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.The "dream lure for the 21ˢᵗ century will more than likely be an example of a(n) :
A) new product line
B) addition to existing product line
C) discontinuous innovation
D) improvement to existing product
E) repositioned product
Correct Answer:
Verified
Q152: The pedometer is getting kicked up a
Q153: Finland-based Rapala VMC Corporation is the world's
Q154: Going to the Dogs
Demand for pet services
Q155: Finland-based Rapala VMC Corporation is the world's
Q156: Finland-based Rapala VMC Corporation is the world's
Q158: The marketing manager for a company that
Q159: Going to the Dogs
Demand for pet services
Q160: Finland-based Rapala VMC Corporation is the world's
Q161: After successful business analysis of a new
Q162: What is the final stage in the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents