Innovation and Entrepreneurship: Solar Camping Tent Business Plan

This report details a comprehensive business plan for a solar camping tent, focusing on innovation and entrepreneurship. It includes an introduction outlining the product's features and benefits, followed by a company description and mission statement. The report analyzes market entry strategies, including legal requirements and style considerations for the New Zealand market, and proposes a decentralized pricing strategy with e-commerce as the primary distribution channel. A situational analysis incorporates PESTEL and SWOT analyses to assess political, economic, socio-cultural, and technological factors, as well as strengths, weaknesses, opportunities, and threats. The marketing mix strategy, targeting a specific audience, and budget allocation are also discussed. The plan aims to establish the solar camping tent as a unique and eco-friendly product, leveraging renewable energy and addressing the needs of camping enthusiasts and tech-savvy travelers. The conclusion summarizes the key points, emphasizing the product's potential for market success.

Running Header: Innovation and Entrepreneurship
Innovation and Entrepreneurship
Authors Name:
Authors ID:

Innovation and Entrepreneurship
Contents
Introduction................................................................................................................................3
Company description.................................................................................................................3
Mission and vision statement.....................................................................................................4
Market entry strategies:..............................................................................................................4
Pricing strategy...........................................................................................................................5
Situational analysis.....................................................................................................................5
PESTEL Analysis...................................................................................................................5
SWOT analysis.......................................................................................................................6
Marketing mix strategy..............................................................................................................7
Target audience..........................................................................................................................9
Budget allocation.....................................................................................................................10
Conclusion................................................................................................................................10
References................................................................................................................................12

Innovation and Entrepreneurship
Introduction
Business plan is a document which is termed or referred as the outline or the path through
which the business entity will be making the accomplishment of the desired objectives or
goals (Abam, 2018). The below presented marketing plan has been developed by the business
corporation for promoting and establishing a distinct image of the Solar Camping tent in the
market and new regions.
There are a wide range of ideas which are available for the organization at large, but the
feasibility of a plan depends on its practical implementation (Armstrong, Kotler, Harker &
Brennan, 2015). So among this wide range of idea, not all of them can be chosen for
implementation. Hence, for the sake of implementation, the idea related to the Solar Camping
Tents has been chosen by the Oxford College of Marketing in 2017.
Product description
The prime product on which the presented business plan is focused is the solar camping tent.
Ergonomically design is the firm that has been used by the business entity for designing the
solar camping tents, this form of design is practically used for developing the product.
(Arrawatia, 2018). The tents are fully advanced with some upgraded features such as they are
bright and peculiar and is also attached with a USB adaptor with lithium batteries. The given
features are very easy to use after the solar camping tent is connected to the given solar
panels. The individual who will be camping under the sola tent will be able to make use of all
the features and electronic equipment charged and get lighting facilities as well and that to
without making any kind of additional expenses. And these features are the biggest reasons
due to which the business entity will be able to stimulate and attract the consumers on large
scale thus offering them set of innovative solutions. If the electronic devices and equipment
refuse to function the camping trip will become quite difficult in nature. And this is another
reason or the main purpose, due to which the product is able to seek more and more attention
of the customers who love camping and will also be able to enjoy the technological aspects as
well. Moreover, the solar camping tent will also allow the tourists to travel to remote areas
with their technological devices such as mobile, lights, small fridge, laptop, fan.

Innovation and Entrepreneurship
Mission and vision statement
Solar is a renewable source of energy and by making use of this energy number of products
has been developed and the same is the solar camping tent. The prime objective of the
presented article is to develop and establish the image of the solar camping tent in the
markets and new regions. Hence, if any individual is planning for a trip and for which require
a tent then this article will aid in making the choice for the best will suit the needs (Caroline,
Compte & Leite, 2018). The vision of the business entity is to provide best quality of product
by making use of solar energy which is a renewable source of energy, thus supporting the
environment and revolutionizing the technological sector with the innovative solar product.
Market entry strategies:
Two areas that the company needs to consider when marketing the product to New Zealand
are the legal requirements and the style. For the legal requirements, the New Zealand Federal
Government has placed policies concerning important requirements for products such as the
product having to be of accepted quality and the product has to be fit for the purpose it was
made, which are the most important regulations for the product known not only in this
specific country, but worldwide. Otherwise the consumer has the right to have the product
purchased, replaced with another product or one of the same type, or have it refunded. There
are many colours which appeal to the New Zealand population. Some of the main colours are
black, blue and red. All these colours represent New Zealand and are appealing to the New
Zealand population. For our product to be successful the style must appeal to New Zealand.
The tents will come in blue, red and black/orange. We will also imprint a silver fern on each
of our tents. Representations of colours in New Zealand Red represents power, energy,
passion, desire, speed, and strength Black represents sophistication, formality, elegance,
wealth, and mystery. Blue Represents peace, harmony, unity, trust, truth, security,
confidence, conservatism and loyalty The silver fern is a powerful and emotional symbol of
inspiration for New Zealand people at times when it matters. A badge of a silver fern is worn
by soldiers in the military and is also imprinted on the New Zealand cent
Pricing strategy
The business corporation is planning to make use of a decentralized strategy as a pricing
strategy. The organization prefers this methodology over the unified procedure on the
grounds that the decentralized technique concentrates more on a particular goal for the

