Research On Consumer Choice Of The Annual Membership Model

The annual membership model is a marketing method introduced by businesses to maintain long-term customer relationship and quickly collect funds.Consumers can get the right to in a period of time by paying a lower fee.Although the total price of annual card mode is high,it can be consumed many times in a specified period,so that consumers can get a low average price discount.The annual membership model is favored by consumers because of its low price and convenience.Various businesses launch the marketing activities similarly,we can see this marketing method at gym,takeout restaurant,bike-sharing company,the airlines and so on.However,there is still a lack of theoretical research on the annual membership mode,such as the mechanism of the annual membership mode and its impact on consumers’ psychology.Therefore,it is unable to effectively guide businesses to design annual membership cards to meet the real needs of consumers.In this paper,we describe the definition of the annual membership firstly,then give some examples of the annual membership mode from the perspective of industry application.And then we use the theory of consumer behavior to explain about the rationality and effectiveness of the annual membership model.Secondly,based on the theory of planned behavior,we built a research model of the influencing factors of consumers’ annual membership card purchase intention.And added two factors of perceived risk and product knowledge to the model to better fit the characteristics of the annual membership model.Then,from the perspective of business,this study explores the design of the attributes of annual membership products,and uses the joint analysis method to explore consumers’ views on the price,time,convenience and other conditions of annual card products,so as to lay the foundation for the empirical analysis.In this paper,the product of “Wild Your Time” is chosen as the representative of annual membership products,mainly because of its distinctive characteristics of annual membership mode,and in the case of the Covid-19 is not over,consumers’ purchase decision-making behavior will be greatly affected by perceived risk and product knowledge factors.Therefore,in the empirical part of this paper,taking the product of“Wild Your Time” as an example,we conducted a questionnaire survey to study the influencing factors of consumers’ purchase of the product of “Wild Your Time” and their choice preferences.Firstly,this paper verified and analyzed the research hypotheses.The research results show that consumers’ personal attitude,subjective norms and perceived behavior control are important factors affecting consumers’ intention to buy annual membership product,and consumers’ perceived risk degree will affect their intention to buy it.Then this research summed up the product preference characteristics of different consumers,which can be divided into three types: price sensitive group,time sensitive group and convenience sensitive group.Finally,this research summarized and analyzed the characteristics of various groups,so as to provide guidance for businessmen to improve the product design of annual membership card and increase revenue.