This thesis aims at understanding the M&A process from the beginning of strategy development, target screening, transaction execution, to integration and reorganization. On the buy side perspective knowing that during each process what are the key points and issues that a buyer/acquirer will encounter and fully prepare for it. In order to make a successful deal, a company must have a clear plan to fit its corporate strategy under the help with advisors toward the direction by using M&A as a choice to make expansion. It gives a successful first-timer deal making case study given that the buyer and seller’s company background, the motive behind this merge and the process. In addition to the overview of the case study it also identifies key issues during the transaction execution process. Finally it comes up with a synergy analysis to prove that why this deal is making a success. M&A is a complex topic involving with many business aspects and therefore in order to avoid failing, specific deal breakers should be careful during the process. There is a saying from Sun Tzu “know yourself, know your enemy, and you shall win a hundred battles without loss” and this is the right attitude toward an M&A deal in considering every issues that might have happened.

本研究之目的,旨在探討PDM對台灣3C產業研發管理的影響. 先從台灣3C產業研發管理所涉及之組織環境,核心能耐,及組織與知識創造的關聯性做番檢視, 再將主題PDM對焦在研發管理的創新活動中, 復以流程的構面觀點, 透過個案訪談及實驗分析, 理出PDM對研發管理影響之脈絡如下: 一. PDM導入時,進入障礙傾向來自: (1) 研發人員心理. (2) 既有流程漏洞. (3) 橫向協調不易. 二. 需配合的推動要素傾向: (1) 技術系統客製. (2) 流程改造. 三. PDM對研發管理的直接助益傾向: (1) 團隊協同. (2) 專案導向. (3) BOM管理. (4) 既有資料庫整合綜效. 四. A公司導入PDM後, 組織能耐在 (1) 程序效能 及(2) 研發時程進度掌控上, 皆有可觀的進展. 領悟與啟示-----PDM真正帶給研發管理最大的助益, 在於 : 它會刺激我們省思, 加速改造流程..... / Abstract The purpose of this research is to explore the affections of PDM on the Research & Development management, in the environment of Tai- Wan`s 3C industry. Starting from viewing the environments of innovative organizations, Core competencies, and the relationship between the organization and Knowledge creating. Then, focusing the subject PDM on the innovative Activities of Research & Development management. And in the process Point of view, via interviewing of several parties together with experi- ment analysis, to sum up the veins of the affections of PDM on the Re- search & Development management as following : 1. When introducing the PDM system, the entering obstacles tend to cause from : (1) The psychology of Research & Development peoples. (2) The defects of existing processes. (3) Horizontally coordinating being not easy. 2. The key promotive factors to be operated in coordination tend to be : (1) Technical system customization. (2) Process reconstruction 3. The direct benefits of PDM for Research & Development management tend to be : (1) Teamwork co-ordination. (2) Project oriented. (3) BOM management. (4) The interated synergy of existing data banks. 4. After conduting the PDM system, the competencies of party A in the areas of (1) Process efficiency and (2) Research & Development sche- dule control perform conspicuous improvement. Inspiration ------ The most benefit of PDM truly impacts on Research & Development management is : It will stimulate us to make a self-exa- mination. To speed up to improve our process …….

