Abstract:

With the development of internet technology， the online direct selling mode is rapidly emerging. However， the direct selling mode by the manufacturer suffer from product untouchability， which will directly affect consumers’ perceived value of the product. As a new online sales mode， live streaming can improve consumers’ perceived value by increasing the touchability of the product， and the price discount during live streaming can also improve consumers' willingness to buy. However， it takes time for consumers to watch the live streaming， which brings hassle cost. Therefore， whether manufacturers introduce live streaming and what pricing strategy to adopt after introduction live streaming are urgent issues to be studied.In order to solve this question， two models of whether the manufacturer introduces a live streaming sales mode are considered. Consumers in the market are divided into live streaming time consumers and non-live streaming time consumers. Considering the consumer’s perceived value of the product and the hassle cost， the consumer’s utility function is constructed， and the manufacturer simultaneously decides the prices of the live streaming product and the direct selling product to maximize its profit. Then the KKT condition is used to solve for the manufacturer's equilibrium pricing and profit to determine the manufacturer's live streaming introduction strategy.The results show that the decision of manufacturers live streaming introduction is related to the average perceived value of products and the change range of perceived value. The higher the hassle cost for consumers to watch live streaming， the lower the demand for live streaming， and the manufacturers raise the direct selling price to obtain more revenue. The profits of manufacturers and demand for direct selling first decrease and then increase with the increase of consumers' hassle cost of watching live streaming. Moreover， with the increase of the perceived value of live streaming for the product， manufacturers increase the sales price of live streaming and reduce the direct selling price to expand the total demand of products. The manufacturer's profit first decreases and then increases with the increase in the perceived value of live streaming for the product. The introduction of live streaming changes the mode of single-channel direct selling and increases the difficulty of manufacturers' decision-making. The research has certain guiding significance for live streaming introduction and pricing strategy of manufacturers in the market.

Key words: live streaming, live streaming introducing strategy, pricing strategy