ANALYSIS OF THE INFLUENCE OF PRODUCT DEFINITION, REFERENCE GROUPS AND SOCIAL MEDIA MARKETING ON STUDENT SATISFACTION WITH MEDIATION OF PURCHASING DECISIONS (Study at STIE IEU Yogyakarta) Rian Larasati1, a), Ambar Lukitaningsih1, b) Muinah Fadhilah3, c) , Henny Welsa4,d), Erwin Hanggoro Agung Nugroho5,e
Department of Magister Management, Universitas Sarjanawiyata Tamansiswa Yogyakarta, Indonesia
Abstract
This study aims to analyse the effect of product differentiation, reference group, and social media marketing on student satisfaction at STIE IEU Yogyakarta, with purchase decision as the mediating variable. This study uses a quantitative method with a population of all STIE IEU Yogyakarta students, totalling 160 people.Primary data was collected through a questionnaire instrument given directly to students. This research questionnaire uses a scaling technique with a Likert scale of 1 to 5.Data processing and analysis using the Inferential Partial Least Square (PLS) method, variance-based SEM using smart PLS software version 3, which goes through 3 stages of testing: indicator test, model fit test and hypothesis testing .Product differentiation is expected to increase attractiveness and uniqueness, while reference groups play a role in shaping students^ preferences and attitudes towards the products offered. Social media marketing, as an effective communication platform, is able to increase interaction and engagement, which contributes to purchasing decisions. The results of the analysis show that there is a significant relationship between the three independent variables and student satisfaction, with purchasing decisions as a mediator that strengthens the influence. The findings provide insights for educational institutions in formulating more effective marketing strategies to increase student satisfaction and purchase decisions.
Keywords: Keywords: product differentiation, reference group, social media marketing, student satisfaction, purchase decision.
