Abstract

The purpose of this research is to analyze the increase in product selling value through product variation, brand image, and promotion. This research uses explanatory research, with a quantitative approach. A sample of 96 people using the Slovin formula. The method of analysis in this study uses multiple linear regression methods with statistical software SPSS 20. The results show that product variations, brand image, and promotion partially and significantly influence the increase in the value of product sales.

Introduction

The development of the business world is getting tougher and more competitive, especially competition between global companies. This condition requires business actors to always provide the best for consumers. Competition among business actors is increasingly competitive, the purchase of a product is no longer to meet needs but to fulfill desires. Strategies need to be developed by business actors to stay afloat in the market and increase product selling value, such as creating product variations that will later become the identity of these products in the global market and also providing innovative variations for products in terms of product attributes. This is in line with the results of research from [1] that partially prices and product variations have a positive influence on people's buying interest which has an impact on increasing the selling value of the product. Research from [2] says that the results of hypothesis testing found product variations have a positive and significant effect on purchasing decisions. This shows that to improve purchasing decisions, a variety of products must be made following the needs and desires of consumers. The results of this study are in line with research conducted by [3] who found that purchasing decisions were significantly influenced by product variation variables. [4] found that product variations affect consumer purchasing decisions. The increase in purchasing decisions from consumers has a significant effect on the increase in product selling value.

Brand Image is one important aspect that makes consumers decide to choose this product. The image can support the social status of the wearer, usually, products that have an international brand image provide a more distinctive image for the wearer so that users feel more confident about using international products. Brand according to Kotler in Fandy Tjiptono (2015: 113), a brand is a sign in the form of an image, name, word, letter, number, color arrangement, or a combination of these elements that have distinctive power and is used in trading activities of goods or services. Research conducted by [5] found that brand image has a positive and significant effect on purchasing decisions. Also [6] found that Brand Image has an effect on purchasing decisions and increases the selling value of the product. The use of one brand name worldwide helps to foster better recognition of a company's product, this strategy also helps achieve better consistency and coordination of world-class advertising and promotion activities, also allows clear identification between a single brand name and a company that has known for its superior selling and technical value

Literature Review

According to (Kotler & Amstrong, 2014) defines product variation as a separate unit in a brand or product line that can be differentiated based on size, price, appearance, or other characteristics. Meanwhile, according to (Tjiptono, 2015), product variations are suitable to be selected if the company intends to take advantage of product flexibility as a competitive strategy with producers, for example, standard products. Based on the understanding of these experts, the researcher concludes that product variation is a wide variety of products based on size, price, appearance, or other characteristics as the distinguishing elements. The definition of product variation according to Alma (2013) is a set of attributes, both tangible and intangible, including color, price, factory name, design, and services received by buyers as something that can satisfy their desires. Previous research conducted by [7] showed that the value of C.R (Critical Ratio) for the effect of product innovation on marketing performance was 4.685 with a P-value (Probability) of 0.001. These two values ​​indicate results that meet the requirements, namely above 1.96 for C.R (Critical Ratio) and below 0.05 for the P-value (Probability). So it can be concluded that product innovation has a positive and significant effect on marketing performance and an increase in product selling value.

Brand Image is a series of associations (perceptions) that exist in the minds of consumers towards a brand, usually organized into a meaning. The relationship to a brand will be stronger if it is based on experience and a lot of information. Images or associations represent perceptions that can or may not reflect objective reality. The image formed from the association (perception) underlies the buying decision and even brand loyalty from consumers. The brand image includes knowledge and belief in brand attributes (cognitive aspects), the consequences of using the brand, and the appropriate use situation, as well as evaluations, feelings, and emotions perceived by the brand (affective aspects).

Kotler and Keller (2013: 82) "Brand Imagery describes the extrinsic properties of the product or service, including how the brand attempts to meet customer's psychological or social needs". As for Kotler and Armstrong (2014: 233) state that brand image is "The set of beliefs held about a particular brand is known as brand image". Based on these two definitions, it can be concluded that understanding brand image is a consumers' understanding of the brand as a whole. Consumer trust in a particular brand and how consumers perceive a brand. A positive brand image will make consumers like a product with the relevant brand in the future, while for producers a good brand image will hinder competitors' marketing activities. When the brand image has been able to build product character and provide value proposition, then convey the character of the product to its consumers uniquely, it means that the brand has provided an emotional strength more than the rational power possessed by the product. This will make consumers associate positive things in their mind when thinking about the brand.

