Finland-Based Rapala VMC Corporation Is the World's Largest Fishing Lure

question 77

Multiple Choice

Finland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer.It developed its first fishing lure--a cigar-shaped minnow--in 1962.The annual market for fishing lures in terms of retail sales is approximately $600 million.Rapala VMC garnered one-third of that amount in 2008.New lures must be introduced each year in order to stay competitive in this industry.Like other lure manufacturers,Rapala focuses on two questions in developing and making new lures: Does it work,and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides.At the annual fishing industry trade show in 2008,Rapala unveiled the "dream lure for the 21ˢᵗ century."
-Refer to Rapala.Fishing lures are most likely in the _____ stage of their product life cycle.

• A) saturation
• B) maturity
• C) growth
• D) innovation
• E) decline

---

Definitions:

Intrapsychic

Pertaining to processes within an individual's mind or self.

Locus of Control

A psychological concept that refers to the extent to which individuals believe they have control over the events that affect their lives.

Locus of Responsibility

Refers to the perception of where responsibility lies, whether within oneself or externally, for one's actions or life circumstances.

Northern European American

Refers to people in the United States who are descendants of immigrants from Northern Europe or identify with cultures from that region.