企業的持續成長是每一家企業所追求的目標之一，也是衡量企業營運績效之重要指標，當一個企業成長趨緩或開始衰退時，往往是企業遭遇困難的警訊。而企業能持續成長端賴競爭力之保有及持續提升，這在企業就必須具有企業競爭優勢策略，因而企業競爭優勢策略是提升企業經營績效的重要課題。 營運成長模式一般可分為內部成長與外部成長。內部成長是指經由公司內部新事業、新產品或新訂單與新客戶的增加使營業額成長；外部成長則是藉由外部策略聯盟、轉投資、購併等手段使公司能取得有利競爭優勢與地位或擴大營業規模。又因為藉由轉投資與購併經常能使企業之規模與競爭力獲得跳躍式成長，如美國通用電氣(General Electric)與思科(Cisco corp.)均為明顯而成功的案例，故在大部分企業經營時，其成為很多企業成長策略的主要選項。 然而，企業在選擇轉投資、策略聯盟或購併行為時，其策略與目標的訂定、購併與被購併企業之定位、整合；購併或轉投資的標的選擇與評估、計畫的規劃與執行等等，均影響外部成長之成敗，導致企業競爭力是否持續增進。 本研究針對垂直市場的產業內聯盟與轉投資為限制範圍，以聚焦於”垂直市場”產業內之轉投資有別於跨產業之投資行為，以”優勢競爭替代”之觀點來探討企業策略定位，以”組織變革”觀點來觀察購併與被購併或投資者與被投資者之定位策略與執行策略，以”累積長期競爭優勢”為標準來衡量與檢驗聯盟或轉投資之效益。 本研究針對研華股份有限公司轉投資艾訊股份有限公司之策略聯盟個案，以探索性研究方法依理論比較實務，研究其在策略聯盟之過程，探討此個案之策略與執行過程，期望能對研華與艾訊公司之策略作一研究與檢討並提出後續改進之建議。 本研究之歸納發現為： 一、 垂直市場競爭者之水平式策略聯盟或購併，如僅由發揮最大生產效率之綜效來考量，不易累積長久之競爭優勢。 二、 在垂直市場產業中，卓越的聯盟或購併之策略運用，在清楚的分析所處市場特性與公司定位以持續維持競爭優勢是策略思考的核心。 三、 破壞性創新思維運用在市場競爭策略上，市場在位者可提升維持性創新競爭力並同時可建立低階策略聯盟以形成阻止其他低階攻擊者障礙，足以保護現有市場在位領先者免於被競爭者侵蝕競爭力。形成結構上的長期競爭優勢。 四、 購併策略之執行，是否應將被併購企業併入，端賴兩方公司之策略定位。依據定位來檢視雙方之資源、流程與價值三個構面，當此三構面在雙方整合對整體策略有助益，則雙方應合併，反之則應維持獨立運作。 五、 雖然處於相同產業，但競爭之主要成功因素將因企業為維持性創新之市場在位者，或是防止低階、低價進攻者之阻攻者角色而有所改變；相對應的組織變革就應提出以確保策略之成功執行。 / The continuous revenue growth is one of the utmost goals that every enterprise seeks. It is also one of the key factors to measure the operation efficiency of an enterprise. It is an alarming signal that the enterprise is encountering serious challenges whenever the sales growth stays slow or encounters a recession. In order to keep the revenue grow consistently, an enterprise needs to sustain its competitiveness and keep its ascendancy as its cutting edge strategy. We can classify the growth engines into two categories: first, the internal growth engine which is contributed by new business, new products, and new orders; second, the external growth engine which is contributed by strategic alliances, M&A, and other investment opportunities. The enterprise usually gets a quantum jump on its business scale when a successful Merger & Acquisition is executed. The General Electric Co. and Cisco Co. cases are good examples of M&A. This probably explains why many companies place M&A and investment opportunity on high priority when setting growth strategies. However, when an enterprise adopts strategic alliance, M&A or diversified investment, its success depends heavily on its abilities of goal setting, positioning, targeting of Alliance Company, doing due-diligence, and solving culture conflict. This thesis investigates the strategic alliances and diversification investment between vertical market players, to focus on monistic industrial investment instead of cross industrial investment; reviews the company positioning strategy from the point of ascendancy competitiveness strategy; studies the execution of organization change between merger and merged companies and verifies the effectiveness of strategic alliances from the viewpoint of accumulated long term competitiveness advantages. The thesis studies from theoretical research to the case study of Advantech Co. which applies the exploratory research method. The Advantech Co. conducted an alliance with Axiomtek Co. in 2002 by stock swap between the two companies. Advantech owns 65% of Axiomtek after the alliance. It is my purpose to assay the process of strategic alliance and try to provide some advices to improve the effectiveness of this strategy. Conclusions can be summarized as follows 1. The strategic alliances or diversification investment between vertical market players can contribute less for cumulating the competitiveness if it is targeted to prevail by maximizing the production efficiency synergy. 2. A superior alliance strategy in vertical market is to analyze the market attributes and anchor the company positioning which helps the competitiveness accumulating for a player. 3. By implementing the disruptive innovation theory in market competition strategy, one company can develop alliance with a lower cost, 2nd tier or less functionality product provider to create the barrier for protecting attack from the disruptive competitors. 4. The resources, process and value are three scopes to judge whether two companies need be combined as one company or not. When those three measurements are formulating more advantages after combining based on mergers decision on companies positioning strategy, then, it should be combined as one company, otherwise vice versa. 5. The key success factors will be reformed accordingly if the acquirer re-positioning the company. A correspondent organization change also is recommended to be implemented.

