To: Jonathan Gouldinhok From: Ben Liu Date: 6 October, 2014 ub!ect: "e# Bar To$ % &atent and ell to 'lub( Recommendation: )$$l* +or a $atent immediatel*, immediatel*, look +or club( and bar( #ho are #illin to take Jonathan-( $roduct. Jonathan in/ented a ne# bar to$ but i( un(ure o+ ho# to market it. Jonathan-( Jonathan-( limited on time and mone*. e borro#ed mone* +rom hi( $arent(, and need( to $a* them back $re+erabl* #ithin month(. Other club( can al(o co$ * the idea uickl*, and create com$etition #ith Jonathan-( $roduct. Decision Criteria and Alternatives The +ollo#in deci(ion criteria #ere con(idered in the makin o+ thi( recommendation:
The +ollo#in are alternati/e( to the recommendation:
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'reatin a ne# club that e5clu(i/el* u(e( Jonathan-( ne# machine 'reate a ne# club, and al(o (ell the $roduct to other club( ell $atent or licen(e $atent to a manu+acturer
Analysis Jonathan ha( limited time and mone* to im$lement hi( $lan(
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e mu(t market and (ell hi( $roduct uickl* to take ad/antae o+ hi( inno/ati/e idea e mu(t return hi( $arent( in/e(tment $re+erabl* #ithin month( e #ill ha/e to balance hi( li+e out bet#een e5tracurricular acti/itie(, acti/itie(, commercialiin hi( $roduct, and (chool. (chool. e mu(t con/ince credit card com$anie( and debit card com$anie( that hi( $roduct i( (ecure enouh +or mobile $a*ment.
Implementation Plan hort term:
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eek out $atent $rotection. eek out $otential bu*er(, (tart takin in order(, and (tart $roduction.
Lon term:
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Form $artner(hi$( #ith credit card com$anie(, debit card com$anie(, and lare club( to better market hi( idea and leitimie hi( bu(ine((. )d/erti(e nation#ide to attract attention to hi( $roduct. Form $artner(hi$( #ith tech com$anie( to enhance the e5$erience( o+ hi( $roduct +or cu(tomer(.
Risks and Contingency Plan 7i(k(:
1. 8aterloo club( nor $ub( #ant to $urcha(e the ne# bar to$ 2. 'redit card and debit card com$anie( ma* not (u$$ort hi( $roduct, thereb* neatin hi( entire conce$t 9. ) (imilar $roduct alread* e5i(t( and the com$an* holdin the $atent( i( ho(tile to Jonathan-( $roduct 'ontinenc*: 1. &atent hi( $roduct to $re/ent co$*in o+ hi( idea - 3arket to#ard( other $ub( and club( - tart a $roo+ o+ conce$t barclub to demon(trate the abilitie( o+ hi( ne# to$ to $otential bu*er( 2. &atent the $roduct and kee$ $ur(uin the $artner(hi$ until the* i/e in - There i( reall* nothin Jonathan can do i+ thi( ha$$en( 9. 'ome u$ #ith (ome di(tinui(hin +eature +or hi( $roduct - Form $artner(hi$( #ith other com$anie( to enhance the u(er e5$erience )((um$tion( and 3i((in ;n+ormation
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"o in+ormation i( i/en about: Jonathan-( current academic (tandin( <rade(= o Jonathan-( current e5tracurricular in/e(tment( o Jonathan-( current +inancial $o(ition o o The (tate o+ the eneral en/ironment and i+ e5ternal +actor( are +a/ourable The e5i(tence o+ other $roduct(, or alternati/e((ub(titute( o
