Abstract：Based on non-equity crowdfunding, this study investigates the optimal pricing and quality decisions when the creator faces on two kinds of comparable potential investors. Combined with the advertising effect triggered by crowdfunding, we study the pricing decision of follow-up sales period and compare the pricing of two periods. When potential investors have different scales, we explore the factors that affect the crowdfunding success rate and follow-up period decisions. The research results are as follows. Based on different product valuations, crowdfunding can be single or double product mode and the follow-up period also has two modes. Under the single product mode, follow-up sales pricing is lower than crowdfunding, and under double products mode, the follow-up sales pricing of low quality product is larger than crowdfunding. The large quality product has same pricing interval under two modes. Through the design of reasonable crowdfunding mechanism, creators can introduce new products successfully, and make good follow-up sales decisions.
