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We Are The Market

By Martin Dei-Tutu
We Are The Market
LISTEN JAN 22, 2020

The fundamental aim of businesses, both multinationals and start-ups alike, is a relentless pursuit to make profit- a case which is generally linked to gaining significant market share. This acquisition of the largest share of any existing market in most industries basically implies owning the market and making most of the profits.

This explains to a large extent why businesses expend so much resources (money and energy) on undertaking numerous market research and surveys. A deliberate vital quest to understand the psychology of targeted markets to help these businesses propose optimal solutions that will suffice for the needs of the market and help them exchange the value of their solutions for money. The understanding of this vital criteria is also the reason why several books have been authored to propagate the notion that every business that seeks success must necessarily answer a first basic question of “what problem is the business trying to solve” before stepping out to start the business. Thus, until a business is solving a real problem that a market faces, the value of the business to the market is almost null.

Accordingly, at the crux of industrialization, the market most importantly amidst other secondary factors determines the fate (success or failure) of businesses and generally determines the direction of industry in a given geographic jurisdiction. This astounding power of the market can therefore not be treated lightly since it’s the drive for industry.

As a country, the Ghanaian populace must begin to understand and awaken to the reality that, collectively we are the market in our jurisdiction. We are the crux of industrialization in our region and the tremendous power that comes with this identification means we have the obligation to be responsible in the use of this power for our collective development. As the saying goes, ‘with great power comes great responsibility’, this power is not cheap, and neither should we treat it cheaply by the way we dispense it in terms of administering the responsibility of this power to achieve our pursuit of development as a people.

Since history has proven that development is largely linked to industrialization, we can be responsible to use our power as a market to grow and help establish our own indigenous businesses through directing our purchase power towards buying mainly made-in-Ghana products. What if we agree as a matter of discipline to individually commit to buy a made-in-Ghana product almost each time when we have to make the choice between two similar products when one is Ghanaian and the other foreign? Ghanaians can also deliberately decide to follow the footsteps of the participation of the markets in their patriotic move to create a ready market for indigenous products. Or rather, to continue to sit aloof and use our power ‘irresponsibly’ to empower other businesses that only exist, with the goal to make money for their country of origin to keep their development agenda on course.

The choice has always been ours to make, we can build the future we seek in the next 10 years, however, this buildup must be connected to our ruthless and consistent individual purchase of made-in-Ghana products.

You are very important to the change we all seek for, your power matters and the sooner you use this power the sooner we will achieve the future.

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