在經濟全球化、自由化與網路事業發達的趨勢影響之下，近年來金融國際化亦加速發展，各先進國家之銀行產業無不積極擴展海外事業版圖，同時世界各國亦逐步開放其國內金融市場，吸引外國金融機構直接投資，以增加其金融產業競爭力。在因應二十一世紀全球化競爭快速發展之際，歐洲銀行業紛紛藉由國內併購及跨國併購方式以增強其競爭能力。為因應全球金融風暴衝擊或區域性金融風險波及，世界各國金融業者也藉由私募方式趁機在亞洲、拉丁美洲與俄羅斯收購投資標的，藉以低價取得價值被低估資產，擴大其區域營運規模，進而強化客戶網絡關係。 / 本論文研究主題為歐洲銀行業併購後經營績效之探討，採用財務比率、併購動機及經營績效分析其成功的因素。本論文個案研究為英國蘇格蘭皇家銀行(Royal Bank of Scotland)併購國民西敏寺銀行(National Westminster Bank)之案例，此案例為『以小併大』的案例（併購時國民西敏寺銀行約為蘇格蘭皇家銀行的三倍規模大），且創下當時英國銀行史上金額最大的併購案。 本論文案例以併購活動對股價之影響、併購前後三年之財務績效及併購後的營運績效，予以比較分析。本案例研究結果，就國民西敏寺銀行股東而言，雖然蘇格蘭皇家銀行付出併購溢價(PremIum)但因併購綜效的發揮，得以有效增加其股東之財富；蘇格蘭皇也由名不見經傳的小銀行，擠身為英國第二大銀行，並為其後各項鉅額之併購案，建立堅實的基礎與經驗。 / This research investigates the motivations and consequences of a banking merger case - the 1999 merger between Royal Bank of Scotland and National Westminster Bank in the UK, an apparently successful case. Accounting financial ratios and post-merger stock price trends are used to evaluate post-merger performance and we also investigate the sources of synergies by comparing the ratios of pre-merger and post-merger time windows of 3 years. We conclude that the case is successful both in terms of providing a significant bid premium to National Westminster Bank’s shareholders and in terms of the excess returns and improved financial performance of Royal Bank of Scotland /National Westminster Bank over the post-merger period. In addition, the success of this M&A deal can be attributed to Royal Bank of Scotland’ insightful business strategies including focus merger, the strategic goals in line with the takeover motives, accurate estimates of the gains and costs of acquacquisition and, fully exploiting the synergies from the merger, and brand awareness strategy.

