THE EFFECT OF PRICE PERCEPTION, PRODUCT QUALITY, SERVICE QUALITY ON CONSUMER LOYALTY MEDIATED BY CONSUMER SATISFACTION

ABSTRACT


Introduction
The process of economic development in Indonesia has led to the growth of economic activities in various sectors, including small, medium and large enterprises.The increase in economic activity causes competition between business actors to become tighter and more competitive, thus making Micro, Small and Medium Enterprises (MSMEs) take the right steps to be able to adapt to dynamic changes and continue to grow following the needs of the community.MSEs in the market sector as a form of supporting means for the process of interaction and public services where buying and selling transactions occur, is one of the reflections of the economy and socioculture of every community in the world, one of which is Pasar Modern BSD City is an integrated commercial area located in South Tangerang, successfully transforming traditional markets in conducting market management and becoming one of the pioneers of traditional markets with a modern face that is proven to get awarded by APPSI in 2005 as an ideal market (www.appsi.id)Salted fish traders pay attention to prices for each type of salted fish based on the quality of each salted fish, taking into account several factors in setting prices, namely the price of salted fish itself, the price of other goods closely related to the salted fish, consumer income, consumer tastes, population, and consumer predictions about future conditions that affect consumers in making purchases (Cakici & Tekeli, 2022).
Salted fish is one of the processed fish products produced by adding or soaking salt or salt solution, then dried in the sun until the salt soaks in and dries.The process of making salted fish is relatively simple, with salt preservation removing moisture and preventing the growth of microorganisms that can damage the salted fish (Kurniawati, Arif, & Winarno, 2017).The quality and safety of salted fish need attention considering the production and distribution process is still simple (conventional), so that the quality of good salted fish can be influenced by several factors, namely the quality of salted fish raw materials, the amount and purity of salt used, and the drying process of salted fish (Nawansih, Rizal, Rangga, & Ayu, 2017).Salted fish traders have limited knowledge on how to increase the selling value of salted fish, which can be adjusted to the quality of the salted fish itself and the quality of the salted fish packaging (Christian, Japri, Rembulan, & Yulita, 2021), so that traders can consider good (protecting salted fish from damage) and adequate (such as vacuum packaging) packaging can increase added value to salted fish sales.
Service quality is the overall various characteristics and characteristics of a product or service in terms of the ability to meet various predetermined or latent needs (Panjaitan & Yuliati, 2016).Salted fish merchants need to prioritize service quality as an integral part of the consumer shopping experience, so that by meeting consumer demands and desires will create consumer satisfaction and provide benefits between consumers and merchants (Ibrahim & Thawil, 2019).
Previous research also said that consumer satisfaction is influenced by service quality where the combination of consumer satisfaction with existing factors makes consumer satisfaction will increase when the quality of service is in accordance with consumer expectation.Consumer loyalty is a consumer's commitment to a brand or supplier based on a very positive attitude and is reflected in consistent repurchases (Kotler & Keller, 2016).Loyalty is a commitment to endure deeply by repurchasing or resubscribing to a consistently selected product or service in the future, even though the influence of the situation and marketing efforts have the potential to cause changes in consumer behavior.
Salted fish traders in implementing an appropriate marketing strategy are very important to deal with diverse consumer conditions, such as in the success of marketing strategies influenced by several factors that exist before making a purchase decision, namely price perception, product quality and quality of service obtained, but there are important things that must be understood that each consumer has different behavior, So that these factors do not necessarily all influence consumers in making a purchase decision.Consumers can be influenced by one variable, two variables or even influenced by all of these variables, so knowledge of the variables that consumers consider in making purchase decisions and the most dominant variables among the three variables that influence purchasing decisions will be loyalty to a good or service.
From some of the relationships described above, this study aims to examine the influence of Price Perception, Product Quality, and Service Quality on Salted Fish Consumer Loyalty in the BSD-Tangerang Modern Market.In addition, the study also aims to analyze the effect of Price Perception on Consumer Satisfaction and examine the impact of Product Quality and Service Quality on e-ISSN: 2723-6692  p-ISSN: 2723-6595 Consumer Satisfaction.Finally, this study aims to understand the mediating impact of Consumer Satisfaction on the relationship between Price Perception, Product Quality, Service Quality, and Consumer Loyalty.The benefits of this research include two aspects, namely practical benefits and academic benefits.Practically, the results of this study are expected to provide salted fish traders in Pasar Modern BSD -Tangerang valuable insights in increasing their consumer loyalty by paying attention to the factors studied.Academic benefits include the use of this study as a guide for subsequent research related to consumer loyalty in the same market, as well as a reference in the application of theory and additional knowledge about the variables involved in consumer and business relationships

