Sell through a local retailer or operate your own store? Channel structure and risk analysis
Sell through a local retailer or operate your own store? Channel structure and risk analysis
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DOI：
10.1057/jors.2015.39
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发表时间：
2016-02
影响因子：
3.6
通讯作者：
Baozhuang Niu;Liming Liu;Jun Wang
中科院分区：
文献类型：
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作者：
Baozhuang Niu;Liming Liu;Jun Wang
公司商店或当地零售商都可以用来建立销售渠道。对于具有现有竞争品牌的高价值产品，这一选择代表了品牌制造商必须为新市场做出的关键决定。在高运营成本的负担下，一个实力较弱的本地零售商可能会发现难以维持，使用它可能会损害制造商成功建立渠道的机会。我们考虑了一个由两个制造商和两个零售商组成的连锁竞争模型，其中一个零售商可能因为高昂的融资成本而无法继续经营。我们确定了一个门槛政策，供制造商选择渠道结构。有趣的是，我们发现渠道整合并不总是更好。在不考虑合同终止风险的情况下，当制造商的机会成本较低或零售商的融资成本足够高时，制造商将承担运营费用。在均衡中，制造商将选择(分散的、分散的)或(整合的、整合的)渠道结构。然而，当考虑终止风险时，均衡渠道结构更有可能是(整合、整合)或(整合、分散)。
Either a company store or a local retailer can be used to establish a sales channel. For high-value products with an existing competing brand, this choice represents a crucial decision a brand-named manufacturer must make for a new market. Under the burden of high operating costs, a weak local retailer may find it difficult to sustain and using it may hurt the manufacturer’s chance to successfully establish the channel. We consider a chain-to-chain competition model comprising two manufacturers and two retailers, in which one retailer may be unable to continue its operation because of high financing costs. We identify a threshold policy for the manufacturers to select the channel structure. Interestingly, we find that channel integration is not always better. Without the consideration of contract termination risk, the manufacturer will bear the operating expenses when its opportunity cost is low or the retailer’s financing cost is sufficiently high. In equilibrium, the manufacturers will choose either (decentralized, decentralized) or (integrated, integrated) channel structure. However, when the termination risk is considered, the equilibrium channel structure would be more likely (integrated, integrated) or (integrated, decentralized).