系统管理学报2026，Vol.35Issue(5)：1145-1154,10.DOI:10.3969/j.issn2097-4558.2026.05.001
资金约束下竞争性双寡头零售商的促销策略
Promotional Strategies of Competitive Duopoly Retailers Under Financial Constraints
摘要
Abstract
Promotion is beneficial for enhancing firms'market sales and competitive advantage.Analyzing the equilibrium strategy under promotional and financing constraints is of significant theoretical and practical importance.This paper constructs a supply chain consisting of a manufacturer,a capital-constrained retailer,and a well-capitalized retailer.It investigates wholesale pricing,order quantity,and promotional decisions to determine the optimal promotional strategy.It also examines the combined effects of capital constraints and retailer competition on the decision-making processes of each stakeholder.The results indicate that a moderate reduction in wholesale prices can incentivize retailers to increase their promotional investments,thereby expanding market demand and increasing order quantities.However,when the sensitivity coefficient of promotional investment is high,capital-constrained retailers are more prone to cash flow shortages and reliance on bank loans.Nevertheless,a reduction in bank loan interest rates does not necessarily alleviate bankruptcy risk,as higher order quantities may increase financing risk.By strategically allocating promotional capital,capital-constrained retailers can enhance market demand while mitigating bankruptcy risk.Meanwhile,well-capitalized retailers must also consider the financial constraints faced by their competitors.Finally,although promotional investment can expand market demand,neither retailer has an incentive to invest in promotion when the capital-constrained retailer considers the potential customer demand of its competitor.关键词
促销策略/寡头博弈/资金约束/银行融资Key words
promotion strategies/duopoly game/capital constraint/bank financing分类
管理科学引用本文复制引用
骆一品,王海军,徐晓东..资金约束下竞争性双寡头零售商的促销策略[J].系统管理学报,2026,35(5):1145-1154,10.基金项目
国家自然科学基金资助项目(72372103) （72372103）
