Solar Camping Tents: Innovation and Business Plan Project

This project presents a comprehensive business plan for solar camping tents, focusing on innovation and entrepreneurship within the tourism sector. It begins with an introduction to the concept, emphasizing its eco-friendly and cost-effective nature. The project details the components of solar tents, their benefits for tourists, and identifies the target audience as environmentally conscious campers. A PEST analysis evaluates political, economic, social, and technological factors influencing the business. Porter's Five Forces are used to conduct micro-analysis, highlighting strengths, weaknesses, opportunities, and threats. The project explores market trends, segmentation, and a marketing mix including product, place, pricing, and promotion strategies. A budget and finance section provides financial projections. The project concludes with recommendations for marketing, technological improvements, and future directions. References from relevant academic sources support the analysis and findings.

SOLAR CAMPING TENTS

INNOVATION AND CREATIVITY
• Innovation is the most
important aspect of any
organization (Drucker,
2014). Organizations that
strive to be sustainable
need to come up with
innovative and creative
ways of running operations.

ECO FRIENDLY INNOVATIONS
• The need of the hour at
present is to develop eco
friendly, innovative ideas
which would reduce the toll
on the environment – thus
enhancing corporate social
responsibility (Berrone et
al., 2013).

SOLAR CAMPING TENTS
• Solar camping tents have
been chosen as the innovative
idea for this report.
• The reason why they have
been chosen is because they
are eco friendly, cost effective
and extremely useful to
customers.

COMPONENTS OF SOLAR TENTS

ABOUT SOLAR TENTS
• 100% natural
• They use solar panels for energy.
• Ergonomically practical.
• Powered by USB adaptors with
lithium batteries enabling people
to charge their devices through
this renewable energy source.

ABOUT SOLAR TENTS
• They would be perfect
for tourists who prefer
eco friendly means of
accommodation as
compared to traditional
options (Lee, Wong &
Lin, 2013).

TARGET AUDIENCE
• The target audience for this
innovative idea would be tourists
who go camping regularly and
would be more inclined to use
green and eco friendly tents.
• Tourists, both men and women
who are environmentally conscious
would be the target audience
(Chiu, Lee & Chen, 2014).

PEST ANALYSIS
• Political factors – Most countries have strict regulations with
respect to camping, use of solar energy, trade regulations et
cetera., which will have to be taken into account. However,
most governments look favorably upon solar panel use and
it is expected that the idea will get the green signal.
• For example, Australia has the renewable energy target
scheme which promotes the use of solar energy
("Cleanenergyregulator", 2018).

PEST ANALYSIS
• Economic factors – This
refers to the buying power
of the people, the
availability of resources,
suppliers, the trade
regulations in different
countries, export and
import et cetera.

PEST ANALYSIS
• Social factors – This product is
bound to appeal to target
audiences because it is eco friendly
and adds value to the customers.
Most travelers and hikers today
seek out eco friendly and
renewable camping equipment
which would reduce environmental
impact (Castano, Mendez &
Galindo, 2015).

PEST ANALYSIS
• Technological factors – The solar
tents would use advanced state
of the art technology for
manufacture. USB adaptors
would be provided for customers
to charge their devices. It would
run entirely on solar panels, the
working of which has been
explained in the next slide.

PORTER’S FIVE FORCES

MICRO ANALYSIS
STRENGTHS
• ECO FRIENDLY
• SOLAR ENERGY
• COST EFFECTIVE
• ADDS VALUE TO
CUSTOMERS
WEAKNESSES
• RELATIVELY
NEW IDEA
• COSTS
INVOLVED
HIGH
OPPORTUNITIES
• GROWING
INDUSTRY
• MARKET FOR ECO
FRIENDLY CAMPING
EQUIPMENT
EXPERIENCING A
BOOST IN THE PAST
FEW YEARS
THREATS
• THREATS FROM
NEW ENTRANTS,
SINCE A LARGE
NUMBER OF
COMPANIES ARE
VENTURING INTO
THE SAME FIELD.

MARKET TRENDS
• This market is expected to grow at a rate of 10-15% in the year
2018.
• This is due to increase of outdoor recreational activities, with
more and more people planning to choose hiking and camping
as ways of vacationing (Brooker & Joppe, 2013).
• Moreover, these tourists are also environment conscious. They
want their camping activities to be as environmentally
sustainable as possible (Caldicott, Scherrer & Jenkins, 2014).

Segmentation and marketing mix
PRODUCT
•ECO FRIENDLY SOLAR PANEL
POWERED TENTS WITH USB
ADAPTORS AND RENEWABLE
ENERGY SOURCES
PLACE
•THE PRODUCT WILL BE
MARKETED IN AUSTRALIA,
MAINLY TO TOURISTS AND
HIKERS.
PRICING
•THE PRICING STRATEGY WOULD
BE MODERATE TO HIGH, AND
WOULD DEPEND ON FACTORS
LIKE MATERIAL OF TENT,
PRODUCTS USED, RESOURCES
AVAILABLE AND SO ON.
PROMOTION
•AGGRESSIVE MARKETING WILL
BE USED TO PROMOTE THE
PRODUCT. SOCIAL MEDIA
MARKETING, EMAIL
ADVERTISING AND
PARTNERSHIPS WITH TRAVEL
AGENCIES WOULD HELP
PROMOTE THE PRODUCT.

BUDGET AND FINANCE
Summary Statement
Sources of Capital
Owners' and Other Investments $ 95,000
Bank Loans 10,000
Other Loans -
Total Source of Funds $ 105,000
Startup Expenses
Bldgs / Real Estate $ 32,000
Leasehold Improvements 2,000
Capital Equipment 10,000
Location / Admin Expenses 9,500
Opening Inventory -
Advertising / Promo Expenses 6,000
Other Expenses 50,000
Total Startup Expenses $ 319,500

CONCLUSION AND RECOMMENDATIONS
• A well developed marketing strategy would have to be
devised so as to effectively sell the product. This would be
done through social media platforms.
• Partnerships should be developed with travel agencies, so
as to promote word of mouth advertising.
• Attempts should be made to improve the technology
provided, so as to increase convenience of users.
• More features, like an eco friendly LED light or torch, should
be included to make it a wholesome package for customers.

REFERENCES:
• Berrone, P., Fosfuri, A., Gelabert, L., & Gomez Mejia, L. R. (2013). Necessity as the mother of ‘green’inventions:‐
Institutional pressures and environmental innovations. Strategic Management Journal, 34(8), 891-909.
• Brooker, E., & Joppe, M. (2013). Trends in camping and outdoor hospitality—An international review. Journal of
Outdoor Recreation and Tourism, 3, 1-6.
• Caldicott, R., Scherrer, P., & Jenkins, J. (2014). Freedom camping in Australia: current status, key stakeholders and
political debate. Annals of Leisure Research, 17(4), 417-442.
• Castaño, M. S., Méndez, M. T., & Galindo, M. Á. (2015). The effect of social, cultural, and economic factors on
entrepreneurship. Journal of Business Research, 68(7), 1496-1500.
• Chiu, Y. T. H., Lee, W. I., & Chen, T. H. (2014). Environmentally responsible behavior in ecotourism: Antecedents and
implications. Tourism management, 40, 321-329.
• Cleanenergyregulator. (2018). Retrieved from http://www.cleanenergyregulator.gov.au/About/Legislation-and-
regulations
• Drucker, P. (2014). Innovation and entrepreneurship. Routledge.
• Lee, T. M., Wong, Y. W., & Lin, E. Y. F. (2013). Energy conservation project: solar powered tent.

THANK YOU!