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Letter of Transmittal

Essay by   •  February 10, 2013  •  Research Paper  •  2,599 Words (11 Pages)  •  1,413 Views

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Enclosed is the report you requested in regards to my proposal of Rockford Outfitters branching out into the international market with the consideration of opening a franchise in the city of Tromsø, Norway.

My research covered a few areas that are important when considering expanding our company and attempting to gain a foothold in the Global Market. I researched the location based upon our product line and the major industries of that area. My research will show that the Norwegian economy has been very stable while those of the US and other major European countries have taken a drastic turn for the worse. A quick search of the local businesses indicated that there is no local competition in Tromsø that offers the same product that we do. This was the main deciding factor in my proposal to expand Rockford Outfitters into Tromsø, Norway.

The resources used for this project were all online. My first source was the CIA Factbook which opened my eyes to the culture and economy. For business relations I accessed Expat Arrivals who have done extensive research on international business relations. I also contacted the Troms Chamber of Commerce who were very cordial in answering questions and providing more information in regards to our product line. They are very excited about this business opportunity.

I personally want to thank you for giving me this opportunity. This opportunity has opened my eyes to the prospect of International Business as well as a more broadened knowledge base of Rockford Outfitters. If there are any questions, concerns or anything I can expound on regarding my findings, please contact me.

Sincerely,

John Steiner

Rockford Outfitters Representative

cc: Jonathan Monroe, Vice President, Human Resource Department

VELKOMMEN TIL NORGE

Rockford Outfitters Expansion into Norway

Executive Summary

After proving ourselves to be extremely competitive and successful in the United States, Rockford Outfitters In an attempt to broaden the scope of Rockford Outfitters' clientele, we should branch out to Tromsø, Norway. Tromsø is located in the northern part Norway, approximately 250 miles north of the Arctic Circle. It is home to about

The following research shows the potential in making this adventure profitable. The first takeaway is the fact that there is relatively no competition. A quick search of the local businesses indicated no other companies that provide the same type or product line that Rockford Outfitters can. The second consideration is the ease at which we should transition into their culture. They believe in equality amongst all people which is the same business attitude that we preach amongst our employees. Finally, the procedure to establish a business in Norway is as easy as registering with their central registrar. Once this has been accomplished setting up a business is the same as here in the United States.

To ensure a smooth transition, I recommend the following:

1. Open an outlet in the business district of Tromsø. Bringing Rockford Outfitters to the Troms area is a win-win situation for everyone. The residents of Tromsø, to include the large working class, will benefit from a one-stop outdoor clothing and accessories store in their area....a First for Tromsø. We also benefit from this experience by broadening our customer base and bringing our products to the international market.

* Open a medium-sized store on the edge of the major shopping district.

* Man the store with both American and Norwegian employees. It would be best to make the general manager one of our star employees as well as hire a local manager to assist with the day-to-day operations.

* Hire a Norwegian marketing specialist to fully take advantage of the local culture

2. Monitor operations over a period of twelve months. This will give us a great indication of how things are coming along as well as cover the seasonal changes.

* Solicit the local community for feedback regarding the store and its products.

* If the store is making the desired progress, consider opening sister stores in other cities on mainland Norway.

3. If successful after a year, set a long-term observation period of three to five years.

* If we are truly successful in this Norwegian market we can consider expanding our company into the neighboring Scandinavian countries of Finland and Sweden.

* Consider partnering up with other European nation companies and market their products.

Introduction

In an effort to put Rockford Outfitters in the International Market, I propose that we consider branching out into Norway. Specifically, the historic city of Tromsø, a northern city located on the beautiful fjord Kvoloya. The following report contains data that reflects the potential of this location for our line of products.

Purpose and Scope

There is no doubt that Rockford Outfitters has proven itself to be a successful company within the United States. In order for us to not lose our drive and edge on competition, we need to take that next step and consider the Global Market. I believe our first step should be establishing a presence in the country of Norway.

This report covers a few topics that are important in pursuing this idea. I have provided some information in the following fields; location, culture, economic and legal concerns, market possibilities and competition and concluded with some recommendations.

Assumptions

My assumption is that Rockford Outfitters has reached a point in its life where we are economically capable of branching out and offering our products on the Global Market. After researching the economic state of Norway, it is my belief that their economy will continue to flourish and provide us the stability needed to take on an international business adventure.

Methods

All of the information contained within this report was obtained from various sites found on the intSteinert. I found the Kwintessential and Statistics Norway website to be extremely valuable in during this research project and feel that they contributed a great deal in solidifying

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