International Business - Overseas Market Entry Actions Essay

International Business - Overseas Market Entry Actions - Essay Example However, the cosmetics industry in Iceland has escaped most of the fallout resulting from financial market collapse in the country, which has opened up internationalization as a viable strategic objective. This paper will focus on Blue Lagoon Cosmetics Company and its potential entry into the Kuwaiti market, including the most viable international business strategy, its marketing actions, and appropriate organizational structure. In order to do this, the paper will use literature studies on international business strategy and apply theoretical models to the entry of Blue Lagoon into Kuwait. Blue Lagoon was started in 1976 as a way to take advantage of a geothermal plant constructed in the Reykjanes-peninsula. The geothermal plant produces water rich in natural minerals that are also integrated into the white silica clay on land, which Blue Lagoon collects and sells as cosmetic products (Icelandnaturally.com, 2013: p1). Blue Lagoon Ltd. was established in 1992 due to the popularity of its warm spa water, after which bathing facilities were opened in 1999, which made it one of the most popular tourist destinations in Iceland with at least 70% of all tourists visiting Iceland also visiting the Blue Lagoon. The company has three state-of-the-art geothermal spa facilities, which host restaurants, conference rooms, an indoor pool, and modern changing and shower rooms. In addition, Silica mud is also part of the company’s assets, in which visitors can bathe. Blue Lagoon has dedicated its activities to developing the health of visitors, building on the presence of geoth ermal water that contains blue-green algae, silica, and salt (Icelandnaturally.com, 2013: p1). The company began producing skincare products as Blue Lagoon Iceland made of unique chemicals, which were first marketed in the late 90s. In the early part of the 2000s, they launched