Comparing marketing strategies for gold savings and rahn in an Indonesian Islamic pawnshop

Abstract

Purpose: to analyze and compare the marketing strategies of gold savings and rahn products in increasing customer interest at PT Pegadaian Syariah Muara Enim Branch.

Method: this study employs a qualitative descriptive approach conducted at PT Pegadaian Syariah Muara Enim Branch. Data were collected through observation, structured interviews with branch management, marketing staff, and customers, as well as documentation of relevant company records. The data were analyzed using the interactive model consisting of data collection, data reduction, data display, and conclusion verification, with the marketing mix (4P) framework used as the main analytical approach.

Findings: gold savings and rahn have different customer growth patterns. Rahn experienced more stable growth due to its role in meeting immediate financing needs, while gold savings showed fluctuating growth as an investment-oriented product. The 4P marketing mix, particularly community-based promotion and personal selling, contributed to building customer trust and increasing customer interest.

Implications: Islamic financial institutions should develop product-specific marketing strategies by combining the marketing mix with trust-based community engagement to increase customer interest and strengthen competitiveness effectively.

Originality: by providing a comparative analysis of gold savings and rahn marketing strategies within the same Islamic pawnshop context, revealing how different product characteristics influence customer growth patterns and marketing effectiveness.