Research Report
Marketing report Virgin Galactic (PRICE)
Content
1. Introduction 3 2. Review Research questions John Doe 4 3. Analysis 8 4. Conclusion 11 5. Recommendations 12 6. Appendix 13 Introduction
This report, composed on request of the management of Virgin Galactic, deals with the price aspects regarding space flights, particularly those offered by Virgin Galactic.
The main definition of the problem therefore is: “What factors affect the costumer’s willingness to pay?”
This report has been written for the management of Virgin Galactic and any and all individuals with the right to access this report. By reading this report, they can get an insight in which factor significantly
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Ha: There is a relationship between the nationality of our customers and the willingness to buy tickets for a space trip?
Test: ANOVA
Relevant QQ: 9 & 2
The 5th research question made by John Doe is;
RQ5: Does the profession of our customers influence the willingness to buy tickets for a space trip?
This is a sound research question. The only problem here is the data as there is significant overlap between the possible answers. For example a student could select multiple options since he can be a student, a temporary employee and even self-employed. Taking into account that there is no way to figure out which group someone would have selected, when there were several possibilities, it is impossible to regroup the data. Additionally the data (the possible responses to the questionnaire question) does not give a clear overview of the different professions or branches in the industry. Therefore the choice is made to not use any of the data for profession and to eliminate this research question.
The 6th research question made by John Doe is;
RQ6: Does the economic situation impact the decision to purchase tickets for a space trip?
This is a sound research question. This would imply the following hypotheses and test:
Ho: The economic situation does not impact the decision to purchase tickets for a space trip.
Ha: The economic situation impacts the decision to purchase tickets for a
As humans, we are born with a natural desire to learn and discover. With space exploration, we are able to do just that. In an online essay called “Is Space Exploration Worth the Cost”, Dr. Joan Vernikos,
For the social science lens, we will be looking at the shift in the economics for space exploration in the recent years.
Americans love the idea of space and staring up at the stars. They are driven to explore and discover what man does not know, and the spirit of exploration inspires society to create and invest towards the possibility of changing the world. Nevertheless, Americans dislike paying higher taxes to fund these programs. Therefore, it makes sense to figure out new ways to expand the way NASA is funded. The
While many people support funding NASA and agree with the organization’s goals, there a good number of people who do not. A common reason for this is that they believe that the space program should focus on discovering things that can benefit us immediately, not in the future. This is a valid argument because there
The National Aeronautics and Space Administration (NASA) is one of the leading organizations in space technology and research. In the past 60 years, NASA has sent numerous satellites, telescopes and crew modules into space. Despite drawbacks in launch failures and lack of funding, NASA continues to focus on its mission in space exploration and technological advancement. One of NASA’s projects is to explore deep space, in which entails a manned missions to Mars, exploration of the asteroid belt, and beyond. With these goals in mind, NASA has engineered new rocketry and even created a program to better allocate costs of such conquests. With these new advancements, NASA has created a new age of how space travel is carried out.
Neil Armstrong 's 1969 lunar landing was one of humanity 's greatest accomplishments. Since then, we have found that an infinite supply of knowledge and resources await us just outside our atmosphere. Today, however, critics are beginning to argue more and more that the cost of space exploration is too high, and therefore new technological developments should be left to the private sector. Whether funded privately or by the government, funding of space exploration is imperative because NASA is essentially the only agency with the technological capabilities to support aircraft manufacturing, air safety and air transportation. Space exploration has also resulted in remarkable innovations that has played a key role in aeronautics research, preventative medicine, and allows scientists to study asteroids, along with other space debris and their impacts on Earth.
Along with the technological advances and new theories of the last century, humans have developed a need to explore beyond the known of the final frontier. This resource of knowledge has led to superstitions and concerns about what could happen if people pursue this want of space exploration. Among these concerns are national finances, the world’s health, and ethical standpoints of what really could be waiting on the other side for those who dare venture into the unknown.
The concept of space exploration was first introduced to the American public in 1961 when President John F. Kennedy famously stood before congress and vowed that America would put a man on the moon “within the decade.” With hopes of defeating the Soviet Union in the “Space Race” and gaining a leg-up in the Cold War, NASA funding reached its all-time high in 1965-1966 when about four percent of the federal budget was devoted to exploring space. Since then however, funding dedicated to exploring space has nose-dived to about one-half of a percent of the federal budget (Tyson), with plans to cut that figure by an additional $260 million in 2017 (cite NASA funding cuts). Experts in the space-sciences field argue that increased funding in space exploration would re-ignite the American economy and return America to the scientific prominence it was once known for, while, on the other end of the spectrum, naysayers suggest that exploring space is an economic sink-hole that the United States can no longer afford to deposit to given its own earth-bound troubles.
Companies that work with in manufacturing, travel, marketing, insurance, law, and finance would have to get involved, said in paragraph 5 of “Civilians in Space”. What if you got stuck in space? Who would come to rescue you? What if you got sick or injured, and there is no doctor in the rocket or space motel? I don't know about you, but those things scare
Three main clusters that are developed under this idea of space exploration is the benefits that are gained, ethical code and what it means with regard to the future of the human race. In this paper I will talk about what major projects are being worked on and who will benefit from these. This will also include what laws of space are and ethical code. This will also identify the differing viewpoints on space exploration and whether the big picture is worth the small steps being taken as to advancements in space technology and sciences.
Money can never guarantee one's safety. Sometimes the cheapest of things can be the safest. In this article titled “Revolutionaries unbound: the greatest challenge is to go faster, higher and cheaper than ever before”, about the famous “Space Race”, it tells of how the race was suppose to be the cheapest and the fastest space flight in all of history. The authors purpose was to provide facts about how much money NASA is willing to spend on flights and what they can do to make it cheaper. Within this article, the author does a poor job at explaining their thoughts and connecting to the reader about cheaper and faster space flights.
Instead of moving forward with technology we are using technology that has been present but just redesigning and improving it. My intention here is that with private companies trying to find methods of making their own advance method of exploring space, it is evident that they plan to charge people to take them on these space travels. For example, Musk is making the airframe completely renovated with special welding, ‘stir welding,’ and Dragon, which are great ideas. With the progress of private companies, it is evident that we are getting closer to sending humans to space.
The world today revolves around technology and is in an ever upward spiraling path of new advancements. This path is now at what some people call the “final frontier”, or the space age. The discoveries being made on this front are overwhelming in comparison to the technology that the world had only twenty years ago. Space exploration was once left up to the governments, as they battled to be the first country in space, but with national debts raising and the cuts made in response, space exploration is beginning to become new grounds for private business owners. Private companies are already beginning to send off rockets at a fraction of the cost that government does, but if more money was put into the government space program, then they
Arguable the most important factor of creating a privatized space program, however, is simply the furthering of man’s knowledge of that marvelous frontier. With more opportunity to explore and research the many celestial bodies near and far from Earth, man can strive into a new era of technology and information. Countless stars within countless galaxies lie in wait as people seek to
Executive SummaryVirgin Galactic (VG), which is a part of the Virgin Group, is a leading company and pioneer in Suborbital Travel Industry. By offering the lowest price in the market and making the dreams of space travelling come closer, VG attracts the attention from the general public. With the successful launch of Spaceship One, VG once again determines that space travelling is possible. With Spaceship Two being tested, it promises that our dreams of seeing the Earth from space are not that far from the future.