Do you reckon how many situations you “choose” to accept
a subscription? Your yearly membership in ACS– subscription
[how many years have you been a member?] , Marriott hotel
chain ‘elite’ member, Netflix subscription, Amazon ‘prime’,
New York Times online subscription, journal subscriptions
(both personal and institution). Business has adopted the
model that individuals do not ‘own’ things, memberships,
and even personal items. It is evolving to ‘things-as-a service.’
and others have indicated a change to the time
covered the subscription model in some detail showing
how they use AI and collect and parse your personal data for
increased sales without human interaction.
Marketing is different for ownership and subscription models.
Ownership is driven by getting you interested in one time
purchase. Whereas subscription marketing has
-streamlined purchasing, with the company knowing
everything about you
-advertised easier returns and breaking off subscription,
if satisfaction is not met
-with the aim to keep you as a subscriber, there a regular
upgrades and improvements, new content and features
-many subscription services allow you to pick specific
items for your needs and wants.
Know that the chemical enterprise is already deeply
involved in the subscription model. R&D is likely to
be headed there.