupies on the relational continuum.

When analyzing e‐marketplaces, a focus on technology and functional parameters alone misses an essential aspect: when choosing among various e‐marketplace formats currently in operation, firms cannot overlook the inter‐firm relationships that characterize these marketplaces and give them their identity.

Public procurement activities have long been treated as a minor subset of industrial or business-to-business buying. Consequently, the literature reports sparse research on the nature of government buying or how commercial firms can successfully market to the government. While this lack of research may not have been critical with respect to traditional public buying, recent procurement reforms and new contracting arrangements suggest our knowledge of business-to-business buying is inadequate with respect to the new environment of public buying and government/business relationships. One important and unique issue is how to handle the relationship with business suppliers during the contract implementation process. This paper proposes a taxonomy of government/business relationships as an organizing framework for understanding the complexities of buyer-seller relationships in government contract implementation. Archival case studies provide illustrations and justification for the taxonomy.

The purpose of the paper is twofold: first, it develops a knowledge‐based view of the development of networks in new venture settings and second, it provides a dynamic view of knowledge networks. That is, it aims to pay attention to the development and destruction of networks.

The paper follows a grounded theory approach to develop the model of dynamic knowledge networks. The interviewees came from the following backgrounds: university researchers engaged in entrepreneurial ventures; entrepreneurs that run spin‐off companies; entrepreneurs in a university incubator or science park; incubator managers; university innovation managers; and innovation fund administrators.

The paper finds that the 3C model which is developed from qualitative findings has three core dimensions: knowledge exchange, knowledge structure and network dynamics that stretch across three key new venture phases: conceptualization, commercialization and cultivation. The paper also finds that entrepreneurs build networks because of their particular knowledge needs, once fulfilled these networks are destroyed and new networks are established. The 3C model therefore provides a dynamic perspective on knowledge networks.

The paper shows that a grounded theory approach is limited by it generalisability. The paper has developed a detailed view of knowledge networks in a particular context. Therefore, future research could usefully apply this model to other settings. It would also be useful to conduct further exploratory research into the interimistic nature of knowledge networks.

The paper points to the importance of cross‐boundary knowledge exchange. It needs to look beyond the boundary of a particular unit, such as a firm, to develop the understanding of the dynamics of knowledge management. Second, the context of the knowledge network becomes important managerially. The network has a purpose. It is knowledge‐need driven and this purpose changes remarkably over time. Finally, the creative destruction of knowledge networks needs to be anticipated and managed.

The paper provides a knowledge‐based perspective on entrepreneurial networks. The 3C‐model, which is grounded in reliable data includes several stakeholders in an entrepreneurial network which is in itself valuable and original.

The purpose of this paper is to develop a model of bank advisor/customer relationships and customer saving behavior.

The research is a theoretical review and model development of savings behavior and bank advisor/customer relationships. The review is used for the development of a model of bank advisor/customer relationships, and their effect on savings behavior.

Findings are a model that distinguishes three kinds of exchange (relational, interimistic, and transaction) in between bank advisor and customer. The three kinds of exchange then influence customer savings behavior.

The implications of this research is that it points to that relationship marketing theory can be used in the analysis of how bank advisors influence customer savings behavior.

For regulators and financial services firms, these findings point to how the role of bank advisors for consumer savings behavior can be analyzed. This is important, as much policy work presumes that advisors influence customer savings behavior, but the knowledge base for that presumption needs to be better understood.

The paper contributes toward a better understanding of the social exchange between bank employees and customers as regards savings products.

This paper is original because it includes many theoretical research fields, and because it connects the bank advisor and customer relationship with the customer's savings behavior.

