Informal Report

To: Jonathan Gouldinhok

From: Ben Liu
Date: 6 October, 2014
Subject: New Bar Top Patent and Sell to Clubs
Recommendation:
Apply for a patent immediately, look for clubs and bars who are willing to take Jonathans product.
Jonathan invented a new bar top but is unsure of how to market it. Jonathans limited on time and money.
He borrowed money from his parents, and needs to pay them back preferably within 7 months. Other
clubs can also copy the idea quickly, and create competition with Jonathans product.
Decision Criteria and Alternatives
The following decision criteria were considered in the making of this recommendation:
-

Meeting financial performance

Maintaining competitive edge
Keeping consistency between managerial preferences, strategy and resources
Meeting customer needs

The following are alternatives to the recommendation:

-

Creating a new club that exclusively uses Jonathans new machine

Create a new club, and also sell the product to other clubs
Sell patent or license patent to a manufacturer

Analysis
Jonathan has limited time and money to implement his plans
-

He must market and sell his product quickly to take advantage of his innovative idea
He must return his parents investment preferably within 7 months
He will have to balance his life out between extracurricular activities, commercializing his
product, and school.
He must convince credit card companies and debit card companies that his product is secure
enough for mobile payment.

Implementation Plan
Short term:
-

Seek out patent protection.

Seek out potential buyers, start taking in orders, and start production.

Long term:
-

Form partnerships with credit card companies, debit card companies, and large clubs to better
market his idea and legitimize his business.
Advertise nationwide to attract attention to his product.
Form partnerships with tech companies to enhance the experiences of his product for customers.

Risks and Contingency Plan

Risks:
1. Waterloo clubs nor pubs want to purchase the new bar top
2. Credit card and debit card companies may not support his product, thereby negating his entire
concept
3. A similar product already exists and the company holding the patents is hostile to Jonathans
product
Contingency:
1.
2.
3.
-

Patent his product to prevent copying of his idea

Market towards other pubs and clubs
Start a proof of concept bar/club to demonstrate the abilities of his new top to potential buyers
Patent the product and keep pursuing the partnership until they give in
There is really nothing Jonathan can do if this happens
Come up with some distinguishing feature for his product
Form partnerships with other companies to enhance the user experience

Assumptions and Missing Information

-

No information is given about:

o Jonathans current academic standings (grades)
o Jonathans current extracurricular investments
o Jonathans current financial position
o The state of the general environment and if external factors are favourable
o The existence of other products, or alternatives/substitutes