Based on some of the theories put forward by these experts, it can be concluded that a brand image is a set of beliefs in a name, symbol/design and the impression a person has on a brand is obtained based on information about the facts and then uses the brand so that this impression appears. relatively long term formed in the minds of consumers. Empirically this study supports the theory put forward by [8] that the suitability of brand image has estimated product preference (for example, clothing style), brand choice, consumer satisfaction, and loyalty. Brand image can make respondents make purchasing decisions. The results of research conducted by Putranto (2010) state that partially the brand image variable has a significant effect on product selling value, thus it can be concluded that the brand image variable is a strong driving factor for purchasing decisions, with the number of purchasing decisions from consumers it can increase the selling value. product.

Tjiptono (2015: 387) promotion is an element of the marketing mix that focuses on efforts to inform, persuade, and remind consumers of the company's brands and products. Meanwhile, according to [9] promotion is one of the elements in the company's marketing mix that is used to inform, persuade, and remind company products. [10] in his research said that real promotion is related to increased sales, where promotion can have a positive effect on increasing sales.

Based on the explanation above, it can be concluded that promotion is a very important activity in marketing a product or service so that it can attract consumers to buy the product, promotional activities must be designed as attractive as possible and the information conveyed must be easily understood by consumers so that readers can be interested and easy understood.

Research Method

The type of research used is explanatory research with a quantitative approach. Muria Kudus University was chosen as the research location. The sample used was 96 samples using the Slovin formula. The sampling technique uses positive random sampling, with criteria for students who already have businesses and who are interested in becoming entrepreneurs. Descriptive analysis is used as a data analysis technique in this study, multiple linear regression analysis with the F and t-test.

Classic assumption test

Multicollinearity Test

The multicollinearity test is carried out by looking at the tolerance value or VIF value with the assumption that if the tolerance value is> 0.1 and the VIF value is <10, there is no multicollinearity symptom (Ghozali, 2016: 106). Based on the results of the SPSS calculation, the multicollinearity test is obtained as fol

Source: primary data processed.

Based on table 1. the multicollinearity test shows that there is no tolerance value of more than 0.1 and a VIF value less than 10.0 so it can be concluded that there is no multicollinearity for the equation model used.

Heteroscedasticity test

The heteroscedasticity test in this study used the Glejser test by comparing the absolute value of the residuals with the independent variables. If the probability value (sig value) of the independent variable> 0.05, there is no heteroscedasticity. The results of the heteroscedasticity test with the help of the SPSS program computer are shown in table 2 as follows:

Source: primary data processed.

Based on table 2 the heteroscedasticity test shows that there is no sig value of the independent variable that is smaller than 0.05 so it can be concluded that heteroscedasticity does not occur for the equation model used.

Normality test

To determine normality, the One-Sample Kolmogorov-Smirnov Test technique is used. The results of the normality test are presented in table 3.

Source: primary data processed.

The results of data normality testing with the One-Sample Kolmogorov-Smirnov Test above show the Asymp value. Sig (2-tailed) of 0.428> 0.05, so it is said that the residual data is normally distributed, the normality requirements are met.

The data analysis method is intended to clarify the data obtained. Descriptive analysis that will be discussed includes, among others, the discussion of the results of calculations from quantitative analysis, as well as clearly describing the conditions that exist in the object.

The data obtained from the company is presented in a tabular form. Based on the recapitulation of the data, the process of testing the validity, reliability, and regression analyzes was carried out by processing the data using SPSS (Statistical Product and Services Solutions).

Result And Discussion

Multiple regression coefficients are used to determine and prove whether the overall regression coefficient value of the independent variables studied has a significant effect on the dependent variable. Based on the results of regression analysis regarding the effect of product innovation, brand image, and promotion on increasing the selling value of the business products of students of the Muria Kudus University PPK program, it is shown in the following table.

a Dependen variabel: increase in product selling value

Source: primary data processed.

Based on the results of data processing, the regression equation model is obtained as follows.

Y = 0.408 + 0.286X1 + 0.542X2 + 0.426X3 + e

The constant value (a) is 0.408, which means that if the product innovation, brand image, and promotion are 0 (zero), then the increase in the selling value of the business products of the Muria Kudus University PPK program students will remain positive, which is 0.408. The product innovation regression coefficient (b1) is 0.286, meaning that if the PPK program student business actors pay attention to the product innovation variable (X1), the increase in the selling value of the PPK UMK student business products will increase by 0.286 while other variables are considered constant. The value of the brand image regression coefficient (b2) is 0.542, meaning that if the PPK program student business actors pay attention to the brand image variable, the increase in the selling value of the PPK UMK student business products will increase by 0.542 while the other variables are considered constant. The regression coefficient value of the promotion variable (b3) is 0.426, meaning that if student business actors pay attention to the promotion variable, the student business of the PPK UKM program will experience an increase in the selling value of the product by 0.426 while the other variables are considered constant.

