Legal and government regulations can greatly affect a company's pricing policy. They can set minimum or maximum prices for certain goods or services, impose taxes or tariffs, and set standards for pricing transparency and fairness. Companies must comply with these regulations or face penalties, which can include fines and even the revocation of their business license. Therefore, when setting their pricing policies, companies must take into account not only market factors like supply and demand and competition, but also any relevant legal and government regulations.
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