Volume 10, Issue 10, October – 2025 International Journal of Innovative Science and Research Technology

ISSN No:-2456-2165 https://doi.org/10.38124/ijisrt/25oct1239

A Market in African Context

J.T. Tetteh-Quaynor1; David Laud Amenyo Fiase2
1,2
Regent University College of Science and Technology – Mccarthy-Hill Accra Ghana

Publication Date: 2025/11/04

Abstract: Every academic discipline ends up with the transactional or business aspect before profit is declared or derived. In
this article, the author studied several academic articles, textbooks, research reports, and conference reports but concluded that
the term ‘market’ has not been given a well-defined consideration. In an effort to bring to the academic world the image and
contextual presentation of the term, the author selected this topic of market but in the African context. The article contained
the background of the study, the problem statement, and selected/designed research objectives: to find out what is a market, to
find out the market in African and Ghanaian contexts, to find out the difference between the market in textbooks and that in
the Ghanaian context, to present the finding of what constitutes a market in the Ghanaian context. With little literature to
review the author did review, the available ones. He participated in more than fifty markets within the Ghanaian Geographical
area before presenting his findings and conclusion. Definition of a market in the Ghanaian context, pricing in the Ghanaian
market, sale promotion are more personal, persuasive, no advertising in real sense but mainly face to face, suppliers are from
varying sources but regular. Financing is from mainly micro-financial sources and not from any recognized bank. The research
methodology for this article was mainly participation and interview of traders in the selected market.

Keywords: Market; Marketing; Commodities; Customers; Microfinance; Profit.

How to Cite: J.T. Tetteh-Quaynor; David Laud Amenyo Fiase (2025) A Market in African Context.
International Journal of Innovative Science and Research Technology, 10(10), 2248-2253.
https://doi.org/10.38124/ijisrt/25oct1239

I. INTRODUCTION  There is the study of what constitutes a market; thus an

effective arrangement to bring in buyers and sellers together
The study of marketing as a course of study, a profession, (Kotler 2018), (Jobber 2020)
and an academic discipline is composed of a comprehensive  A market could be described as an array of contacting
course outline. sections to create an interaction between buyers and sellers
of a particular commodity (Jobber 2018, 2020)
The study of marketing is reflected in certain academic  The above definitions are correct in their own context and
disciplines such as Administration, Management, Banking and perspective but lack variety and further studies. In the
Finance, Actual Sciences, Engineering Management, etc. academic context, it’s enough but it lacks global contextual
and content value.
The course area of marketing is broadened with certain  One would woefully enquire whether the aforementioned
contemporary sciences, and terminologies to boast its practices definitions do apply to every corner and cranny of the
and content. international fraternity. The answer is no!!!
Topics such as Artificial Intelligence in marketing, social  The consequential enquiry is the core essence of this article
marketing, electronic marketing, brand image building, etc. where one would desire to narrow the view point of the
have been inculcated into the recent study of marketing. marketing camera to the concept of a “MARKET” in the
Ghanaian context and in the African context.
International marketing for instance involves inter-  The content of this topical area is being emphasized on
country merchandising; global marketing; the International small and medium-sized businesses as against that of multi-
Monetary Fund; International Bank for Reconstruction and national corporations.
Development – (World Bank); Economic blocs eg. ECOWAS,
 The reason is not far from the explanation that the real
European Union (EU) South Eastern Asian Trade Union pragmatic concern of this article is about small and medium-
(SEATLE), and many more.
sized enterprises and where their interaction for the
merchandise and other business interactions.

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Volume 10, Issue 10, October – 2025 International Journal of Innovative Science and Research Technology
ISSN No:-2456-2165 https://doi.org/10.38124/ijisrt/25oct1239

