Customer-specific synergies and market convergence

被引:47
作者
Schmidt, Jens [1 ]
Makadok, Richard [2 ]
Keil, Thomas [3 ]
机构
[1] Aalto Univ, Dept Ind Engn & Management, Espoo, Finland
[2] Purdue Univ, Krannert Sch Management, W Lafayette, IN 47907 USA
[3] Univ Zurich, Dept Business Adm, Zurich, Switzerland
关键词
customer-specific synergies; competitive advantage; bundling strategy; market convergence; demand-based theory; RESOURCE-BASED VIEW; COMPETITIVE ADVANTAGE; VALUE CREATION; FIRM; PERFORMANCE; DIVERSIFICATION; PERSPECTIVE; ECONOMIES; SCOPE; COMPATIBILITY;
D O I
10.1002/smj.2372
中图分类号
F [经济];
学科分类号
02 ;
摘要
We use an analytical model to study the effects of customer-specific synergies, i.e., synergies that arise when firms sell multiple products to the same customers. At the firm level, we show that the profitability of a customer-specific synergy depends upon cross-market correlation of customer preferences, differs when the synergy is cost-based versus differentiation-based, and can even be negative when the synergy is kept proprietary to a single firm. We also show that returns to imitating such a synergy may decline as it strengthens. At the industry level, we find that exploiting customer-specific synergies causes endogenous market convergence at a point that depends upon whether the synergy is cost-based or differentiation-based and whether it is imitated. Copyright (c) 2015 John Wiley & Sons, Ltd.
引用
收藏
页码:870 / 895
页数:26
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