Innovation and Entrepreneurship
promoting of the product (Lane & Dieterlen, 2018). With this procedure, an assembling plant
for the material of the tents could be set up in another nation like the one can be promoted the
item in, New Zealand, and the business entity could procure a business drive in that nation,
and even permit the brand to a neighbourhood manufacturer that it very well may be
effectively trusted. Despite the fact that the lowest pay permitted by law is very high in New
Zealand, it would not be intelligent to ship to a nation up until this point. In this manner,
opening the assembling plant in New Zealand is a sensible choice. The most ideal approach
to achieve the clients is through web based business. The organization will dispatch a site that
will give buyers the chance to purchase the item online through an assortment of charge card
choices and in addition PayPal. The business association will offer the item in stores too, yet
e-distribution will be a principle path through which the conveyance of the item will likewise
be finished. The exchanges will incorporate B2C (business to consumer), in which the
business association offer lessened transporting charges to buyers in light of the estimation of
their buy.
Situational analysis
PESTEL Analysis
1. Political- Political factors are considered to be associated to the governing legislations
and the political climate within the region in which the business will be operated. The
political factors that will affect the solar camping tent are product rights and licensing
and trade regulations. As the product is based on solar energy and is an eco-friendly
product, it will be favourable for the business entity as there will be less legal and
governing interferences. (Pavlou & Stewart, 2015).
2. Economical- Purchasing power of the consumers, inflation rate, interest rate and
exchange rates are the prime elements which are considered under the economical
factor. The income level, standard of living and the economic situations of the region
and the individual will be stimulating the product and hence are required to be
considered as significant which will be stimulating the product and the business
organization.
3. Socio-cultural - The society, lifestyle, standard of living, the behavioural aspects and
the perceptions of the individuals, buying behaviour are some of the prime elements
which are considered as significant under social factor. These elements will surely
affect the product and hence are required to be considered as significant while

Innovation and Entrepreneurship
developing the product as society plays a crucial role in the success and growth of a
business corporation and same will be for the Solar camping tent.
4. Technological – Technology is one of the most significant aspects for the business
organization as the core operations and functions are totally associated with the
technological environment. Solar camping tent is a product which is manufactured by
making use of technology and hence the business entity is required to keep itself
ahead in this aspect. Coping up with the technological environment will be proven
beneficial for the business entity.
SWOT analysis
SWOT analysis will enable the business entity in recognizing the strength and weakness of
the product and also the threats and opportunities will be known (Johnston, JZawawi, 2009).
The presented SWOT analysis is developed for the solar camping tent:
Strength
 Price of the product is moderate as it is totally based on the making use of solar
energy and which will be proven beneficial for the consumers as they will not have to
invest any more money while using it. And this is one of the biggest strength of the
product.
 As the product is very much eco-friendly it have a societal advantage, which has
increased level of goodwill in the market. High level of goodwill will counted at the
top in the list of the strengths of the business entity.
 The camping tent is very much compact and handy to use. It consumes very less space
and hence it very much easy to carry along on trips. This is strength for the product as
this feature has increased the popularity of the product.
Weakness
 The product is developed by combining various complex parts and solar panels and
hence some it becomes difficult and tough for the tourists to un-wrap and assemble
the camping tent (Hollensen, 2015).

Innovation and Entrepreneurship
 As the product is totally based on solar energy so sometimes bad climatic conditions
may create problems. The tent requires a particular amount of solar rays to get
charged up and if not done so the tent will have be no use (Reich, 2017).
 Moreover, necessary adaption of safety measures and controls is required and hence
sometimes it can be complicated for and will turn into weakness.
Opportunities
 As the product is unique hence it will have a possibility of attaining and attracting
high level of attention in the market. This can also be considered as strength for the
product as well as an opportunity if considered in future terms.
 Business establishment is always one of the biggest opportunities for any of the
business corporation and same will be with the solar camping tent (Foxall, 2014). As
the product is not so familiar in the market it will have great expanding opportunities
in the new market regions.
 As the product runs on a renewable source of energy (solar energy), the product will
have great opportunities for success in future.
Threats
 Competitive environment is one of the biggest threats for any of the company and its
products and same is with the solar camping tent (Luchs, Swan & Creusen, 2016).
Innovation and technological up-gradation in the business environment has increased
the level of competition for the solar camping tent.
Marketing mix strategy
Marketing mix is a well-blended combination of the elements which are considered
the most significant while conducting the market research and are used by the business
corporation for promoting the product in the market. 4 P’s are the main elements of this
strategy and conducting research over these elements the entity will be able to establish the
product in the market (Gustavo, 2013). Marketing mix strategy is one of the best tools that
will aid the business entity in knowing all the aspects of the marketing which will be proven
advantageous in developing the other strategies for the establishment of the product in the
market. This assessment procedure educates the components of a sun powered showcasing
plan.