Materials and Methods
This research uses quantitative methods, which is a systematic, planned, and structured research approach with the use of numbers to collect and analyze data.This study is also categorized as causal research, which focuses on cause-and-effect relationships between variables.The data in this study were collected over a period of time, so it was included in a cross-sectional approach.The study population consisted of salted fish consumers in Pasar Modern BSD -Tangerang who met certain criteria, and the study sample consisted of 145 respondents, selected based on calculations that took the number of indicators from all variables multiplied by five.This study used primary data collection method through questionnaires filled out by respondents.The sample was selected using a non-probability sampling technique with purposive sampling method, focusing on salted fish consumers in Pasar Modern BSD -Tangerang who met certain criteria.The research instrument used is a questionnaire with a five-point Likert scale, which involves statements describing the attitude and opinion of respondents towards the object of study.
To ensure data quality, the study underwent validity and reliability tests.Validity testing involves testing convergent and discriminant validity, which ensures that statements in the questionnaire can represent the variable under study and can be distinguished from other variables.Reliability tests include composite reliability measurements and Cronbach's alpha to check instrument consistency and reliability.Data analysis was carried out using the Partial Least Square (PLS) method.Several tests are used to measure model quality, including goodness of fit testing, coefficient of determination, Q Square, effect size, path coefficient value testing, and t test.The data from the analysis will provide an understanding of the magnitude of the influence of research variables and ensure the compatibility of the model formed.Table 1  Source: : Data processing results with SmartPLS4 (2023) Based on table 1, it can be seen that all indicators of the variables Price Perception, Product Quality, Service Quality, Consumer Satisfaction, and Consumer Loyalty have a loading factor value greater than 0.7.This proves that all indicators of some of these variables have met convergent validity that exceeds the criteria and can be concluded to be valid.

