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Key aspects of my explanation include:
Demand Analysis:
My view emphasizes the importance of assessing the level of consumer demand for space tourism leisure . If the demand is low, he suggests that increasing the "manufacturing number" (i.e., the supply of space tourism services) would lead to "low price" sales, potentially making the venture unprofitable .
Conversely, high demand would justify increasing supply to meet customer needs and allow for "high price" sales, maximizing revenue . This aligns with fundamental economic principles where price is influenced by the interplay of demand and supply [6].
Supply Considerations: He also addresses the supply side, questioning how many space tourism leisure providers would be reasonable to satisfy the future number of space leisure travelers .
This involves considering the infrastructure, technology, and operational capacity required to deliver these unique experiences .
Future Market Prediction: My work aims to apply economic demand and supply theory to predict the future trajectory of the space tourism leisure market . This includes analyzing factors that influence consumer behavior in this specialized sector, potentially utilizing both traditional tourism marketing methods and advanced tools like Artificial Intelligence (AI) for more accurate predictions .
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John Lok
My works, particularly those focusing on space tourism and behavioral economics, do not explicitly detail specific technological improvements for space tourism. Instead, his writings emphasize the application of economic principles, psychological understanding, and strategic marketing to foster the industry's development and success [. My focus is on the market dynamics and human factors that influence the viability and growth of space tourism, rather than the engineering or technological advancements required for space travel itself.
Here's a breakdown of how my view believes space tourism can be improved, focusing on the areas he addresses:
1. Understanding Demand and Supply Economic Theory
My view posits that the fundamental role of demand and supply economic theory is crucial for assessing the viability of any product or service, including those in the space tourism leisure market . My view argues that understanding these dynamics is essential for determining whether to invest in and scale up offerings. If demand for space tourism is high, providers can justify higher prices and increased manufacturing or service provision; conversely, low demand should lead to reduced offerings to avoid price depreciation .This foundational economic analysis forms the bedrock of his argument for potential economic development .Therefore, an "improvement" in this context would involve a more sophisticated and data-driven approach to market analysis, ensuring that supply aligns with actual and projected demand to optimize profitability and growth .
