If you are using a 32-bit operating system, it is strongly possible that the executable file is developed for the purpose on running on 64-bit, not 32-bit thus causing the error. Or it might also be possible that your computer can't recognise the .exe file as a 32-bit file, thus failing to start the game.
Another possiblity is that your DirectX may be outdated, thus preventing the .exe file from running. If this is the case, you can find out how to download the latest DirectX (DirectX 11) here: http://support2.microsoft.com/kb/179113
In addition, a lot of cases might be that your antivirus firewall is blocking the game from running. If you have any antivirus program on, you might want to turn them off.