Test Instruments Test Data Validity
From the results that have been obtained, it can be seen that the highest indicator in the Price Perception variable is PH 1 with a value of 0.864, respondents feel that the price of salted fish products sold in the modern market BSD Tangerang is quite affordable.The highest indicator on the Product Quality variable is KP 2 with a value of 0.890, respondents feel that salted fish products in the modern market of BSD Tangerang are suitable for consumption and / or re-acquisition in a long period of time.The highest indicator on the Service Quality variable is KL 1 with a value of 0.879, respondents understand that salted fish traders in the modern market BSD Tangerang serve consumers friendly.The highest indicator in the Consumer Satisfaction variable is KK 1 with a value of 0.865, respondents feel they get satisfactory service and comfortable shopping at the BSD Tangerang modern market, so respondents will return to buy salted fish at the BSD Tangerang modern market.The highest indicator in the Consumer Loyalty variable is LK 3 with a value of 0.871, respondents get a pleasant experience to shop at the modern market BSD Tangerang, because of good service and responsiveness in answering every question of respondents.From the results of the discriminant validity test Table 2, it was found that the cross loadings value of the indicator against the variable is stronger than the cross loadings value of the indicator against other variables so that it can be concluded that all indicators have met the requirements in the discriminant validity test.Based on table 6, it can be seen that the Normed Fit Index shows a value of 0.810 which means that the value of the Normed Fit Index is between 0 and 1, so it can be concluded that the data used has met the Goodness of Fit requirements.Based on table 8, it can be seen that the value of Q Square to the variable ( 2 )Consumer is 0.881 and Consumer Loyalty is 0.832.The value is greater than 0 which means that all models formed have met the requirements of Q Square.This also shows the magnitude of the diversity of research data that can be explained from this study is 11.9% and the remaining 16.8% is explained by other factors outside this study.a. Price Perception has a positive coefficient of 0.142 on Consumer Loyalty, which means that the higher the value of the Price Perception variable, the higher the value of Consumer Loyalty.
b. Product Quality has a positive coefficient of 0.083 on Consumer Loyalty, which means that the higher the value of the Product Quality variable, the higher the value of Consumer Loyalty.c. Service Quality has a positive coefficient of 0.218 on Consumer Loyalty, which means that the higher the value of the Service Quality variable, the higher the value of Consumer Loyalty.
d. Price Perception has a positive coefficient of 0.439 on Consumer Satisfaction, which means that the higher the value of the Price Perception variable, the higher the value of Consumer Satisfaction.
e. Product Quality has a positive coefficient of 0.207 on Consumer Satisfaction, which means that the higher the value of the Product Quality variable, the higher the value of Consumer Satisfaction.
e-ISSN: 2723-6692  p-ISSN: 2723-6595 f.Service Quality has a positive coefficient of 0.325 on Consumer Satisfaction, which means that the higher the value of the Service Quality variable, the higher the value of Consumer Satisfaction.
g. Consumer Satisfaction has a positive coefficient of 0.518 on Consumer Loyalty, which means that the higher the value of the Consumer Satisfaction variable, the higher the value of Consumer Loyalty.
h.Price Perception has a positive coefficient of 0.227 on Consumer Loyalty through Consumer Satisfaction which means that the higher the value of Price Perception, the higher the value of Consumer Loyalty through Consumer Satisfaction.
i. Product Quality has a positive coefficient of 0.107 on Consumer Loyalty through Consumer Satisfaction which means the higher the Product Quality value, the higher the Consumer Loyalty value through Consumer Satisfaction.
j. Service Quality has a positive coefficient of 0.168 on Consumer Loyalty through Consumer Satisfaction which means that the higher the value of Service Quality, the higher the value of Consumer Loyalty through Consumer Satisfaction.

The Effect of Price Perception on Consumer Loyalty
The first hypothesis or H1 states that Price Perception has a positive and significant effect on Consumer Loyalty.Based on the results of hypothesis testing that has been done, it can be concluded that the first hypothesis or H1 is rejected.The conclusion as a result of analysis based on data that has been obtained in Table 11 is known that the p value for the effect of Price Perception on Consumer Loyalty is 0.199 greater than 0.05, and the t value of statistics is 1.285.The Coefficient value is 0.142 which means that the Price Perception variable has a positive influence on the Consumer Loyalty variable by 14.2%.Thus it can be concluded that Price Perception has a positive, but not significant effect on Consumer Loyalty.
Based on research that has been done, this research has proven to contradict previous research by (Cakici & Tekeli, 2022), which states that price perception is one of the influential factors in purchasing decisions, price perception creates a consumer point of view to revisit and develop stronger loyalty.In addition, this study has also proven to contradict research conducted by Laurene (Istiyawari, Hanif, & Nuswantoro, 2021), stating that the more in accordance with the perception of prices offered to consumers, the higher the consumer loyalty.
Based on these findings, consumers who have long subscribed or have become loyal consumers tend to experience changes in the dynamics of salted fish purchases at Pasar Modern BSD -Tangerang, in this case the price factor may not be the main factor in influencing purchasing e-ISSN: 2723-6692  p-ISSN: 2723-6595 decisions.When consumers have had positive experiences and long-term relationships, as well as strong trust, they are often comfortable with purchasing decisions without the need to compare competitors' prices.

