OCTAPEN

OCTANE GAS PEN DETECTOR

By: Khalid Bakri, Katarina Djakovic,

MaJennine Maninang, Joshua Ruiz
Entrepreneurship 3301 Bob Wright

IDEA AND BENEFITS:

Pen that measures the octane rating of gasoline

and volume of gasoline tank- also writes!

OPPORTUNITY

What trend does it take advantage of?

Gasoline

companies earning profit based on unethical

decisions (mixing gas)
No method possible to prevent this fraud

What problems does it solve?

Allows

the ability to easily measure the octane level

on a individual consumer level
Financial impact it has on consumers

What gap does it fill?

Octane

analyzer used solely by professionals

FEASIBILITY:
Industry/target

market :

Gasoline industry is in high demand

1. U.S. gasoline demand was 8.73 million
barrels per day
2. Hybrid and electric vehicles account for
approximately
3% of all vehicle registrations
3. There were 210.1 million licensed drivers in
the United States in 2010.

FEASIBILITY:
Product/service

feasibility:

Shatox Company already has a device

1. Manufactured portable octane meter
2. Must fill out form for purchase inquiry
3. Uses fluid to read octane rating
4. Russian company based worldwide
Octapen will be more accessible and
portable for the public, and well-known
Octapen will use gas to read octane
rating

FEASIBILITY:
Financial

Feasibility:
Capital needed: $3 million
1. Research and
development for a
device that reads gas
2. Manufacturing costs
3.Marketing

FEASIBILITY:

Organizational:
Khalid:

Knows the oil industry

thoroughly; Business Law Major
Jennine: Entrepreneurship Major
Katarina: Marketing Major
Joshua: Business Admin. Major

NEXT STEPS:
Speak

to mechanics and experts

Interview gas professionals
Survey target audience to gain input
The question is: will customers perceive our
product as a necessity?
Use buying intentions survey
Develop initial design of pen and features
Price: $25 [est.]
During initial stages of promotion market first to gas
stations and vehicle-driving consumers
Sell as individual units to:
Hardware stores
Car repair shops and dealers
Military