本研究主要目的是結合零售市場自我品牌發展與製造商代工利潤議題，討論零售市場零售商以委託製造商代工生產方式發展自我品牌產品時，製造商代工毛利率對零售市場廠商利潤的影響。本研究以三人二期不合作賽局，探討在製造商領導下，製造商代工生產零售商自我品牌時，不同的毛利率對廠商利潤的影響。考慮一個存在二製造商與零售商的零售市場，第一期製造商決定經銷通路的產品批發價格；第二期進行產品間的零售利差競爭。銷售通路產品需求受產品差異化程度所影響，為具垂直策略替代性的線性需求。研究發現製造商受委託製造零售商自我品牌時，當製造商OEM毛利率愈高，製造商的利潤愈隨製造成本上升產生的損失愈大，但零售商的利潤因有利差保證所以恆大於零。

This paper discusses the affection of ratio of margin in the retail market when the retailer's private brand products made by OEM. We design a two-stage three-person non-cooperative game under manufacturer Stackelberg to model two manufacturers' and one common retailer's channel arrangement for product distribution. All manufacturers and the retailer compete in margins. Then, the two manufacturers compete in wholesale price for dealing channel's goods. Goods are assumed to have linear demands with vertical strategic substitutability which consider the effects of product differentiation. Our results show that the higher the ratio of margin is, the more manufacturers will lose as cost increases, meanwhile the retailer's profit will always keep positive.