Legislation, Product Liability and Advertising: Dangerous Omens in the Global Environment

Abstract

Recent changes in the Soviet Union and Eastern Europe, combined with the changes in the European Economic Community have increased the pressures on our markets, our marketing system, and our legal system, as we try to factor in the necessary conditions for competing in the global economy. Marketing strategists must react to or try to anticipate changes in the marketing environment that are not under the control of the firm, especially those reflecting consumer trends, economic issues, and government policies that have a direct impact on competitive advantage. Survival in a global economy increasingly mandates that operations conform to the baseline requirements of all the potential markets for the firm's products. The need to maintain a level playing field among all the global competitors drives each nation desirous of receiving the fruits of global productivity to conform their economic environment to emerging standards.