A molded grip is used with a short club for two reasons: 1) to properly place your hands on the club; and 2), using a shorter club helps you to see the connection between the grip and the face of the club. The grip is one of the most abused fundamentals in golf because it truly is the only connection to the face and the golf ball.
You can see the connection of my target hand, in front, and my non-target hand netted close together. This molded grip gives you the correct feel so you can transfer that to your golf club.
Another good training tool is a yardstick. The yardstick provides you with the same feel as a molded grip in that when you actually grab the yardstick, it places your hands on the club in the correct position. You can see in the photo with both hands on the yardstick, they're netted close together, just as in the photo using the molded grip.
Dana Rader, LPGA, is the National President of the Ladies Professional Golf Association's (LPGA) Teaching & Club Professionals membership. She's the founder and owner of Dana Rader Golf School in Charlotte, N.C. Visit www.DanaRader.com.