The Rationale for STAND-BY GOLF

1. The economic objective of a Golf Course is to maximize utilization of tee times. On weekdays and during the off season, many tee times are not filled.
   
   
2. An empty tee time cannot be placed into inventory; when the time passes, it assumes zero value.
   
   
3. Sales at golf shops, restaurants, and bars increase directly in proportion to the number of tee times sold.
   
   
4. STAND-BY GOLF will increase golf course utilization by bringing into the market those golfers who are prepared to "stand-by" for a tee time in order to get a substantial price reduction, even though they cannot select the golf course.
   
   While the number of golfers is still growing, the number of rounds played per golfer is declining as green fees have continued to increase. The golfing market is elastic, i.e.., price sensitive, so STAND-BY GOLF will have a major positive impact on the rounds played per golfer.
   
   
5. When a "stand-by" golfer receives a price reduction, it is VERY DIFFERENT from a club advertised price cut or "2 for 1" coupon. The former does NOT change the value of the product (a round of golf); rather, THE GOLFER IS TRADING PART OF THE GREENS FEE FOR HIS WILLINGNESS TO "STAND-BY". IN THE CASE OF A CLUB-ADVERTISED PRICE CUT, THE VALUE OF THE ROUND OF GOLF HAS TRULY BEEN DEPRECIATED FOR ALL THE WORLD TO SEE.
   
   Thus, STAND-BY GOLF will not tarnish the image of a club, no matter how prestigious it may be, any more than the PHANTOM OF THE OPERA is devalued by the sale of a "stand-by" ticket for a reduced price.
   
   
6. STAND-BY GOLF will increase golf course utilization by providing the convenience of a single telephone number (321-BOOK) to call instead of the many different numbers for Southern California public and semiprivate courses, and the golfer will be able to call 321-BOOK from 6a.m. to 9p.m., long after the golf courses have closed.