The Effect of Product Quality on Consumer Loyalty
The second hypothesis or H2 states that Product Quality has a positive and significant effect on Consumer Loyalty.Based on the results of hypothesis testing that has been done, it can be concluded that the second hypothesis or H2 is rejected.The conclusion as a result of analysis based on data that has been obtained in Table 4.21 is known that the p value for the effect of Product Quality on Consumer Loyalty is 0.458 greater than 0.05, and the t value of statistics is 0.742.The Coefficient value is 0.083 which means that the Product Quality variable has an influence on the Consumer Loyalty variable by 8.3%.Thus it can be concluded that Product Quality has a positive, but not significant effect on Consumer Loyalty.
Based on research that has been done, this research has proven to contradict previous research by (Keshavarz & Jamshidi, 2018), which states that perceived Product Quality will determine the level of Consumer Loyalty to certain entities.In addition, this study is also proven to contradict research conducted by (Noviyanti, Sunarsi, & Wijoyo, 2021), which states that improving Product Quality to consumers will increase purchasing decisions in increasing Consumer Loyalty.
Based on these findings, salted fish traders in Pasar Modern BSD -Tangerang did not provide a significant difference to the quality of salted fish products, so consumers felt that there was relatively no difference from the types of salted fish offered.This makes it easy for consumers to find other alternatives that offer similar products and reduce curiosity or interest in remaining loyal to the salted fish product.

The Effect of Service Quality on Consumer Loyalty
The third hypothesis or H3 states that Service Quality has a positive and significant effect on Consumer Loyalty.Based on the results of hypothesis testing that has been done, it can be concluded that the third hypothesis or H3 is accepted.The conclusion as a result of analysis based on data that has been obtained in Table 4.21 is known that the p value for the effect of Service Quality on Consumer Loyalty is 0.015 smaller than 0.05, and the t value of statistics is 2.434.The positive Coefficient value is 0.218 which means that the Service Quality variable has a positive influence on the Consumer Loyalty variable of 21.8%.
Thus, it can be concluded that Service Quality has a positive and significant effect on Consumer Loyalty.Based on research that has been done, it is proven that the results of this study support previous research conducted by (Özkan, Süer, Keser, & Kocakoç, 2020) (Ahmed et al., 2023) (Lie, Sudirman, Efendi, & Butarbutar, 2019) who found the same thing that Service Quality has a positive and significant influence on Consumer Loyalty.

The Effect of Price Perception on Consumer Satisfaction
The fourth hypothesis or H4 states that Price Perception has a positive and significant effect on Consumer Satisfaction.Based on the results of hypothesis testing that has been done, it can be concluded that the fourth hypothesis or H4 is accepted.The conclusion as a result of analysis based on data that has been obtained in Table 4.21 is known that the p value for the effect of Price Perception on Consumer Satisfaction is 0.000 smaller than 0.05, and the t value of statistics is 5.589.The positive Coefficient value is 0.439 which means that the Price Perception variable has a positive influence on the Consumer Satisfaction variable by 43.9%.
Thus, it can be concluded that Price Perception has a positive and significant effect on Consumer Satisfaction.Based on research that has been done, it is proven that the results of this study support previous research conducted by (Ahmed et al., 2023;Cakici & Tekeli, 2022) and (Gofur, 2019) who found the same thing that Price Perception has a positive and significant influence on Consumer Satisfaction.

The Effect of Product Quality on Consumer Satisfaction
The fifth hypothesis or H5 states that Product Quality has a positive and significant effect on Consumer Satisfaction.Based on the results of hypothesis testing that has been carried out, it can be concluded that the fifth hypothesis or H5 is accepted.The conclusion as a result of analysis based on data that has been obtained in Table 4 is known that the p value for the effect of Product Quality on Consumer Satisfaction is 0.023 smaller than 0.05, and the t value of statistics is 2.279.The positive Coefficient value is 0.207 which means that the Product Quality variable has a positive influence on the Consumer Satisfaction variable by 43.9%.
Thus it can be concluded that Product Quality has a positive and significant effect on Consumer Satisfaction.Based on research that has been done, it is proven that the results of this study support previous research conducted by (Afnina & Hastuti, 2018), (Ibrahim & Thawil, 2019), and (Keshavarz & Jamshidi, 2018) who found the same thing that Product Quality has a positive and significant influence on Consumer Satisfaction.