台灣雜誌市場在近十年來有愈來愈競爭的現象，雜誌業者在面對未來市場，該如何以最佳型態來滿足讀者的需求，如何更深化市場，持續推動成長，都是雜誌同業必須共同思索的議題。過去不受重視的行銷策略，現在因為雜誌市場的激烈競爭，必須憑藉著優異的行銷組合、傳播工具及資源整合等方式，有效取得市場銷售優勢，才能在市場上取得領先，搶得市佔率。此外，當廣告營收成為雜誌經營最重要的收入來源時，如何提升廣告主的滿意度，與廣告主建立長久穩定的關係，也成為此次研究的關注焦點。 本研究以台灣創刊最早的大八開雜誌《時報周刊》在2007年3月份改版為個案研究對象，以文獻資料分析法、深度訪談法及問卷調查法三種研究方法，從整合行銷傳播的觀點，作為分析媒體行銷的依據，試圖剖析《時報周刊》改版的整合行銷策略形貌及執行狀況。本研究以不同學派的IMC模式為理論基礎作修正，分析整合行銷傳播在《時報周刊》雜誌改版的應用情形；另外，嘗試建構廣告主對綜合性雜誌廣告服務品質的評估準則，並以此對《時報周刊》進行評鑑，藉由此一深入研究，以便有效提升廣告主的滿意度。希望能透過實務上的詳細觀察，多重的研究方法，思考整合行銷策略時的主要問題及成功關鍵因素，以提供雜誌業者的相關研究與實務界參考。 研究結果發現，《時報周刊》的改版，加強了競爭優勢，主要源自於下列因素：1.資料庫行銷的強化應用。2.縝密的行銷策略組合，將雜誌開本改為市場主流規格、降低紙張成本、衍生改版後的創新形象、直接挑戰競爭對手的零售價格、更好的陳列位置、增強新聞議題的操作強度…等。3.多元化傳播工具的創意表現，做到了整合的策略性、一致性與協調性的綜效。4.在綜效評估部分，做到了讀者喜歡、發行數字成長的綜效。而針對廣告主的廣告服務品質的滿意度來看，最為肯定業務人員的專業能力及服務態度，其次，對於新聞內容品質上也有很高的滿意度。最後，從整合行銷傳播的理論架構來看，《時報周刊》這次的改版從資料庫開始所做的讀者分析、確認讀者的需求到發展最適溝通策略，整合對外傳播訊息及各項傳播工具表現一致的溝通訊息（One Voice, One Look），符合本研究所敘述之整合行銷傳播觀念模式。 / During the last decade the magazine market in Taiwan has been getting more and more competitive. When facing the incoming market, the publishers have to think out issues like how to fulfill readers’ requirements with their best arrangement, deepen and stabilize their market share, and promote persisting growth. In the past marketing strategies didn’t get much attention; however, since the fierce competition goes on and on, inevitably only applying excellent marketing strategy mix, communication tools and resource integration will enhance the advantages of market share and keep the leading position. Besides, when advertising revenue becomes the most important one to the magazine profit, in this study we also focus on how to raise advertisers’ satisfaction and build up long-term and loyal relations with them. The subject of this case study in the article is the earliest B4 size magazine, China Times Weekly (CTW), published in Taiwan, which revised in March 2007. On approaching the case, we adopt various methods including data analysis, in-depth interview and questionnaire survey. According to those IMC models from various theories, we apply a fixed IMC model to analyze the implementation within CTW’s revision in order to draw a thorough picture of the integrated marketing strategies as well as to understand how they were delivered in CTW‘s revision. Besides, this paper also aims to set out the model of magazine advertising service quality based on the needs of advertisers, and makes use of this conceptual model to evaluate the performances of CTW’s revision. With deep understanding of advertisers’ evaluation to CTW, it can be figured out efficient ways to raise their satisfaction levels. Through detailed observations on practices and with multiple research methods, we wish to figure out the main issues and key factors to success when thinking of integrated marketing communication strategy and to provide relevant researches on magazine publishers for practicing. The results show that CTW‘s revision did enhance its competitive advantages, which were mainly from the following factors: 1.Enhanced application of database marketing. 2.Detailed and well-knit marketing strategy mix, including downsizing format to the mainstream scale, reducing the cost of paper, creating innovating images, challenging competitors’ retail prices, better display position and enhancing the strength of news topics, etc. 3.Creative performance of multiple communication tools, achieving the synergy of integrated strategies, coherence, and cooperation. 4.On evaluating synergy, readers show their preference to the new version and the publication grows. Besides, as for the advertisers’ satisfaction on the quality of advertising service, the most positive response is the professionalism and service attitude, and next to that is the quality of news content. Finally, viewing through the structure of IMC theory, the revision of CTW, from the reader analysis of database, confirming readers’ requirements and developing optimal communication strategies, integrating outwardly communication and every communication tool to convey coherent information as one-voice, one-look, fits in the ideal model of IMC.

