QUESTION 2 (Total marks = 25) (a) Read the following mini scenario and answer this question. What advice would you give the entrepreneur and how might the research be done? Elaborate your answer. (15 marks) Car security systems An entrepreneur has designed and developed an innovative new car alarm. The manufacturing cost is 2S but he feels that the device should be priced at around 190 in the domestic market. He sees little point in trying to sell it in developed markets, where the majority of cars are relatively new and love factory fitted alarms or immobiliers, or in trying to license it to car manufacturers His idea is to sell the alarm into emerging markets where there are likely to be more older cars but he feels he should carry out some research first to help him decide which market he should go for Source, Robin Lone QUESTION 2 (Total marks = 25) (a) Read the following mini scenario and answer this question. What advice would you give the entrepreneur and how might the research be done? Elaborate your answer. (15 marks) Car security systems An entrepreneur has designed and developed an innovative new car alarm. The manufacturing cost is 2S but he feels that the device should be priced at around 190 in the domestic market. He sees little point in trying to sell it in developed markets, where the majority of cars are relatively new and love factory fitted alarms or immobiliers, or in trying to license it to car manufacturers His idea is to sell the alarm into emerging markets where there are likely to be more older cars but he feels he should carry out some research first to help him decide which market he should go for Source, Robin Lone