Question

how legal and regulatory forces influence marketing strategy

Answer 1

LEGAL AND REGULATORY FACTORS INFLUENCING MARKETING STRATEGY

Legal factors affecting business include all regulatory and law determinants that can negatively or positively affect results of market actions and decisions of management of company functioning in particular country. International companies must analyze and identify those factors (legal environment) independently for every state they function.

The business legal environment plays a very important role in determining the success of any businesses around the globe. The government taxes that are being imposed among other regulatory measures help to promote economic growth and to protect consumers from exploitation and other illegal factors. It is important to understand the role of regional tax measures, legal factors affecting business and regulatory measures in the determination of how your business is affected. Another measure to help your business adapt to legal issues in its environment is the understanding of regulatory measures and to account for all your regional economic analysis.

The company should understand the legal measures it wants to follow inorder to capture a market. Otherwise it will not survive. Different countries have different regulations. So a market study is necessary before entering in to a market.