自主管機關許可設立金融控股公司以來，臺灣現今已有十六家金融控股公司；意即十六個金融集團。然國內淺碟式金融市場一直有著金融家數過多且過度競爭的問題存在，不可諱言的是，金融集團之陸續成立，就金融市場秩序之穩定與金融監理面而言，具有一定之正面效益。然此一集團化之營運模式是否為一必然之發展方向，且利多於弊？ 此外，對於跨入多角化經營，從傳統單一金融機構質變為集團化經營之金融控股公司而言，主要之挑戰在於如何共享核心知能與整合集團資源以發揮經營綜效，同時完備治理課題；不同經營特性與多角化經營程度之差異性，也間接影響集團綜效之發揮。 本研究報告從實務個案訪談與文獻研究，以公股與民營金融集團為例，檢視集團化所衍生之預期效益與利弊得失，分析業別與股權組成、經營管理模式、策略形成之過程、利害關係人權益變化、銷售文化及內控治理等面向，探討多角化經營程度對集團獲利之影響程度及其改變因子，並尋找未來成功因素，提供政策與實務面之建議。

1980年代以降，「產業群聚現象」為各國在發展高科技產業的歷程中，極重要的趨勢與特色，美國的矽谷模式可謂其濫觴並成為仿效的成功典範。透過在特定的地理區域中，結合產業界（私人部門）、學術機構、研究機構、中央與地方政府（公共部門），建構有利於高科技產業長期發展與繁榮地區經濟的「科學城」。 　　產業群聚的優勢在於群居成員可分攤基礎建設成本、共享所需的生存資源；更易因地理上的便利性，形成上下游或關聯性產業的合作網路，使產品、技術、資訊與情感的交流更密切，演化為利害與共、共存共榮的「命運共同體」。本研究以產業環境、研究環境與居住環境所組成的共生環境作為形成高科技產業群聚的中心假設，採用組織生態學、資源依賴與合作網路的觀點，以「環境資源共享」與「產業網路互補」為經緯，剖析不同群聚的共生型態與綜效利益，釐清不同的產業特性對群聚利益的呼應，與對整體產業與企業競爭力的影響。 　　本研究發現共生環境資源的多寡，決定高科技產業群聚的形成與長期發展。產業環境的優勢反映在生產效率與利益的增強，研究環境的優勢反映在技術與研發實力的提昇，居住環境的優勢有助吸引高科技人才加入。而高科技產業專業分工明顯、產品生命週期短、時效性要求高的產業特性，使得合作廠商需要頻繁的溝通與協調，而這些工作卻必須透過面對面的互動才能達成，這也是形成高科技產業群聚的主因。 　　產業群聚的利益在於地理上的接近性，使群聚成員共享生存環境資源，便於建構合作網路關係。「環境資源共享之經濟性」與「產業網路合作之互補性」兩構面，決定高科技產業群聚的共生綜效利益。共生綜效利益高低，會決定群聚的長期發展與演化。共生綜效利益越高，則產業群聚會趨於成長、擴張；反之，將逐漸萎縮、解散。而合作機制的建立，是提高群聚共生綜效的關鍵。合作網路體系中的核心廠商，則負有建立合作機制的責任，政府（公共部門）也可主導合作機制的建立。 　　不同的高科技產業特性，搭配「適合的」共生綜效利益，可提高產業與企業的競爭力。環境依賴程度高的產業特性，對環境資源共享之經濟性的需求就會較高；專業分工程度高的產業特性，對產業網路合作之互補性的需求就會較高。

國內大多數之公司皆為中小企業，其相較於大公司資源有限，並無一套有系統的策略形成與管理工具。此工具一直是管理階層重視之議題，然而從過去之文獻發現，策略形成的方法紛呈，最為著名的是Porter(1980)競爭策略，但此類文獻大部分皆為國外學者所著，因而本研究針對國內吳思華(2000)的策略九說，以個案實作之方式，闡明其亦能有效協助公司形成策略。 依據過往文獻發現，策略形成工具協助公司形成策略後，往往就不了了之，並無明確說明如何執行已形成之策略。本研究依據Kaplan and Norton(1992)提出之平衡計分卡概念，以吳安妮(2002)(2003)提出策略執行系統4.7.4為架構與策略診斷性系統分析，協助公司執行已形成之策略及分析公司有無水平或垂直缺口，以免導致公司擁有策略後，卻因執行的後繼無力，而無法展現成效。 最後，以免公司內部單位各自為政，造成資源浪費，因而依據Niven(2002)與吳安妮(2002)提供之觀念，使總公司、SBU與SSU三者之策略能有效連結，形成綜效。 關鍵字：中小企業、策略九說、策略形成與執行系統、策略診斷性分析、綜效。 / Most domestic companies are all small and medium enterprises. The limitations in resources for small and medium enterprises are much greater, causing them to not have a systematic strategy formation and management tools. These management tools have been important management issues, however, the literature only found ways to form strategies, the most famous being the Porter (1980) competitive strategy, but most of these documents