Flying to outer space is on my bucket list, and now there\'s a chance. Albeit, n
ID: 457695 • Letter: F
Question
Flying to outer space is on my bucket list, and now there's a chance. Albeit, not an affordable one, but the option is becoming more viable than ever before.
When you look into the pricing, the verbiage reads "A seat to space with Virgin Galactic and membership of the Future Astronaut community requires the full price of US$250,000 to be paid as an up front deposit." To me, this implies there will be additional costs as you progress in the process to fly in outer space, but it wouldn't stop me. If I can afford $250,000 to go on a vacation, then I can probably afford another $500,000 (if necessary) in miscellaneous items. I believe their pricing strategy is designed to support their fleet of space shuttles, if they add on additional costs, otherwise this could potentially be a profit bust. There are a ton of costs that go into flying/operating a space craft including R&D, training various crew members, building the components, testing, then comes all the costs associated with branding, marketing, and promotions.
Product - Fleet of commercial space shuttles. People want the experience of seeing the Earth from outer space with their own eyes. No one else has a product out on the market that can do so. When Virgin Galactic successfully launches, they will be the first of their kind.
Place - Although they are based in California, this is not a product meant to cater to the immediate geographic area. By bringing their operations online, they have availed themselves to the users of the World Wide Web - anyone that can click on their link.
Price - $250,000+. I would like to see how the pricing structures upon their release. I believe they are priced in a way so that even someone in the middle class can possibly travel to outer space.
Promotion - Luckily, the Virgin brand is well established currently running domestic and international airline flights for a variety of passengers. Their existing reputation coupled with their new endeavors will surely have a great reception.
I believe by stating the cost of flying to outer space will draw a lot of attention. Even someone like me is now thinking it can be possible for me to fulfill the one dream, but I am unsure of whether or not they will follow through on that number. If they do, great - it's actually 'affordable'. But, then I wonder what type of doors it will open for companies that want to offer an even more affordable option. Does this mean they'll be skimping on something, like the quality of parts used on their crafts?
http://www.virgingalactic.com/human-spaceflight/fly-with-us/
Explanation / Answer
Competition can happen where there are number of companies providing the same services and there is a lot of demand to consume that service.
In this case, I dont see lot of demand comming in and though its affordable, not all would want to go to outer space. Its a matter of preference.
SO think there might be few compitetors but similar to aviation industry more the accidents in one company less will be the clients. The sam erule will follow.
And even if this happens, government will setup some norms to ensure that companies do business as per safety standards.