Using market research he can see how popular this would be, which would allow him to see how many sales he can make & which market it will target. This will enable him to perhaps style his product towards a more differentiated market.
He could look at sales figures to show how much it will cost to be a part of Virgin Galactic & see if it is profitable for Richard.
He could send out questionnaires, carry out surveys, polls to analyse how effective the service is to the public & this would also enable changes to be made if it was re-launched. For example if prices were too high changes could be made to the re-launched product to make it cheaper & increase sales.
Find out the profit margin which is an essential figure that shows you how much money the product made.
Carry out surveys, gather customer feedback and look at sales figures to see what needs to be improved in the product or service.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment