It is clear that companies need to know what is and what is not legal in order to trade successfully and ethically. Legal Factors: Although these factors may have some overlap with the political factors, they include more specific laws such as discrimination laws, antitrust laws, employment laws, consumer protection laws, copyright and patent laws, and health and safety laws.
Environmental Factors: These factors relate to the influence of the surrounding environment and the impact of ecological aspects.
Besides it really varies from industry to industry and from nation to nation how important certain factors are. Economic Factors These factors include inflation rates, interest rates, economic growth, exchange rates, unemployment rates, the disposable income of the consumer, etc.
Factors include interest rates, employment or unemployment rates, raw material costs and foreign exchange rates. The population trends like age distribution, income distribution, growth rate, career attitudes, safety emphasis, etc.
How much importance does culture has in the market and what are its determinants? These are all factors that need to be taken into account when assessing the attractiveness of a potential market.