The Effect of Service Quality on Consumer Satisfaction
The sixth hypothesis or H6 states that Service Quality has a positive and significant effect on Customer Satisfaction.Based on the results of hypothesis testing that has been done, it can be concluded that the sixth hypothesis or H6 is accepted.The conclusion as a result of analysis based on data that has been obtained in Table 4 is known that the p value for the effect of Service Quality on Consumer Satisfaction is 0.000 smaller than 0.05, and the t value of statistics is 4.742.The positive Coefficient value is 0.325 which means that the Product Quality variable has a positive influence on the Consumer Satisfaction variable by 32.5%.
Thus, it can be concluded that Service Quality has a positive and significant effect on Consumer Satisfaction.Based on the research that has been done, it is proven that the results of this study support previous research conducted by Özkan, P., Süer, S., Keser, İ.K. and Kocakoç, İ.D. (2020), Bello, K.B (2021), and Slack, N.J. and Singh, G. (2020) who found the same thing that Service Quality has a positive and significant influence on Consumer Satisfaction.

The Effect of Consumer Satisfaction on Consumer Loyalty
The seventh hypothesis or H7 states that Consumer Satisfaction has a positive and significant effect on Consumer Loyalty.Based on the results of hypothesis testing that has been done, it can be concluded that the seventh hypothesis or H7 is accepted.The conclusion is as a result of analysis based on the data obtained in Table 4, namely it is known that the value of 0.000 is smaller than 0.05, and the value of t statistics is 5.142.The positive Coefficient value is 0.518 which means that the Product Quality variable has a positive influence on the Consumer Satisfaction variable by 51.8%.
Thus, it can be concluded that Consumer Satisfaction has a positive and significant effect on Consumer Loyalty.Based on research that has been done, it is proven that the results of this study support previous research conducted by (Surahman, Yasa, & Wahyuni, 2020), stating that consumer satisfaction has a positive and significant effect on consumer loyalty.This is supported by research by (Mansouri, Sadeghi Boroujerdi, & Md Husin, 2022), that consumer satisfaction is very important for making purchases and consumer loyalty in the future and according to (Sadler-Smith, 2017), states that the higher the recorded value of consumer satisfaction and loyalty, the more consumers can be considered true loyal, so the results of previous studies found the same thing that Consumer Satisfaction has a positive and significant influence on Consumer Loyalty.

The Effect of Price Perception on Consumer Loyalty mediated by Consumer Satisfaction
The eighth hypothesis or H8 states that Price Perception has a positive and significant effect on Consumer Loyalty mediated by Consumer Satisfaction.Based on the results of hypothesis testing that has been carried out, it can be concluded that the eighth hypothesis or H8 is accepted.The conclusion as a result of analysis based on data that has been obtained in Table 4.21 is known that the value of 0.000 is smaller than 0.05, and the value of t statistics is 3.757.The positive Coefficient value of 0.227 means that the Price Perception variable has a positive influence on the Consumer Loyalty

