A Membership Model is a business strategy where customers pay a recurring fee to access products or services. This model is commonly used by companies like Netflix and Amazon Prime, offering exclusive content or benefits to their members. The fee can be charged monthly, annually, or at other intervals, providing a steady revenue stream for the business. This approach fosters customer loyalty, as members often feel a sense of belonging and value from their subscriptions. Additionally, businesses can use data from their members to tailor offerings and improve services, enhancing the overall customer experience and encouraging long-term engagement.