1. When developing market knowledge, it is essential to have an awareness of how the market is divided. Explain each of the following segments of the market. Provide examples of how each segment can influence customer choices and trends.
Demographic segmentation
Geographic segmentation Psychographic segmentation Behavioural segmentation
2. Why is it crucial for a manager to have in-depth knowledge of internal and external business environments to provide quality customer service?
Provide 2 examples each, for internal and external factors: