‘Gold Marketing’ Attracting Consumers

More companies are turning to “gold marketing,” or a strategy using lotteries for prizes of pure gold to raise sales.

Food manufacturer Daesang FNF, Inc. has held the event “Much Love! Much Gold!” in which 30 people can each win 150 grams of pure gold worth around five million won.

Daesang will give away 300 million won in prizes for buyers of its “tasty tofu made of sprouted beans” through Feb. 21.

A company source said, “The price of gold has recently skyrocketed. With only a few days left until the Lunar New Year’s holidays, when homemakers consume lots of tofu, we decided to hold the gold giveaway event to attract customers.”

“Since launching the event, sales at discount stores have increased and more consumers have joined our Web site.”

Detergent maker Pigeon has held its own gold event, “Find the Gold Pigeon,” in which ten lucky buyers will each win 37.5 grams of pure gold through Feb. 28.

A Pigeon source said, “In a survey, housewives showed the greatest preference for gold.”

Car navigation device maker Fine Digital will hold “2008, Seize the Gold” to boost sales of its “Fine Drive iQ” through Feb. 14. The company will give 20 lucky buyers 3.75 grams of pure gold each.

Launching its new hair dryer model “Ample,” Unix Electronics is trying to boost sales with golden pigs. Twenty buyers can win a golden pig containing 3.75 grams of gold until the end of March.

Gold marketing is apparently winning customers over. Working housewife Lee Bo-ra said, “Naturally, I choose cheaper products or those whose makers are holding events. Since I’ve hear that gold prices are soaring, I cannot help looking for events giving away free gold.”

Industry sources said consumers will continue to seek “gold events” until the price of the precious metal stops rising.

woogija@donga.com