were all written by foreign scholars. One famous document written by domestic scholars by Wu Se-hwa (2000) strategy nine, wrote a case by case implementation of management tools can also effectively help companies clarify their strategy. Based on previous literature found about the formation of strategic tools to assist companies to form policy, there is often no clear description of how the strategy has been formed. The study, based on Kaplan and Norton (1992) proposed the concept of the Balanced Scorecard, to Miss Anne (2002) (2003) proposed strategies for the implementation of the system 4.7.4 system architecture and analysis of diagnostic strategies to help companies execute strategy and has formed the analysis of the company to see whether they have horizontal or vertical gaps, so as not to cause the company to have a strategy, with the inability to perform follow-ups, and can not show results. Finally, in order to avoid fragmented units within the company, resulting in waste of resources, which according to Niven (2002) and Anne Wu (2002) provided, thus allowing the head office, SBU and SSU's strategy to effectively link the three to form a synergy. Keywords: SMEs, strategy nine, strategic formulation and implementation, analysis of diagnostic strategies, synergy.

生存、獲利以及成長是企業的目標。第二次世界大戰之後，國際性的商業活動快速的成長，隨著全球商業活動自由化、國際化，加上資訊科技的興起，市場全球化與生產全球化為企業創造了機會，也使得企業面臨的競爭環境日趨嚴峻，企業面臨來自全球的挑戰，威脅其生存與獲利。在競爭環境的迅速變動下，企業為了追求永續經營，不斷的成長成為企業生存之必要條件。購併是企業追求快速成長的捷徑之一。 雖然購併能夠幫助企業迅速取得所需要的關鍵資源，但是從所收集的資料顯示，失敗的購併案例還是佔了七成之多，可見成功的購併是一件相當不容易的事。 本研究所描述的個案企業是目前世界上歷史最悠久的化學與製藥公司，公司成立的日期可以回溯到西元1668年。以購併取得所需要的關鍵資源在該企業是常見的作法，所以該企業透過經驗的累積發展出購併相關活動的標準作業程序（SOP）。但是即使已經有豐富的購併經驗，並不是每一件購併案都能夠達成原先所設定的目標。 本研究希望透過研究實際購併案例的啟動購併動機與後續整合行動以印證相關購併理論，並且整理歸納出成功的購併案例中值得學習的作法以及失敗的購併案例中為何失敗的地方以供未來想要採取購併方式的企業作為參考。 歸納個案企業的購併案例得到以下結論。企業選擇購併作為成長方式的動機是為了達成綜效理論中所提及的啟動綜效、營運綜效和市場綜效。至於後續整合行動，在事前必須要有清楚的整合計畫、工作小組、組織架構與人事布局；然後透過即時且透明的溝通管道傳達給每一位員工；並且強化人力資源管理系統讓不管原本是屬於購併公司的員工還是被購併進來的員工都能夠清楚的瞭解自己在購併後的新組織中可能的職涯發展，協助所有員工穩定下來以渡過整合變動期。 / Survive, gain and grow are the targets for all companies. Business environment has been changed and globalization is the mainstream for all business activities after World War II. This change creates opportunities but also bring threats to companies. Companies now have to face challenges from all over the world. Keep growing is the means for companies to keep survival from these challenges. Merger and acquisition（M&A）is one of the shortcuts for companies to pursue fast growth. M&A can help companies to get key resources quickly. However, the chance to get fail is extremely high up to 70% from collected research data. Apparently it is not easy to have a success M&A case. This paper is describing a more than 300 years old pharmaceutical company whom accumulates a lot of experiences in M&A cases from company history. These M&A cases will be analyzed to prove related theories. Key successful factors will also be concluded for companies who will choose M&A as their growth alternative for reference. To sum up illustrated M&A cases, the motivation of a company to trigger M&A is aiming for starting synergy, operating synergy and market synergy. To ensure post-merger integration can proceed smoothly, it requires clear integration plan which contains dedicated task forces for execution, well-thought-out organization structure and important position appointment. Reinforce personnel system to ensure its function can provide necessary and sufficient assistance to all employees timely. Transparent and open communication channels shall be established in order to eliminate insecure atmosphere.

數位行動浪潮襲捲全球，智慧型手機的普及讓行動行銷成為一股趨勢，如何善用行動媒體的特性來提高整合行銷傳播的綜效亦是近年來數位行銷領域相當關注的話題。APP是行動媒體中最能直接與消費者接觸的工具，而社群APP因為內容具備即時性、社群性等特徵，成為各大品牌搶奪消費者眼球的必爭之地。 　　在眾多社群APP中，Facebook的廣告服務已行之有年，後起之秀Instagram亦於2015年9月對台灣企業開放廣告功能，讓廣告主能以付費的方式觸及更多的使用者。此二平台的廣告運作機制非常相似，消費者都會先接收貼文廣告，再從貼文廣告連接到品牌帳號的主要頁面，兩個品牌訊息加總將有機會產生跨訊息綜效。不過，這兩個平台在內容表現形式上卻不盡相同，且Instagram強大的濾鏡功能能讓照片更具美感，進而影響使用者對品牌的解讀及反應，所呈現的綜效也可能有所不同。 　　因此本研究選定Facebook與Instagram為研究對象，以社群APP平台為自變項，廣告態度及品牌態度為依變項，來驗證跨訊息綜效是否產生，並比較此二平台在廣告資訊處理歷程及效果上的差異。本研究採用實驗法，招募100名政治大學非傳播學院之大學生及研究生進行實驗，所得結果如下： 一、 單一媒體的跨訊息綜效並不顯著，但不同媒體（Facebook與Instagram）的資訊處理歷程、態度形成及跨訊息效果卻不盡相同。 二、 與說服知識相比，美感反應才是影響操弄意圖推論高低的主要變項，接收Facebook廣告的消費者會因為較低美感反應產生較高操弄意圖推論，接收Instagram廣告的消費者則會因為美感反應較高而使操弄意圖推論較低。 三、 操弄意圖推論對訊息涉入度具顯著負向影響，操弄意圖愈高，訊息涉入度愈低，反之亦然。Facebook的操弄意圖推論較高，因此訊息涉入度較低，消費者較缺乏訊息處理動機，而Instagram的操弄意圖推論較低使得訊息涉入度較高，亦即消費者具備較高的訊息處理動機。