 The multi-national corporations do follow strictly the  Brief History

academic practicing/practice of what is a market – but not  Marketing has taken place in all the historical eras of
what is the market in the Ghanaian context. trading.
 It’s very necessary and current to give the term MARKET a  During the pre-historical era-individuals do involve in
new dimension and in the Ghanaian context but also limited barter trade between themselves and other ones in other
to the small and medium size businesses within the smaller towns. (Kotler 2018).
Ghanaian context.  The classical Era of 1880 to the 1930s also encountered
more glorified trade the use of horses, camels, cannons,
 Retail Business runners announced the arrival of ships in harbors, etc. were
One can refer to such level of trading as petty traders as introduced into the trading activities in Europe, North, and
the business has little international connection. No heavy South America.
industrial trading (commodities) is involved.  Meanwhile, trans-Sahara trade and business were
flourishing between North Africa and West Africa; between
Advertising Agencies are less involved in the practice as portions of East Africa and Egypt through to Europe.
only a few shops do undertake or use advertising and  During the Neo-Classical Era of 1930 – 1960, the witness
advertising Agencies in this dispensation. of certain electronic gadgets, automobile, high advertising
practices, printing; international trade; qualify and not mass
 Problem Statement produced products, change in consumer choice the issue of
How is the Ghanaian on the street without training marketing of industrial and domestic commodity moved to
knowledge in Marketing, Advertising, brand image building, another level.
banking and Finance, Management, and Administration do  The modern-day practices and study of marketing have seen
consider as a “market”? How does the marketing and a market more complex but tactical/strategic marketing to meet the
conducted in Ghana being considered in the academic and other complex nature of the computerized consumer.
scholarly organized section?  The study of marketing in the millennium – 2000 – 2024 has
revealed a tremendous increase in foreign commodities, and
Are other scholars in business, administration, marketing an increase in Electronic business as against face-to-face
aware of the style, system or form of MARKET in the Ghanaian marketing (Jobber 2020).
contextual exigencies?  Marketing has migrated to a more complex dimension in
context, content, and practice in general.
 In the African context, a market goes beyond the meeting or
Aside from the definition do other marketing and market
interaction point between buyers and sellers but the name of
variables in the Ghanaian context conform to acceptable
the meeting place for the marketing practice.
academic consequences in the educational fraternity?
 In Ghana – there is the “Makola” – market – in Accra and,
the “Mallam” Attah – market – in Accra.
We stand to be informed by this article in the subsequent
 “Kaneshie” Market – Kaneshie – Accra, “Asafo” Kumasi
chapters on how best to provide a comprehensive, analytical
Market, Ho – Central Market -Ho Volta Region, “Ahafo
presentation of convincing answers to these identified
challenges of what constitute a market in the Ghanaian context. market – Brong Ahafo Region, Katamanto Market – Accra,
. Kotobroba – Cape Coast Central Region, “Mankessim –
Mankesing Market – Central Region, Ejumako – Central
Region, “Aflao Market – Aflao – Volta Region and
A problem statement indicates or portrays the problems
identified by the author which resulted in the choice of this Bawjuasi – Central Region
particular research topic to enquire and provide the requisite  In Nigeria – there is the Lagos market: Lagos market – Ijo
solutions to the identified challenges. – Lagos, Ijora Market – Lagos – Nigeria, Abeokuta Market
– Abeokuta Nigeria;
II. LITERATURE REVIEW  In Togo – there is the (Grand Marche – Lome – Republic of
Togo)
A MARKET is an arrangement put in place to bring  In all these types of markets, the setting or the place where
buyers and sellers together. (Kotler and Armstrong 2018.) the trading is taking place is the name of the market:
There have been many more definitions but did the writers of Kaneshie Market is at Kaneshie, Makola Market is a Makola
these definitions consider the definition and explanation of the in Accra, Asafo market in Asafo in Brong Ahafo Region of
terminology in other ethical consideration or evaluation? Ghana

What does a market comprise in an African or Ghanaian

marketing context?

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Volume 10, Issue 10, October – 2025 International Journal of Innovative Science and Research Technology
ISSN No:-2456-2165 https://doi.org/10.38124/ijisrt/25oct1239

III. INTERVIEW REPORT  Source of Supply

The seller normally has multiple sources of the
An interview report provided by some of the marketers of commodity, different suppliers but reliable ones. It can be local
African markets like Nigeria, Gambia etc gave the definition of or international source but it must be regular, dependable and
a market as a market is a place where buyers and sellers meet better price of the commodities.
to transact business or merchandise or trade in a particular
setting, town, or place. Therefore, the market is not only a place  Bargaining
for buyers and sellers to meet but also the setting, the town the In the African market price were bargained for the
place where the business and the transaction takes place. So the reduction in price or an increase in the amount or quantity of
market is named after the town in which the said business the commodity being bought.
transactions takes place e.g. Salaga market, Lagos market –
Ijora market. It is not named after the commodity but the town  Market Days
in which the building is located. Special days were set aside as market days for each market
 In such places, variety of commodities were traded in as – it can be twice in a week – But Saturdays are for almost every
against an individual commodity market. market.
 Commodities range from food and beverages, drinks:
alcohol and non-alcoholic drinks, clothing and textiles;  Business
shoes, bags, and leather wares, precious metals; gold, and  Business is mainly face-to-face. There is no electronic sale
diamond rings, sports wares, bicycles, phones, domestic business under the MARKET in context.
electronic and electrical items plastic bowls and containers.  Business is mainly face-to-face with little credit facilities
 Through interactions, interviews, observation, and from attached sellers (suppliers).
answered questionnaires, it was observed or captured that
smaller items are traded in most of these markets.  Market Queens and Presidents
 Smaller items such as the aforementioned commodities but Various products have a leader called Queen (female) or
one could not encounter the sale of heavy industrial (President – male)
machines, equipment and tools such as airplane,
submarines, Industrial plans, and real estates were not sold Some market queens and presidents have taken it upon
in such markets. These are the reasons why this articles themselves to be agents within the market. You need to inform
narrowed it investigative narrative to small and medium them about the amount, type, or form of products you need.
enterprise trading commodities. They would buy the requested items – transport them to your
 These commodities are carried along in carrier bags. Those office, home closely related place to you. You then send them
customers with vehicles have their wares packed into their the amount involved through the” momo” or electronic
car booth. One can site example of “MERCORAR” – Latin payment. You are prevented from leaving the office, or
America’s largest planned common market. It was formed workplace to buy your food items to cook for the family at the
on 26th March 1991 by Government from Brazil, Argentina, end of the week.
Uruguay and Paraguay – Bradley (2018).
 It is imperative to note that each commodity traded in such Less industrialized as far less or no industrial tools,
markets do have a queen mother or president (male) leader equipment or industrial size plants were traded in such markets.
who regulates and promote the traders – interested in that Industrial size machines are sold in a secluded places not in
particular commodity. These queen mothers (female) or such markets. Its relationship include business, at all-time .No
president (male) leaders were voted into power for a specific provocation whatsoever. Friendliness between seller and buyer
number of years, according to their constitution or choice. at any given time.
The cartel style of business cannot be ruled out.
 The queen mother or president do not determine the price of IV. CASH TRANSACTION
each commodity or item for trading. The price depends on
individual’s infusion and proclamation to survive in the Considering the volume of trade and business, most
trading or business activities. business transactions were done on cash basis. Little or no
 Advertising is on the limited or absent for such businesses banking transactions in payment. However, business owners
or market. Buyers go to the side of the market for the sale do keep their sales in banks.
of a particular commodity.  Payment is mainly by cash. Electronic payment is far less
 Customer retention depends on excellent seller’s personal or not at all on these markets. With the influence of the
relationship, ability to increase the quantity of commodity electronic payment system by the telecommunications,
or in effect apply a new sales promotion tactics to promote companies such; Telecel, MTN, Airtel-Tigo etc.
and retain the customer. You need to arouse the taste,  Profit derivation is raft and swift. With far less business
desire, or choice to sell and retain customers at all times of transactions, business owners could easily compute and
the business within the marketing process. redeem their profit with less fatigue. Profit derivation is so

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Volume 10, Issue 10, October – 2025 International Journal of Innovative Science and Research Technology
ISSN No:-2456-2165 https://doi.org/10.38124/ijisrt/25oct1239