Companies inevitably interact and entrench in complex organic systems of business relationships with other. These business networks are not objectively defined, instead they are shaped by the subjective perception of actors. This inherent subjectivity is associated with the notion of network pictures, that is, a research tool that researchers or managers can use to grasp practitioner theories. In this chapter, we discuss how the importance of identifying these theories results mainly from underlying principles of sense-making theory, as well as from the idea around performativity. Drawing on these theoretical groundings, this chapter has two objectives: to explore how practitioners actually perceive their business surroundings and to assess the extent of overlapping between (IMP Group) academic theories and practitioner theories. To achieve these objectives, the researchers use a dimensional network pictures model previously developed in the literature to analyze the network pictures of 49 top-level managers across 17 companies from two very distinct contexts or networks: a product-based network and a project-based network. Among other practices, findings illustrate how practitioners tend to simplify what is going on in their complex surroundings, to personalize their relationships with those surroundings, and to think in a stereotyped way. Moreover, the juxtaposition between the captured practitioner theories and academic (IMP Group) theories show that these are not always overlapping, and are in some cases quite the opposite. This research contributes to the ongoing discussion of the importance of grasping actors’ views of the world, arguing that sense-making theory and the notion of performativity are the two main conceptual drivers justifying the urgency in making those views more visible. This research also adds to the research on the impact and suitability of IMP Group theories on managerial thinking and practice. Finally, this research reinforces the current call for further practice-based research in business network contexts.

The Legends in Marketing series presents compilations of the seminal works of marketing scholars who have made significant contributions to the discipline of marketing. This review discusses the structure and contents of the volumes that comprise Legends in Marketing: Shelby D. Hunt (Sage, forthcoming).

The purpose of this paper is to determine how three relational attributes – duration, context and trust – are subjectively perceived by bank customers, and how these affect their saving behavior, as defined by monthly flows to mutual funds and the financial products bought and held in stock.

The authors use a combination of unique bank register and subjective survey data, and a structural equation model for theory development. Four constructs are developed to estimate the structural model, i.e. saving behavior, duration, context and trust.

The authors find that all three relational attributes have positive effects on saving behavior. The authors also find that duration and context have the largest total effects, and that trust is a mediating variable channeling indirect effects from context and duration to saving behavior.

One implication for bank managers is that it takes time and understanding of customer context to gain customer trust, but that this increases customer savings. Another implication is that the authors confirm that relational attributes can be studied using subjective measures in surveys, and that these have an effect on objective savings behavior. The findings provide an understanding that could develop both the customer’s value and the banks’ business opportunities.

The impact of relationships between bank advisors and their customers in terms of costs and benefits has been studied, but a little research has focused on the attributes of the relationship and how these affect customers’ saving behavior. The study also uses unique objective bank register data, combined with customers’ subjective perceptions of the relationship.

The purpose of this paper is to empirically examine capability connectivity, relationship alignment and the ability to informally network in the supply chain as determinants for better utilizing capabilities amongst supply chain partners. In particular, the paper focuses on how the above described determinants may impact on operational performance in the supply chain when responding to short‐lived demand requirements or highly dynamic markets.

A mixed research methodology is used, including a qualitative exploratory phase to confirm the relevance of the research question to the practitioner, followed by quantitative structural equation modeling, based on a sample of 231 supply chain professionals.

In total, four determinants of informal networking were derived: capability connectivity, describing the ability of supply chain partners to rapidly and informally integrate capabilities, such as IT, to service an ad hoc market requirement; relationship alignment or the ability to informally integrate resources across supply chain partners in the context of highly dynamic market situations; the informally networked supply chain itself, measuring the ability of supply chain partners to respond to transient opportunities in the context of highly dynamic markets; and finally operational performance which measures the effect informal networking has on company performance. Results show that informal coordination of supply chain activities influences operational performance in different ways, and most significantly impacts positively on operational efficiency through supply‐oriented informal networking. The study identified that industry rules and regulations have a significant impact on the propensity of supply chain partners to collaborate informally. Finally, it is also shown that relationship alignment between companies is an important factor to achieve both market‐ and supply‐oriented informal networking capabilities.

The management of industry rules, regulation, connectivity, and relationship alignment are significant antecedents for informal coordination of supply chain capabilities in business networks. The study shows positive effects of informal networking in supply chains on operational efficiency, and suggests that companies should strive to enable greater flexibility to connect with their trading partners without an abundance of idiosyncrasies. Furthermore, relationship alignment, in combination with process and IT connectivity, is significant in creating the foundation for informal networking in supply chains, in particular for supply‐related activities.

The paper adds a new concept, the informally networked supply chain, and shows that capability connectivity and relationship alignment may enable new alternative ways of coordinating supply chain capabilities to meet a specific market requirement. As such, it offers a new perspective in relation to flexibility and agility in the supply chain.