Innovation and Entrepreneurship
Regardless of whether and advertiser will likely convince a client to visit a store, test
another item, buy a current item, visit a site, make a gift to a non-benefit association, or ask
about a sun powered motivating force program, the procedure is the same. Basically,
advertising matches the correct client to the correct item, bringing about a deal (Chang, Yu &
Lu, 2015). As states apply showcasing ways to deal with their sun powered activities, they
will turn out to be more clients cantered, as opposed to program-cantered, and, accordingly,
turn out to be more viable in accomplishing sun oriented objectives (Hollensen, 2015). On the
off chance that one "begins considering the end," a sunlight based promoting plan recognizes
how a state program will accomplish introduced megawatt objectives through obtaining of
private, business and institutional clients. The 4P's guarantee that all parts of the "deal" are
secured. Enhancing the way toward obtaining sunlight based won't the only one have any
kind of effect in general deals if the value/esteem condition has not been tended to. On the off
chance that buyers are not sure about the unwavering quality of sunlight based, enhanced
estimating alone won't make any difference (Kleinaltenkamp, Plinke & Geiger, 2016). All
components must cooperate to rouse the objective client to make a move. In this manner, the
improvement of a sunlight based advertising plan must begin in view of the shopper.
Product
From the viewpoint of buyers' level-headed and passionate mentalities towards sun powered
innovation. These states of mind influence the longing to buy (Kleinaltenkamp, Plinke &
Geiger, 2016). Customer response to sun based revolution (e.g. value, stanch quality, quality
issues) advises advertising and interchanges models by differentiating both the open doors the
attributes and positive specifications that ought to be marshalled and the hindrances the
worries and "issues" that avoid deals (Malhotra, 2015)
Price
Price of the product is the value for which the consumer uses the product and is the most
significant factor which will decide the buying behaviour of a consumer. The price of a
product should be so developed that it offers expected level of satisfaction to the customer.
The price of the product depend on various aspects such as the type and category of product,
income level of the targeted consumers and their purchasing power (Meffert, 2013). He
business entity can make use of low pricing strategy for stepping up in the new market
regions and after establishing the image and brand in the market the prices can be increased
gradually. Notwithstanding, states must guarantee that planned clients know about these new

Innovation and Entrepreneurship
financing techniques and forcefully advance the monetary "esteem" of sunlight based items to
purchaser targets.
Place
Place or channels through which Solar camping tent, likewise is a territory where sun
oriented projects have an imperative job through their work with installers, designers, and
providers (Pasquier & Villeneuve, 2017). Building a solid provider arrange is basic in staying
aware of rising interest; guaranteeing that clients can without much of a stretch discover an
installer is a piece of this undertaking. States additionally should take a gander at how
complex the sunlight based deals process can be for purchasers and how sun oriented projects
can limit and facilitate the exchange procedure.
Promotion:
The mediums or the channels that are used for advertising and promoting the products are the
promotional tools and these are the mediators that influence the customers and intend them to
buy the product. The prime promotional tools used by the business organization for
promoting the Solar Camping Tent are a brochure (Babin & Zikmund, 2015). This brochure
is well blended mixture of attractive images and a catchy description of the product which
will be easily attaining the attraction of the consumers and thus increase the chances of
promoting the product among local customer audience because it is easy to read, and can fit
in more information than an average flyer and nowadays, brochure can also be looked at and
can also be printed off to be viewed, so why not use it to contribute to the marketing of the
social powered camping tent? Moreover the business entity is also making use of social
media for promoting the product in global marketing regions (Ryan, 2016). The business
entity will also have a website that will have a detailed description of our product as well as a
payment option for customers to have the tent shipped directly to their address. Lastly, once
our company reaches a targeted amount of sale we will be launching a commercial.
Target audience
Target audience is the various segments of the consumers that are developed on the basis of
the certain aspects of the consumers (Baker, 2014). Target audience can also be termed as the
intended audience which will developed on the various elements and attributes of the
consumers such as demographic, psychographic, geo-graphic etc.

