The Effect of Traditional Market Revitalization in Medan City on Competitiveness, Trader Satisfaction and Increases in Sales of Traders with Perceived Value as a Mediation Variable

Nuzuliati, Prihatin Lumbanraja, Parapat Gultom, Endang Sulistya Rini

2019

Abstract

The market revitalization program is a form of commitment of the Ministry of Trade of the Indonesia Republic to improve the competitiveness of the public market in improving the welfare of traders through increasing turnover, supporting the smooth logistics and distributing of community needs and encouraging domestic markets in the era of global competition which is increasingly wide open. In revitalizing the market, the quality of service must also be improved well, because good quality of service will be able to provide satisfaction to consumers. The purpose of this study is to analyze the effect of traditional market revitalization on competitiveness, trader satisfaction, and improvement of trader sales with perceived value as a mediating variable. The respondents in this study are 370 traders. The population of this research is the traders in the traditional market of Medan City who have been revitalized because theoretically and empirically have various characteristics that are appropriate with the topics and objectives of the study. Data analysis is conducted using Structural Equation Modeling (SEM). The results showed that the revitalization of traditional markets in Medan city had a significant effect on competitiveness, satisfaction of traders, and the increasing sales of traders in Medan city. Competitiveness has a significant effect on the increase in sales of traders in the traditional market of Medan city. The satisfaction of traders has a significant effect on perceived value in the traditional market of Medan city, and perceived value has a significant effect on the increases sales of traders in the traditional market of Medan city. Competitiveness partially mediated the mediation of the effect of traditional market revitalization on increasing sales, the satisfaction of traders mediates partially the effect of traditional market revitalization in Medan city on perceived value, and perceived value partially mediated the effect of customer satisfaction on the increase in sales of traders.

Paper Citation

in Harvard Style

Nuzuliati., Lumbanraja P., Gultom P. and Rini E. (2019). The Effect of Traditional Market Revitalization in Medan City on Competitiveness, Trader Satisfaction and Increases in Sales of Traders with Perceived Value as a Mediation Variable. In Proceedings of the 2nd Economics and Business International Conference - Volume 1: EBIC, ISBN 978-989-758-498-5, pages 457-465. DOI: 10.5220/0009216204570465

in Bibtex Style

@conference{ebic19,
author={Nuzuliati and Prihatin Lumbanraja and Parapat Gultom and Endang Sulistya Rini},
title={The Effect of Traditional Market Revitalization in Medan City on Competitiveness, Trader Satisfaction and Increases in Sales of Traders with Perceived Value as a Mediation Variable},
booktitle={Proceedings of the 2nd Economics and Business International Conference - Volume 1: EBIC,},
year={2019},
pages={457-465},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0009216204570465},
isbn={978-989-758-498-5},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 2nd Economics and Business International Conference - Volume 1: EBIC,
TI - The Effect of Traditional Market Revitalization in Medan City on Competitiveness, Trader Satisfaction and Increases in Sales of Traders with Perceived Value as a Mediation Variable
SN - 978-989-758-498-5
AU - Nuzuliati.
AU - Lumbanraja P.
AU - Gultom P.
AU - Rini E.
PY - 2019
SP - 457
EP - 465
DO - 10.5220/0009216204570465