Abstract: More and more consumer finance enterprises focus on segmentation of consumption scenarios. This paper explores the relationship between two groups in consumer finance market from the perspective of dynamic game, that is, the provider of consumer financial installment products (CFIP) provides services and users can select the CFIP service automatically. Studies have shown that under certain conditions of infinite repeat games, there is a specific subgame perfect Nash equilibrium. The subgame of the finite-time repeat game is a perfect Nash equilibrium, which enables the same service portfolio for each of the CFIP at each stage, so that the CFIP can develop a grid-based service portfolio for different groups of users. In an ideal world, the CFIP can obtain a larger market share and benefit when it introduces a variety of differentiated, grid-based service combinations. Based on survey data, the simulation verifies the price monopoly status of the CFIP in the monopolistic market and the dynamic game process of various CFIP in the oligopoly market, and provides the method to develop service portfolio according to the characteristics of user groups. The management and marketing suggestions are given, which has a referential significance for CFIP to enhance corporate competitiveness and obtain stable growth returns.

Key words: consumer finance, installment products, dynamic game, service portfolio, oligopoly market

摘要： 越来越多的消费金融公司聚焦于细分消费场景。本文从动态博弈视角对消费金融市场中两类主体的供需关系进行探究,即消费金融服务提供商(CFIP)提供金融产品,而客户可自行选择消费金融产品。研究揭示,在一定前提下,消金市场CFIP间无限次重复博弈,会存在一个特定的子对策完美Nash均衡;而实践中消金市场中存在有限次重复博弈的子对策完美Nash均衡,使每一博弈阶段全部CFIP都调整到同一产品策略,从而CFIP为不同的消费金融客户提供网格化的产品;理想情况下CFIP提供多种差异化、网格化产品时,能够得到更大的市场份额和收益。独占CFIP的价格垄断地位,和寡头条件下CFIP间动态博弈过程,依据调研数据得以仿真验证,提出需依据消费金融客户需求偏好提供产品组合的方法。并为消费金融企业提出营销及管理建议,对提升企业竞争力及其获得稳定增长收益具有借鉴意义。

关键词: 消费金融, 分期产品, 动态博弈, 服务组合, 寡头垄断市场