臺大管理論叢 NTU Management Review VOL.29 NO.3

1 DOI:10.6226/NTUMR.201912_29(3).0001 廣告媒體與消費者資訊結構對製造商均衡價格及廣告策略 之影響 Effects of Advertising Media and Consumers’ Information Structure on Manufacturers’ Equilibrium Pricing and Advertising Strategies Abstract This paper intends to investigate how consumers’ information structure and the nature of advertising media may affect an existing manufacturer and a potential entrant’s incentives to perform informative advertising, and how these advertising decisions may affect these manufacturers’ subsequent pricing behavior and thus the potential entrant’s entry decision. With the assumption that consumer gross valuations are high, we obtained the following results. Firstly, except in the case where the incumbent manufacturer is endowed with a very large loyal base, the incumbent’s informative advertising through mass media helps deter entry. Secondly, in a case where informative advertising fails to deter entry and that neither firm has a dominant loyal base, then the post-entry price competition crucially depends on the nature of the advertising medium used by the two firms. If they use a similar mass medium with high reach rate, then the informative advertising performed by the incumbent will intensify their price competition. Thirdly, when both firms use similar mass media to perform informative advertising, it is unlikely that the incumbent manufacturer conducts informative advertising in equilibrium. Finally, when the incumbent can use an efficient targeted medium, the incumbentʼs informative advertising tends to benefit both manufacturers. 【 Keywords 】 informative advertising, information asymmetry, pricing strategies, game- theoretical model, entry deterrence Chyi-Mei Chen , Department of Finance, National Taiwan University 陳其美 / 國立臺灣大學財務金融學系 Shan-Yu Chou , Department of Business Administration, National Taiwan University 周善瑜 / 國立臺灣大學工商管理學系 Shih-Tsung Huang , Department of Business Administration, National Taiwan University 黃仕宗 / 國立臺灣大學商學研究所 Huei-Wen Zeng , Department of Business Administration, National Taiwan University 曾慧玟 / 國立臺灣大學商學研究所 Received 2016/7, Final revision received 2017/4 NTU Management Review Vol. 29 No. 3 Dec. 2019, 1-38