The Influence Of Prices, Locations, Promotions, And Lifestyle Of USU Faculty Of Economics Students On The Interest Of Repurchase At The SOGO Department Store Sun Plaza Medan

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The Influence of Prices, Locations, Promotions, and Lifestyle of USU Faculty of Economics Students on the Interest of Repurchase at the SOGO Department Store Sun Plaza Medan

Introduction

In today's competitive market, understanding the factors that influence consumer behavior is crucial for businesses to remain relevant and attract repeat customers. The SOGO Department Store, located at Sun Plaza Medan, is one such establishment that aims to cater to the needs of its customers, particularly students from the Faculty of Economics, University of North Sumatra (USU). This study aims to investigate the influence of prices, locations, promotions, and lifestyle of USU Faculty of Economics students on their interest in repurchasing at the SOGO Department Store.

Methodology

This study employed an associative research method, where a sample of 96 respondents from the USU Faculty of Economics was selected through purposive sampling techniques. Primary data were collected through a questionnaire, while secondary data were obtained from literature studies. To test the hypothesis, logistic regression analysis was used with a significance level of α = 5% (0.05).

Results

The results of this study showed that the price and location simultaneously had a positive but insignificant influence on the interest of repurchase. Conversely, promotion showed a negative influence and was also not significant on these interests. On the other hand, student lifestyle was proven to have a positive and significant influence on their interest in buying back at the SOGO Department Store.

Analysis of the Effect of Variables

Price

In this study, although the price had a positive influence, the impact was not significant on the decision of students to make a repeat purchase. It can be interpreted that students of the Faculty of Economics may feel that the prices offered in Sogo are already comparable to product quality, but other factors are more dominating their decisions.

Location

Sogo location at Sun Plaza is a separate advantage because of its good accessibility. However, the results showed that although the location affected, the influence was not strong enough to encourage students to make significant repurchase.

Promotion

Interestingly, although promotion is usually the main driver in attracting customers, this research found that the promotions conducted by Sogo did not have a significant impact on student re-purchase interest. This can be caused by the lack of relevance or attractiveness of the promotions offered.

Lifestyle

Students who have a lifestyle that suits the products offered by Sogo are more likely to go back to shopping. This shows that an understanding of consumers' lifestyle can be a key in formulating a more effective marketing strategy.

Conclusion

Overall, this research highlights the importance of lifestyle factors in shaping the re-purchase decisions among students. While prices, locations, and promotions remain relevant, companies need to further explore the preferences of consumers' lifestyles to increase customer loyalty. This can be a consideration for Sogo management to improve marketing strategies and improve student shopping experiences, with the hope of attracting them to shop more often in the future.

Implications

The findings of this study have several implications for businesses, particularly those in the retail industry. Firstly, it highlights the importance of understanding consumer lifestyle in formulating effective marketing strategies. Secondly, it suggests that prices, locations, and promotions, while important, may not be the primary drivers of customer loyalty. Finally, it emphasizes the need for businesses to continuously monitor and adapt to changing consumer preferences and behaviors.

Recommendations

Based on the findings of this study, the following recommendations are made:

  1. Conduct further research: Conduct further research to explore the preferences and behaviors of USU Faculty of Economics students in more detail.
  2. Develop targeted marketing strategies: Develop targeted marketing strategies that take into account the lifestyle preferences of USU Faculty of Economics students.
  3. Improve customer experience: Improve customer experience by providing a more personalized and engaging shopping experience for USU Faculty of Economics students.
  4. Monitor and adapt: Monitor and adapt to changing consumer preferences and behaviors to remain relevant and competitive in the market.

By implementing these recommendations, businesses can improve their marketing strategies and increase customer loyalty, ultimately leading to increased sales and revenue.
Frequently Asked Questions (FAQs) about the Influence of Prices, Locations, Promotions, and Lifestyle of USU Faculty of Economics Students on the Interest of Repurchase at the SOGO Department Store Sun Plaza Medan

Q: What was the main objective of this study?

A: The main objective of this study was to investigate the influence of prices, locations, promotions, and lifestyle of USU Faculty of Economics students on their interest in repurchasing at the SOGO Department Store.

Q: What research method was used in this study?

A: This study employed an associative research method, where a sample of 96 respondents from the USU Faculty of Economics was selected through purposive sampling techniques.

Q: What was the significance level used in this study?

A: The significance level used in this study was α = 5% (0.05).

Q: What were the findings of this study regarding the influence of prices on the interest of repurchase?

A: The results of this study showed that the price had a positive but insignificant influence on the interest of repurchase.

Q: What were the findings of this study regarding the influence of location on the interest of repurchase?

A: The results of this study showed that the location had a positive but insignificant influence on the interest of repurchase.

Q: What were the findings of this study regarding the influence of promotion on the interest of repurchase?

A: The results of this study showed that the promotion had a negative influence and was also not significant on the interest of repurchase.

Q: What were the findings of this study regarding the influence of lifestyle on the interest of repurchase?

A: The results of this study showed that the lifestyle had a positive and significant influence on the interest of repurchase.

Q: What does this study suggest about the importance of lifestyle factors in shaping consumer behavior?

A: This study highlights the importance of lifestyle factors in shaping consumer behavior, particularly among students.

Q: What are the implications of this study for businesses, particularly those in the retail industry?

A: The findings of this study have several implications for businesses, particularly those in the retail industry. Firstly, it highlights the importance of understanding consumer lifestyle in formulating effective marketing strategies. Secondly, it suggests that prices, locations, and promotions, while important, may not be the primary drivers of customer loyalty.

Q: What recommendations can be made based on the findings of this study?

A: Based on the findings of this study, the following recommendations can be made:

  1. Conduct further research: Conduct further research to explore the preferences and behaviors of USU Faculty of Economics students in more detail.
  2. Develop targeted marketing strategies: Develop targeted marketing strategies that take into account the lifestyle preferences of USU Faculty of Economics students.
  3. Improve customer experience: Improve customer experience by providing a more personalized and engaging shopping experience for USU Faculty of Economics students.
  4. Monitor and adapt: Monitor and adapt to changing consumer preferences and behaviors to remain relevant and competitive in the market.

Q: What are the limitations of this study?

A: The limitations of this study include the small sample size and the use of a single case study.

Q: What are the future research directions based on the findings of this study?

A: Future research directions based on the findings of this study include:

  1. Exploring the preferences and behaviors of other consumer groups: Exploring the preferences and behaviors of other consumer groups, such as working professionals or retirees.
  2. Developing targeted marketing strategies: Developing targeted marketing strategies that take into account the lifestyle preferences of different consumer groups.
  3. Improving customer experience: Improving customer experience by providing a more personalized and engaging shopping experience for different consumer groups.