The study investigated the perception of Business Management students towards the grey market industry. An extensive literature review on customer satisfaction, buyer behaviour and market segmentation was undertaken. The research instrument took the form of a questionnaire, using five-point likert scale questions, multiple rating list scale questions and dichotomous questions. The questions were distributed to a sample of ninety students. The study is based on fifty returned questionnaires. The descriptive statistics were generated using the SPSS software program. The study is concluded with recommendations, which Govan Mani may wish to consider during its strategic planning process. / Thesis (MBA)-University of Natal, 2003.