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

question 20

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 2003.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 VMC Corporation.What will the "dream lure for the 21st century" more than likely be an example of?

• A)a new product line
• B)an addition to the existing product line
• C)a discontinuous innovation
• D)a repositioned product

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Definitions:

Electronic Note

A digital form of a promissory note or loan agreement, legally binding and used in financial transactions.

Negotiable Instrument

A documented promise to pay a certain sum of money, either when asked for or at a predetermined date.

Uniform Electronic Transactions Act

A legal framework adopted by some states that equates electronic signatures and records with paper ones, facilitating e-commerce and digital contracts.

Indorse

Indorse is an alternative spelling of endorse, typically referring to the act of signing the back of a negotiable instrument to make it payable to someone other than the designated payee.