Abstract: Under the scenario of a third-party online retailer's coupon promotion, the heterogeneity of consumer channel preferences and price preferences are considered, and a mixed channel supply chain model composed of manufacturers and third-party online retailers constructed. Based on the theory of consumer utility analysis and discussion of market division, and through the establishment of a Stackelberg game model with the manufacturer as the leader, the manufacturer's pricing decisions and the third-party online retailers' promotion decisions are studied. The research results show that when the travel cost is large, the increase in the proportion of online channel preference cannot make the amount of online coupons smaller; the complexity of promotional activities is negatively related to the manufacturer's pricing and negatively related to the amount of coupons.