Virgin Galactic Essay

2929 Words Nov 29th, 2007 12 Pages
Table of Contents
Table of Contents 2
I. History and Evaluation of Space Tourism 3
II. Introduction of Virgin Galactic 3
III. Mission and Vision 3
IV. Business Strategy 3
V. Market Research 4
VI. Technology Strategy 4
A. Porter's Five Forces 4
B. SWOT Analysis 6
C. Ans-Off Matrix 7
D. BCG Matrix 7
VII. Technical Issues And Space Vehicle of Virgin Galactic 7
VIII. Future of Space Tourism 8
IX. Future of Virgin Galactic 8
X. References 9 I. History and Evaluation of Space Tourism
Space tourism, which offers a unique type of adventure, is no longer a dream or fantasy, but it is nearly materialized. Currently, companies in Russia, Europe, and the United States are competing to become future leaders of space tourism. Bigelow
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The collaboration of Virgin Galactic with its sister companies is another wise strategy that brings another competitive advantage to VG. It is believed that the established brand recognition of Virgin Group brings high reputation to Virgin Galactic and high confidence to customers. Meanwhile, both the strong financial assistance from Virgin Group and the cooperation with its sister companies provide Virgin Galactic conveniences and reduce costs in running its business and enforcing its influence in the market. The two main competitors of Virgin Galactic don't possess similar close partners and can't enjoy similar supports and benefits.
V. Market Research
According to the statistics provided by the survey conducted by Futron corp. (2002), marriage and gender are two most important factors impacting the preference of the space trip. In the survey, all married persons were interested in the space trip and willing to pay $100,000 to $250,000 for the trip. 94% of the male respondents were interested in the luxurious trip while only 6% female respondents were interested in it. Thus, in short term, the fans and consumers of suborbital trip will be the rich married males.
The survey also showed that only 20% respondents had no interest in space travel. However, in the 20% uninterested responses, individuals rejected the trip for different reasons. For 21% it was the high expense, and for 11% it was the risk. This means

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