Conclusion
In this study, a number of relevant findings were found.First, Price Perception has a positive, though not significant, influence on Consumer Loyalty.This suggests that salted fish traders need to consider how to provide consumers with better price perception to influence their loyalty.However, other factors such as product quality, service quality, after-purchase experience, and personal preference also play a role in shaping consumer loyalty.Second, Product Quality has a positive, though not significant, influence on Consumer Loyalty, suggesting that salted fish traders need to improve the quality of their products to differentiate themselves from competitors.Third, Service Quality has a positive and significant effect on Consumer Loyalty, emphasizing the importance of providing good and friendly service to consumers.In addition, Price Perception and Product Quality have a positive and significant effect on Consumer Satisfaction, while Service Quality has a positive and significant effect on Consumer Satisfaction.Finally, Consumer Satisfaction has a positive and significant effect on Consumer Loyalty, which shows that creating a positive experience and fulfilling customer satisfaction can motivate them to remain loyal to salted fish traders in Pasar Modern BSD -Tangerang.In conclusion, this study provides valuable insights for salted fish traders in Pasar Modern BSD -Tangerang to increase their consumer loyalty by paying attention to the factors studied.
Theoretical suggestions from this study include the use of measurements from other sources and a more in-depth analysis of the variables used, including data processing methods.Future research may consider more representative research subjects and replicate research with different subjects to ensure consistency of results.Practical advice to salted fish traders in Pasar Modern BSD -Tangerang is to always understand the needs, wants, and demands of consumers, as well as pay attention to price perception, product quality, and service quality.Improving product quality, managing effective price perception, and ensuring consumer satisfaction can help increase consumer loyalty.However, this study has several limitations, including limitations in the variables measured, limited sample area, measurement methods through questionnaires that can affect the accuracy of research results.Future research agendas may consider other variables affecting Consumer Satisfaction and Consumer Loyalty, as well as involve samples from major cities in Indonesia and other modern markets for more representative results.

Figure 1
Figure 1 Outer Model 1 1 Source: Data processing results with SmartPLS4 (2023) Here are the outer loading values for each construct indicator:Table1Table of Validity Test Results with Convergent Validity

Figure 2
Figure 2 Model Bootstrapping 1 Source: : Data processing results with SmartPLS4 (2023) After doing bootstrapping testing as in Figure 2, next is to do a Path Coefficients analysis to see the results of the direct influence calculation below:Table 10 Table of Test Results of Path Coefficient Values e-ISSN: 2723-6692  p-ISSN: 2723-6595

Table 3 Table of Validity Test Results with Average Variances Extracted
Based on the results of data processing shown in Table3, it can be seen that all variables have an Average Variances Exctracted value of > 0.5 which means that all variables have met the requirements for Average Variances Exctracted testing.

Table 4 Table of Reliability Test Results with Composite Reliability
Based on the results of data processing shown in Table4, it can be seen that all variables show a Composite Reliability value greater than 0.70 thus all variables have met the requirements of the Composite Reliability test and can be continued for the next step.

Table 5 Table of Reliability Test Results with Cronbach's Alpha
Based on the results of data processing shown in Table5, it can be seen that all variables show Cronbach's Alpha values greater than 0.70, it can be concluded that all variables have met the requirements of Cronbach's Alpha test and can be continued for the next step.

Table 7 Table of Coefficient of Determination Test Results
The R-Square value of the Consumer Satisfaction variable is 0.884 greater than 0.75 which can mean that the model is strong.The R-Square value means that 88.4% of Consumer Satisfaction variables can be influenced by Price Perception, Product Quality, and Service Quality variables.While 11.6% was influenced by other variables outside the variables studied.b.The R-Square value of the Consumer Loyalty variable is 0.868 greater than 0.75 which can mean that the model is strong.The R-Square value means that 86.8% of Consumer Loyalty variables can be influenced by Price Perception, Product Quality, Service Quality, Consumer Satisfaction.While the remaining 13.2% was influenced by other variables outside the variables studied. a.

Table 9 Table of Effect Size Test Results
Based on table 9, it can be seen that all F2 values have medium and small values.a.Price Perception has a value of 0.217 so it has a moderate influence on Consumer Satisfaction.Product Quality has a value of 0.051 so it has a small influence on Consumer Satisfaction.Service Quality has a value of 0.146 so that it has a small influence on Customer Satisfaction.b.Price Perception has a value of 0.016 and Product Quality has a value of 0.007 so that it has a moderate influence on Consumer Loyalty.Service Quality has a value of 0.050 so it has little influence on Consumer Loyalty.Consumer Satisfaction has a value of 0.237 so that it has a moderate influence on Consumer Loyalty.The next stage is to do bootstrapping testing.This test is carried out by looking at the results of the Path Coefficients test to see the significance value through t-statistics and p value to check the relationship between variables.Here are the results of bootstrapping testing from using PLS: