The carbon cap and trade mechanism is an important policy for reducing carbon emissions. This paper investigates the selection of carbon emission reduction and promotional strategies in the production and sales processes of home appliances under the carbon cap and trade mechanism. First, we find that cooperative emission reduction and promotional decisions enhance the operational performance of home appliance enterprises. Cooperative emission reduction benefits the profits of home appliance manufacturers, and cooperative promotions benefit the profits of home appliance dealers. Second, regardless of how carbon emission reduction costs vary, the level of carbon emission reduction positively correlates with consumer low-carbon preferences and carbon trading prices. Conversely, under different investments in carbon emission reduction costs, significant differences arise in the pricing of home appliances, the level of marketing efforts, and market demand volumes. Finally, compared to price, current consumers are more concerned about home appliances’ carbon emission reduction levels. At the same time, home appliance manufacturers must make reasonable investments in carbon emission reduction and effectively respond to the impact of changes in carbon trading prices.