Innovation and Entrepreneurship
For the product the target audience will be mainly youngsters who are interested in
tracking and camping (Baker & Saren, 2016). All these camping and other adventurous
stuffs are in trend today among youngsters. Therefore, in this situation solar camping tents
will be a necessity and a reliable option for them. This can be done by following
strategies:
Target strategy: Commit the advertising to educating the customer the utility of the
product and its effect on the environment. If the organization knows when the local utility
sends out bills to customers, the entity may wish to target those days with retargeted web-
based advertising, or local TV, newspaper, and radio commercials.
Target strategy: Talk to the customers about the long term costs of unstable fuel supplies.
Coal, oil, natural gas, all these are non-renewable resources and will end someday) and
other fossil fuels come with a diminishing supply and an increasing demand–an economic
double whammy resulting in unending price hikes (Ryan, 2016).
Budget allocation
Budget planning for Solar Camping Tent
Resource Amount ($)
Miscellaneous Cost 25,000.00
Salary to brand promoters 50,000.00
Tools and equipment 40,000.00
Labor (25 Staff*$2,000) 50,000.00
Office employees (15 officials*$3000) 45,000.00
Total 2,10,000.00
Conclusion
After summing up the above presented analysis it has been inferred that the business plan is a
relevant tool that is required to be developed while planning for the establishment of a new
venture. The above presented business plan is a well-blended combination of various aspects
and marketing segments Detailed market research has been executed for developing the
various segments of the business plan for Solar Campaign Tent.

Innovation and Entrepreneurship
References
Abam, E. N. (2018) Br&ing As a Means of Positioning Itself in the Marketplace –A Case
Study of the Catholic University Institute of Buea –The Entrepreneurial
University. Business, Management & Economics Research, 4(1), 11-14.
Armstrong, G., Kotler, P., Harker, M. & Brennan, R., (2015). Marketing: an introduction.
Pearson Education.
Arrawatia, S. B. D. M. A. (2018). FUTURE PROSPECTS OF WOMEN Entrepreneurship in
India. International Journal of Innovation in Engineering Research & Management
ISSN 2348-4918, ISO 2000-9001 certified, E, 5(01).
Babin, B. J., & Zikmund, W. G. (2015) Exploring marketing research. Cengage Learning.
Baker, M. J. (2014). Marketing strategy & management. Palgrave Macmillan.
Baker, M. J., & Saren, M. (Eds.). (2016). Marketing theory: a student text. Sage.
Caroline, L., Compte, M., & Leite, J. (2018). Case study authors: &ré Brunoni & Felipe
Fregni. Critical Thinking in Clinical Research: Applied Theory & Practice Using
Case Studies, 417.
Chang, Y. T., Yu, H., & Lu, H. P. (2015) Persuasive messages, popularity cohesion, and
message diffusion in social media marketing. Journal of Business Research, 68(4),
777-782.
Foxall, G. (2014). Strategic Marketing Management (RLE Marketing) (Vol. 3). Routledge.
Gustavo, N. (2013) Marketing management trends in tourism & hospitality industry: Facing
the 21st century environment. International Journal of Marketing Studies, 5(3), 13.
Hollensen, S. (2015) Marketing management: A relationship approach. Pearson Education.
Johnston, J, Zawawi, C (2009) Public Relations Theory & Practice, 3rd edn, Allen & Unwin,
Australia.
Kleinaltenkamp, M., Plinke, W., & Geiger, I. (2016) Business Relationship Management &
Marketing. Springer-Verlag Berlin An.
Lane, J. E., & Dieterlen, F. (2018). Asia & the 21st Century: Decarbonization & Huge
Energy Increase. European Journal of Economic & Business (ISSN-2456-
3900), 3(01).
Luchs, M. G., Swan, K. S., & Creusen, M. E. (2016) Perspective: A review of marketing
research on product design with directions for future research. Journal of Product
Innovation Management, 33(3), 320-341.

Innovation and Entrepreneurship
Malhotra, N. K. (2015) Essentials of marketing research: A hands-on orientation. Essex:
Pearson.
Meffert, H. (2013) Marketing-Management: Analyse—Strategie—Implementierung.
Springer-Verlag.
Pasquier, M., & Villeneuve, J. P. (2017) Marketing management & communications in the
public sector. Routledge.
Pavlou, P.A. & Stewart, D.W. (2015) Interactive Advertising: A New Conceptual Framework
Towards Integrating Elements of the Marketing Mix. In New Meanings for Marketing
in a New Millennium (pp. 218-222). Springer International Publishing.
Reich, M. (2017) Racial inequality: A political-economic analysis. Princeton University
Press.
Ryan, D. (2016) Underst&ing digital marketing: marketing strategies for engaging the
digital generation. Kogan Page Publishers.