The chapter seeks to discuss and describe the concept of product from the marketing perspective, how companies come about new product, product development options, and the various strategies available to a company to manage new and existing products. It is a conceptual paper which reviews relevant literatures from various sources. In essence, the proposed chapter will be divided into three main sections. Section 1 will introduce the concept of product, its meaning, and core components from the marketing point of view. It will also contain discussion on the various connotations of the term product, what constitute a new product, and new product adoption. Section 2 will dwell on the options available to a company on how to come up with new products including mergers, acquisition, and licensing, franchising, and proactive new product development. It will also explain the two product development strategies that companies adopt in the market place. The last section will discuss the product management strategies available to a firm either from the product life cycle way or the individual product management strategies or both. At the end, conclusions and the general context of the paper are drawn.
The incessant complaints by civil society organizations and the general public in Nigeria against exploitative charges by tour operators and travel agencies on hapless Hajj and Umrah pilgrims call for careful examination. Previously, some of these unscrupulous tour operators have hidden under the excuse of the high cost of visas to charge exorbitant fees. However, with the recent clarification from the Saudi Arabian Embassy in Nigeria that both Hajj and Umrah visas are free, it is clear that some travel agencies have been exploiting Nigerian pilgrims. This chapter is conducted in order to address this issue. Consequently, the chapter attempts to provide relevant insights on Islamic tourism in Nigeria with specific emphasis on the reasons behind the high cost and variations in the prices of Umra packages among travel agencies in Kano State of Nigeria. It is an exploratory study that uses a qualitative approach through in-depth interviews with senior officers of selected travel agencies in Kano. Findings from the study reveal that Umra pilgrims in Kano pay higher and different fares. It has also been established that there are variations in Umra prices due to some direct and indirect factors that determine Umra package fares. Consequently, it is recommended that there is a need for the National Hajj Commission of Nigeria (NAHCON) to properly regulate Umra pilgrimage like that of Hajj and to embark on an aggressive enlightenment campaign to educate potential and present Umra pilgrims on the necessary factors that affect the price of a typical Umra package and how they can identify a registered travel agency from a quack one so as to protect themselves against undue exploitation.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.