The results of the regression analysis show that the level of significance is 0.001 <0.05, so that product innovation, brand image, and promotion have a significant positive effect on the increase in the selling value of the business products of students of the PPK UMK program. Overall, based on these results, it can be explained that brand image has the strongest positive influence on increasing product selling value compared to product innovation and promotion.

Please provide the results systematically, concisely, and clearly. Next, compare your findings with various literatures, both of which tend to support or contradict. If there is a contradiction, convey the possible cause based on your analysis accompanied by supporting theories or other relevant research results.

The T-test (partial)

This analysis test is to determine a regression equation that can show whether or not the independent variable influences the dependent variable through the regression equation. This study uses the independent variable product innovation (X1), brand image (X2), and promotion (X3) while the dependent variable is the increase in product selling value (Y). A partial regression test is used to prove whether the regression coefficient value of each independent variable individually has a significant effect on the dependent variable, as shown in the following table.

Source: primary data processed.

Based on the SPSS calculation, the following results are obtained.

The t value obtained for the product innovation variable (X1) is 2.848, while the t table is 1.660 and the probability is 0.051 ˃0.05 means that product innovation affects, but is not significant, on the increase in the selling value of the business products of students of the Muria Kudus University PPK program. The product innovation variable has a positive relationship with an increase in product selling value. This means that the product innovation variables consisting of shape, color, function, benefits, and the price provided are good, but for the price and function of all competitors in the field of student business products also apply a balanced price and function, so that the effect is not so significant. an increase in the selling value of the student business products of the Muria Kudus University PPK program. This result contradicts research [11] that price, function, and experience have a positive and significant effect on increasing product selling value. Also, it is also contrary to the results of research [12] which prove that product innovation has a positive and significant effect on increasing product selling value. Research from [13] also proves that product innovation has a significant effect on increasing the selling value of products, both directly and indirectly through product excellence.

The t value obtained for the variable brand image (X2) is 3.062 with a table of 1.660 which means that the strength of the brand image has a significant and significant effect on the increase in the selling value of the business products of students of the PPK UMK program. Every consumer follows, organizes, and interprets this sensory data in their way according to Keller (2013). Perception does not depend on physical stimulation, but also stimulation related to the surrounding environment and individual circumstances. Different consumer views on an object will create a perceptual process in different purchasing behavior. This means that the brand image includes a positive attitude, brand strength, and brand uniqueness that have a positive and significant effect on the increase in the selling value of business products of students of the PPK UMK program. By the results of research [14] , [15] which states that brand image is influenced by positive attitudes, strength, and uniqueness of the brand.

The t value of the promotion variable (X3) is 3,826 and the t table is 1,660 which means that promotion has a significant and significant influence on the increase in the selling value of the business products of students of the PPK UMK program. Promotion is expected to be attractive so that these products have characteristics and are easily recognized by consumers and are difficult to imitate by competing producers [12]. The promotion of a product will give a memorable impression on the customer's memory, especially its advantages when compared to other brands. Promotional activities that have distinctive characteristics can give rise to consumers' desire to know more about the dimensions of the brand contained. It can be concluded that promotion has a positive and significant effect on increasing the selling value of the business products of Muria Kudus University PPK students.

F Test (Multiple)

Hypothesis testing between product innovation, brand image, and promotion on the increase in the selling value of business products of students of the Muria Kudus University PPK program is intended to determine the effect of the independent variables in the multiple models on the dependent variable using the F test, the test results are shown in the following table.

Source: primary data processed.

Based on the results of the analysis, it was found that the independent variables (product innovation, brand image, and promotion) together had a positive and significant effect on the dependent variable on the increase in product selling value, as evidenced by the calculated F value of 21,427 and F table of 2.80 (significance level 5 %). Based on the F test results obtained, it can be concluded that product innovation, brand image, and promotion together have a positive and significant effect on increasing the selling value of the business products of Muria Kudus University PPK students.

Test the Adjusted R Square

Based on the results of multiple regression analysis, hypothesis testing concludes that all independent variables together influence the dependent variable, there may be other independent variables that affect the increase in the selling value of the business products of students of the Muria Kudus University PPK program.

Source: primary data processed.

Based on the results of the calculation, the value of the Adjusted R square is 0.682; This means that the coefficient of determination is 68.2%, explaining that product innovation, brand image, and promotion have an effect of 68.2% on the increase in product selling value, while the remaining 31.8% is influenced by other factors outside of this research model.

Starting from the results of the partial test, it shows that product innovation has a positive and insignificant effect on the increase in the selling value of the PPK UMK students' business products, with the results of the calculation of the t value = 2.848 sig = 0.051> 0.05. These results indicate that there is an effect of product innovation on increasing the selling value of the product but it is not significant. This study proves that the business product innovation of the PPK UMK program students is good and has a positive effect on increasing the selling value of the product, but it is not significant. These results indicate that product innovation to increase the selling value of the product has a positive impact on the businesses of PPK UMK students to be able to increase the selling value of student products. So that product innovation for each student's business can increase the selling value of the product to face the global market.

Based on the results of the partial hypothesis test, it shows that the brand image has a positive and significant effect on the increase in the selling value of the PPK UMK students' business products with the results of t count = 3.062 and sig = 0.003 <0.05. These results are by the research objectives, namely to prove the influence of brand image on the increase in product selling value. This research proves that the brand image in the business of PPK UMK students is good and has a positive effect on increasing the selling value of the product. Based on this description, it can be explained that a very feasible brand image can affect the increase in product selling value in the PPK UMK student business products. Supported by research results [16] , [17] that brand image influences increasing product selling value.

Based on the results of the partial hypothesis test, it is found that promotion has a positive and significant effect on the increase in product selling value with the calculation results of t count = 3.826 and sig = 0.002 <0.05. These results are by the research objectives, namely to prove the effect of promotion on the increase in product selling value. This study proves that the promotion of business products for students of the PPK UMK program has been good and has a positive and significant effect on increasing the selling value of the product.

Promotional activities for student business products are intended to fulfill consumer desires, with the hope of encouraging consumers to choose based on optimal abilities and feelings, as a self-confidence enhancer by inherent needs. Because the promotion that is carried out can affect consumer commitment to product purchases so that the company will be able to obtain an increase in product selling value in market competition. Product promotion that is carried out can make consumers feel that they can fulfill their needs and feel comfortable in utilizing student business products so that business actors focus on winning the market competition in the future.

Based on the results of hypothesis testing simultaneously, it shows that product innovation, brand image, and promotion have a positive and significant effect on the increase in product selling value with the calculation results of F = 21.427 and sig = 0.001. These results are by the research objectives, namely to prove the existence of multiple effects, product innovation, brand image, and promotion on the increase in product selling value. These results support the research of [12], [15] which prove that brand image affects increasing the selling value of the product.

Conclusion

Referring to the results of research and analysis in this study regarding the effect of product innovation, brand image, and promotion on increasing the selling value of student products in the Muria Kudus University PPK program, the following conclusions can be drawn.

There is a positive and insignificant effect between product innovation on the partial increase in the selling value of the PPK UMK student business products as evidenced by the results of the study with a probability of 0.051 ˃ 0.05. Product innovation consisting of shape, color, taste, function, price, and composition provided is good, but for the function and price of all competitors in the field of student business products also apply a balanced one, so that it does not have a significant effect on increasing product selling value. PPK UMK student business.

Brand image has a positive and significant influence on the increase in the selling value of the business products of students of the PPK UMK program. This means that an increase in brand image is needed to increase the selling value of the PPK UMK students' business products to be able to increasingly compete with competing business products in the global market.

The promotion has a positive and significant effect on increasing the selling value of student business in the PPK UMK program, meaning that promotion needs to be maintained and developed by the models that consumers desire so that they will always be winners in market competition.

Product innovation, brand image, and promotion have a positive and significant impact on increasing the selling value of the product multiple times in the student business of the PPK UMK Kudus program, meaning that together they can create an increase in product selling value to gain victory in market competition.

Based on the results of multiple regression analysis, it turns out that brand image has a greater influence than product promotion and innovation, but together it can increase the selling value of the student business products of the PPK UMK Kudus program.

Acknowledgement

Thank you to the Directorate General of Research and Development of the Ministry of Research and Technology as an institution that has funded all of these community service activities through the Entrepreneurship Development Program 2021.

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