Optimal Channel Structures for Firms with Different Cost Reduction Capabilities

Hwan Chung

Optimal Channel Structures for Firms with Different Cost Reduction Capabilities

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비용절감능력이 상이한 기업들의 유통경로구조 전략

Type: Academic journal

Author: Hwan Chung (중앙대학교)

Journal: KOREA DITRIBUTION ASSOCIATION Journal of channel and retailing Vol.20 No.1 KCI Accredited Journals

Published: 2015.1

Pages: 93 - 123 (31page)

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Optimal Channel Structures for Firms with Different Cost Reduction Capabilities

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2015

Optimal Channel Structures for Firms with Different Cost Reduction Capabilities

Hwan Chung Journal of channel and retailing 2015.01 Academic journal

2014

생산비용절감능력이 상이한 기업들의 유통경로구조 전략

정환 한국유통학회 학술대회 발표논문집 2014.02 Proceeding

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Channel structure decisions (a vertically integrated channel vs. a decentralized channel) are often strategically important for many manufacturers" success in a competitive market. There is a long list of marketing literature on various issues related to the channel structure decisions. For instance, many previous researchers have investigated theoretically the problem of channel coordination for mitigating market inefficiency caused by "double marginalization problem" for the decentralized channel (e.g., Jeuland and Shugan 1983; Ingene and Parry 1995). In contrast, other studies such as McGuire and Staelin(1983) found that the decentralized channel comes to be channel structure equilibrium when manufacturers" products are highly substitutable. Gupta and Loulou(1998) has made useful extensions to the literature by incorporating the manufacturer"s investment decision in process innovation into its channel structure decisions. All these streams of literature examine channel design problems assuming that competing manufacturers have the same cost efficiency. Therefore, despite their important contributions to academia as well as practice, the results of those prior studies cannot provide useful messages for channel structure decisions in the market where less efficient manufacturers compete against highly cost-efficient ones.
In this study we extend the literature by looking into an optimal channel design strategy for competing manufacturers which are asymmetric in terms of their capability to reduce production costs. We assume that one manufacturer is able to reduce a unit production cost more efficiently than the other competing manufacturer. Under the assumption, we find that the changes in channel structure have different effects depending on whether they occur in the more efficient channel or in the less efficient channel. Different from the findings of McGuire and Staelin(1983), our results suggest that, even if the manufacturers" products are not highly substitutable, the less efficient manufacturer finds it more profitable to choose the decentralized channel rather than the integrated channel as the gap between the cost reduction capabilities of two manufacturers become large, whereas the vertically integrated channel is always the better choice for the more efficient one regardless of the gap in their capabilities. Interestingly, this result is obtained when the manufacturer"s decision on the level of the R&D investment determining the size of cost reduction is endogenous. However, we find that when the level of the R&D investment is given exogenously, the results are consistent with the previous studies. That is, even under big cost difference between two manufacturers, both manufacturers always choose the same type of channel structure and, thus, the channel structure equilibrium can be either integration or decentralization in both channels (or both).

#유통채널 #유통경로구조 #비대칭적 비용절감능력 #게임이론 #Distribution Channel #Channel Structure #Asymmetric Cost Reduction Capability #Game Theory

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Ⅱ. 문헌 조사
Ⅲ. 연구 모형
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Ⅴ. 결론
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1. [학술지(정기간행물)] - Cai, Gangshu. / 2012 / Exclusive Channels and Revenue Sharing in a Complementary Goods Market / Marketing Science 31 (1) : 172 ~ 187

2. [학술지(정기간행물)] - Choi, S. Chan. / 2006 / Private label positioning : 　 Quality versus feature differentiation from the national brand / Journal of Retailing 82 (2) : 79 ~ 93

3. [학술지(정기간행물)] - Coughlan, Anne T. / 1989 / On Credible Delegation by Oligopolists : A Discussion of Distribution Channel Management / Management Science 35 (2) : 226 ~ 239

4. [학술지(정기간행물)] - Desai, Preyas. / 2004 / Strategic decentralization and channel coordination / Quantitative Marketing and Economics 2 (1) : 5 ~ 22

5. [학술지(정기간행물)] - Gupta, Sudheer. / 1998 / Process Innovation, Product Differentiation, and Channel Structure : Strategic Incentive in a Duopoly / Marketing Science 17 (4) : 301 ~ 316

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