Solved

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

question 62

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.In which stage of their product life cycle are fishing lures most likely to be?

Definitions:

S&P/TSX Index

The S&P/TSX Index is a stock market index that tracks the performance of the largest companies listed on the Toronto Stock Exchange in Canada.

Trade Discount

A reduction in the listed price of a product or service, offered by sellers to buyers in the same trade or industry.

Car Dealer

A business that specializes in selling new or used vehicles to consumers, often offering financing and trade-in options.

Manufacturer's List Price

The recommended selling price of a product set by the manufacturer, before any discounts or allowances are applied.