The 47-year-old spoke out as Championship leaders Wolves have been heavily linked with a £7million swoop for Martin in the January transfer window, as boss Nuno Espirito Santo looks to beef up his forward options for his side's push for promotion to the Premier League.
And, as Martin has barely figured under boss Gary Rowett at Pride Park, Ramage feels it would be wise to let the Scotland international leave and target a swoop for Afobe.
He told the Derby Telegraph: "I see Chris Martin is being linked with a move to Wolverhampton Wanderers again this week.
"Martin has been a great servant to Derby County but if Wolves came in for him in January and offered, say, £7m, I would sell him - as long as that money was reinvested in the squad, plus a bit more, perhaps.
"Then you could go out and try to bring in a striker with real power and pace, like Benik Afobe at Bournemouth - someone who would walk in the building and make you think ‘wow’."
It remains unknown if Cherries boss Eddie Howe would be willing to sell Afobe, who he signed from Wolves for £10million in January 2016, although the 24-year-old has struggled for regular game time so far this term and might be tempted with guaranteed first-team action elsewhere.