Studies Of Manufacturers' Principal-Agent To Dealers Based On Customer Values

With the rapid development of global economy and deepening degree of liberalization, manufactures not only hold god-given development opportunity, but also bear increasing competitive pressure while facing global trading market. As an important part of product marketing, dealers closely touch with manufactures and are one of the most important partners. Currently, an important aspect of manufactures' competitive power is the effective cooperation with dealers which plays a key role in operation of business. However, since the manufactures only pay attention to present value brought by dealers and ignore their potential value in the principal-agent, they never effectively inspire dealers to work hard. Furthermore, information asymmetry in agency relation accelerates moral risk which leads to low efficiency in cooperation and hurts mutual interest. This thesis makes research based on the above.Based on a large quantity of literature materials, this thesis firstly makes comment on principal-agent and customer value, describes inner meaning and present research of principal-agent and discusses various problems happened in the situation of information symmetry or asymmetry. Then, according to the thought of principal-agent, the author indicate that the traditional principal-agent incentive model only considers profit brought by present value and ignores profit brought by potential value. In addition, according to the present study on measurement and prediction of customer value, the author calculates the present value and potential value of dealers. Based on its features, the author also introduces the contribution of potential value to principal-agent and organically puts present value and potential value of dealers to build a new principal-agent incentive model. Finally, from the analysis of result in new model and illustration of cases, we can clearly know that effectively combinations of reward for dealers present and potential value is a good way to inspire dealers to work hard and improve the cooperative efficiency to reach mutual benefits and promote development.