Developing and assessment of a business plan for the supply of solar powered canopies in the Saudi Arabian market, leveraging the social needs to reduce carbon footprint and the local market needs and demands

Abstract

The world today is witnessing a strong desire to promote environmental protection, which is evident in the initiatives that have been taken by some governments worldwide to drive their populations to adopt products that are more environmentally friendly. Research has revealed that in Saudi Arabia there is a social attitude towards preserving the environment, as well as a demand for green products that are fed by renewable energy sources. Consequently, this dissertation seeks to develop and evaluate a business plan for offering customers in Saudi Arabia renewables-based products: solar-powered canopies that can be used as an alternative to conventional canopies. To assess potential customers' need for those canopies and identify the drivers that would prompt them to buy, five structured interviews were conducted with B2B customers. A survey was also created for B2C customers and was answered by 205 participants. The results suggest that both customer segments are willing to buy solar-powered canopies, given the desire to protect the environment, and because traditional canopies are ineffective in terms of their functionality, the costs associated with their installation and the monthly electricity expenditure. On this basis, it is recommended that potential entrepreneurs in Saudi Arabia start thinking about setting up renewables-based business ventures given the proven demand of customers there for affordable, practical and environmentally friendly products