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Practice Business Report for the Miller Denim Co

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Business report for The Miller Denim Co.
Executive Summary
This business report for The Miller Denim Co. addresses the external factors that could influence customer choice, global factors that could assist them in their operation to achieve its primary goals of profit maximisation and improving market share and providing an effective strategy in overcoming resistance to change.
Customer choice
Factors that could influence customer choice could include economic influences and government influences
1. Economic influences
Economic influences have enormous impacts on both businesses and customers. It influences a business's capacity to compete and a customer's willingness and ability to spend.
Economic influences can be either boom, or recession.
A boom is a period on the business cycle where job security is high, unemployment is low and there is rising incomes. Due to job security being high, customers are much more likely to spend.
A recession is a period on the business cycle where job security is low, unemployment is high and declining incomes. Customers are much more resistant to spend as their job security is low and businesses are resistant to spend as they do not have full confidence in the economy.
2.Government influences
Government influences may affect a business with the laws they enforce. This may influence business activity and consumer spending habits with the laws they enforce according to the level of economic activity.
Laws that the government sets can significantly influence the marketing activities of a business because breaking these laws may result in financial penalties.
Global factors
Global factors can assist The Miller Denim Co. in their operation to achieve primary goals of profit maximisation and improvement in market share.
These factors could include economies of scale and global sourcing
1. Economies of scale
Economies of

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