Reference no: EM132183731
Sir Richard Branson once said, "I want Virgin to be as well known around the world as Coca-Cola." Branson wants every venture to be different, stylish, fun and better on quality, customer service and overall value than its rivals.
How much does image matter to an organization? In the case of the Virgin Group, market perception or image defines their essence. Branson's business empire now extends into airlines, books, casinos, cell phones, cruise lines, high-speed rail, music production, music retailing, radio stations, travel and dozens of other youth-oriented products leveraging this powerful brand name and global image. One of Branson's latest ventures is Virgin Galactic which commercializes space travel. Reportedly, they have already received thousands of deposits for the $250,000 short flights into outer space. For this fee, "astronauts" will get three days of training, the stay at the spaceport and the trip into space (you are now free float around the cabin).
1. How much of Virgin's success can be attributed to their cool status?