Professor Abednego Feehi Okoe Amartey, Vice Chancellor, University of Professional Studies, Accra, has urged the government to use marketing as a transformative tool to speed up the economic recovery of the country.
He said, when applied professionally, marketing could play a central role to revitalise the economy and help businesses emerge stronger from challenging times.
“Let us embrace marketing as a powerful instrument of change. By doing so, we can foster economic recovery, enhance the resilience of our economy and our businesses, and pave the way for a brighter and more prosperous future Ghana,” Prof Amartey said.
He said this as the Guest of Honour at the 34th Annual National Marketing Performance Awards, organised by the Chartered Institute of Marketing, Ghana (CIMG).
This year’s edition was on the theme “Marketing: A Tool for Economic Recovery”.
Prof Amartey said the government could use marketing for economic recovery by strategically promoting domestic tourism, attracting foreign direct investments, and promoting crucial industries.
It could also provide marketing support to small and medium-sized enterprises.
He said “Visit Japan Campaign”, “Invest in Greece”, “Dubai Expo 2020”, “Brand Jamaica” and Spain’s “Rebirth of the City”, were marketing strategies used by such countries to revive their economies.
Prof Amartey said using marketing as a tool for economic recovery came with obstacles that government must overcome to ensure successful recovery.
The challenges include budget constraints, changes in consumer behaviour, market saturation, digital noise, and global competition.
Other challenges are sustainability and ethical concerns, measuring returns on investment and adapting to new technologies
“Addressing these challenges requires careful planning, strategic thinking, and a willingness to adapt to evolving economic conditions and consumer preferences,” Prof Amartey stated.
Mr David Afflu, Chief Executive Officer, GB Foods won the 2022 Marketing Man of the Year whilst Mrs. Patricia Obo-Nai, Chief Executive Officer, Vodafone Ghana won the Marketing Woman of the Year 2022.
The Marketing Practitioner of the Year 2022 went to Nana Essilfuah Tamakloe, Director, Marketing and Corporate Affairs, Absa Bank.
Priscilla Mawuse Menka and Agnes Narkie Odonkor were both adjudged the Marketing Student of the Year 2022.
The Annual National Marketing Performance Awards is to create awareness on the importance of marketing, promote high professional standards and excellence among practitioners, engender healthy competition among organisations, and ensure high quality business products and services.