02:Identify and explain two advantages of market research to Grimshaw.[4]
Posted: Fri Jan 16, 2026 9:50 am
Grimshaw manufactures mobile (cell) phones for the mass market. Last year its market share increased by 3%. The Managing Director is planning to set up a new factory in country T to supply the mobile phone market in that country for the first time. Grimshaw plans to sell a new model of mobile phone. The Managing Director has asked for market research to be done. He said: ‘As a multinational, we can set up a new factory anywhere; I want to know whether the Government of country T will offer us any help to build our factory there.’
02:Identify and explain two advantages of market research to Grimshaw.[4]
Possible KN Points:
>greater awareness of consumer needs.
>able to forecast likely future trends.
>appreciate the strength of competitors.
>knowledge of consumers’ views of company products/image.
>reduces risks/products launched with more confidence.
02:Identify and explain two advantages of market research to Grimshaw.[4]
Possible KN Points:
>greater awareness of consumer needs.
>able to forecast likely future trends.
>appreciate the strength of competitors.
>knowledge of consumers’ views of company products/image.
>reduces risks/products launched with more confidence.