simple and easy that one does not have to hire the services  More affluent ones buy bulk and break them down into
of a chartered accountant to prepare the trading accounts single items for sale.
before one realizes his/her company's profit.
 Price
 Business is Limited to a Small Area Overage It’s strange that without any training in marketing,
One could envisage a particular product being undertaken marketers do design prices in conformity to inflectional or
by a family over decades in the same spot, product, or service – currency value fluctuates at any moment.
they have survived profitably.
 Location
 No partnership In Ghana, most markets are located within the locality,
Due to the size and comfort of the business, no partnership metropolitan area, capital city, regional or national capital.
was observed in the market. Its individual sales and business.
 Inside/Outside
 Financing Inside each of the market were location of particular group
Such level of business or trading activities were conducted of goods or items or commodities. For example going to find
based on funds from ones efforts, family support, or from the tomatoes, lettuce, pepper, onions, spices, etc. located in say the
family’s continuation of a particular business. Southeastern portion of the end of the market; belts, bags,
jackets, hats, shoes, scandals in the leather products unit of the
There is no banking and financial support from any market – may be found in the North Eastern portion; Second-
financial institution of repute. In recent times and with the hand clothing, second-hand bags, shirts, suits, trousers, skirts
advent of the micro financial institutions support, some do go blouse, tie, brassier, bed sheets, wine, whiskey, sugar drinks,
for small working (soft) loans to support, their trading beverages in the Central portion of the store or shop within the
activities: such loans usually attract 20%, 12% interest rating market.
on each loan which makes its repayment extremely difficult for
the loan collector when businesses fail.  Still inside the market, there are various toilets, urinals;
clinics and possibly a station police.
There are the “susu”-collectors who do conduct daily  Inside the market are restaurants known as “chop bars”.
premium payments from each trader. The collected amount is One can buy any alcoholic and non-alcoholic drink to cool
a day’s payment but the rest were paid back to the trader or down in any of the few restaurants.
client at the end of the month. The collector's interest is a day’s  These are head porters who are always around to assist in
contribution. transporting a buyers purchased good from the seller to the
means of transport (vehicle, car near the “Trotro” station).
 No Insurance  One hardly finds trawlers around for use to convey
Most traders in such marketplaces do not have or purchased items from the seller to the buyer’s car, truck or
undertake insurance coverage for their products. It’s sad but means of transport outside the market.
that’s what pertains now in the market.  Offices of small insurance companies, Susu Group, loan and
 Smaller offices kiosks, shops, and stores is their main salary advances smaller firms are located within the
operating points. Some even trade with their products or a Ghanaian market.
heavy wooden carved trade – “Apaawa” or “trainee” – flat  Outside the market is an area earmarked for commercial and
metal plate to carry and sell the items, wares or products private vehicular car park. Taxi or car station.
 Some few ones do have insurance coverage but the majority  There are a number of drinking bars; hotels, guest houses,
do not have one. for night check in and resting.
 Clinics are found in both inside and outside the market.
 Training
 A police station is established inside or outside the market
Between 60% - 75% of respondents have not had any
to check and regulate human reactions, respect to the law on
training in trading or business management? Some are
trade and business and the constitution. Those who are
continuing family traits / trade.
found culpable were sentenced to the law court for
arbitration and judgments. The guilty once were sentenced
 Commodities
to jail or fine a certain amount of money or both.
 Commodities are mainly locally produced; imported items
 Money transfer units are littered around to ease and assist in
are few. They are retailing size of simple product selling
transfer payment of some bought items (called provision in
business.
Ghanaian context). The money is transferred through any of
 No wholesaling, mainly retailing. There is the product
agent of any of the telecommunication companies such as
market where particular products are only sold. (Bradley
MTN, AirtelTigo, Telecel or Glo.
1995).

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Volume 10, Issue 10, October – 2025 International Journal of Innovative Science and Research Technology
ISSN No:-2456-2165 https://doi.org/10.38124/ijisrt/25oct1239

 There is a sale promotion such as a reduction in price – VI. CONCLUSION

through bargaining, an increase in the number of quality
products, and items, a conversation for you to return for a From the aforementioned premise one can woefully draw
better deal next time. A clap is provided to you when you up conclusion as such:
recommend the seller to another friend.  Market in Ghana are not named after the commodities /
commodity being traded in but after the town where the
 Daily Tools business takes place. Eg. Makola Market – in Makola
Daily tools are collected from non-store owners by the Kaneshie Market in Accra – in Kaneshie in Accra.
management of the market. The money is mainly paid to the  Trading is conducted not electronically but face to face with
Internal Revenue Service of the Government. Some portion of little or no electronic payment.
the tools collected were paid to the chiefs of the town allotted  Pricing of commodity was determined based on the
for the market. inflationary rate, value of the local currency, forces of
demand and supply, price of other competing commodities.
V. FINDINGS  There are no mediums of advertising. Every transaction is
face-to-face in the Ghanaian market.
 From the above premises of participation, interview, and  No financial support from banks. Financial assistance is
questioning one can clearly state that the market in the mainly from personal contributions or micro–financial
Ghanaian context is named after the town where the trading institutions. Not from a recognized bank.
takes place and not the commodity being merchandised or  There are market days. These days really afforded
traded in by consumers, customers, and sellers or traders. opportunity to interview, interacts, with most traders and
E.g. “Makola” – Market at Makola in Accra – Ghana and most buyers.
not cocoa market nor the sugar market.  Most respondents 60% to 70% have had no training in
 Trading is mainly / mostly face-to-face with little or no marketing, business management, economics or banking or
electronic payment on a larger scale. administration. Yet they do conduct their trading
 Pricing of products were determine based on the inflationary excellently. Maximizing profit without challenges, or even
rate, value of the currency and the forces of demand and when the season fluctuates into deemed schedules.
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ISSN No:-2456-2165 https://doi.org/10.38124/ijisrt/25oct1239

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