Live loader and bulk loader are both used for data loading. The major differences between them lie in speed. The bulk loader is fast while the live loader is slow. While a good point for the live loader is that it can be used for running cluster whereas bulk loader can be run on with only
group zero running.
Bulk loader is suggested for the initial import of large data.
You can have a look at some more details about data loading.
I think that would clarify a bit how both are used differently. Kindly note the structure of directory after running bulk loader and how to use it. In case of any doubts, feel free to shoot follow-up questions.