Could this innovator hold solution to Kenya’s problems?

Kenya: Imagine buying an item and redeeming points on every item you buy, whereby the redeemed points form a fund through a share certificate that is later is used to develop the country.

A marketer has unveiled an application that converts redeemable points into such a fund.

Jacob Kioko, a professional marketer, innovator and copyright owner of a marketing innovation named Dichotomous Universal Growth Web Innovation (DUGWI) says the innovation will spur development.

“I know that whereas businesses are profit driven, society is value driven. The relationship between the two parties is dichotomous - headed in opposite directions - explaining the naming of the innovation,” says Jacob.

Jacob explains that the innovation seeks to bridge the gap between society and business. The innovation uses internal trade as the medium to induce and harness voluntary economic efforts of the society and business to raise funds for financing national economic development.

This, he says will enhance business profitability and growth.

 How the innovation works

The application works on double-inducement or retainer incentives. A partnership between society and business is cultivated to have the two parties supporting and marketing each other, then sharing economic benefits accruing from the pact.

For instance, supermarkets and shops have points offers for their customers when they buy a product and when the points accrue, they are awarded a shopping voucher or even a travel getaway. However, this is set to change if this marketer’s idea of converting those points into a fund is adopted.

The innovation is based on retainer incentives. This is where a partnership exists between society and business. “The starting point of the implementation of this innovation is the development of a mother business corporation named the National Economic Cradle Corporation (NECC).

“NECC will look at the total national population as its target market and offer its customers a retainer incentive for every product purchased for daily personal use in what is descibed as the ‘Eat and Earn’ method,” explains Jacob.

“It holds that instead of businesses using part of their ultimate profits to support social causes, it would be much more profitable for them to offer their customers a retainer incentive for every product purchased, and then use the cumulative accrual of these retainer incentives to empower their customers and support social causes.”

Jacob cites four categories of investment opportunities among them development of institutions to train Kenyans on the innovation and empowering them to manage the supplemental economic sector alongside the conventional sector.

It can also be used to establish industries to manufacture vehicle products, which will deliver economic benefits to society through ‘eat and earn’, offer consultancy and advisory services to create awareness of the benefits of the innovation among Kenyans and develop an ICT database.

 Economic imbalances

Jacob argues that research findings, which led to the innovation identified the national core problem as being a societal economic imbalance, compounded by over-reliance on the largely failed trickle-down theory. “The root cause of this imbalance was due to adoption of the narrow and lopsided economic policy inherited from the colonial government,” says Jacob.

He observes that investors’ fears would be addressed since the innovation is an insurance against business failure as well as an assurance of business success.

“It builds a broad customer base and a permanent capture market for businesses which cannot be assailed by the situational influence of competitors, retains customers for life, achieves total market coverage, and lowers the cost of doing business,” adds Jacob.

It also enhances profitability and supports perpetual human economic development. Jacob argues that the cumulative accrual of the retainer incentives alone will be several times the money the taxman collects annually.