THE EFFECT OF PRODUCT VALUE, SERVICE QUALITY, AND CUSTOMER SATISFACTION ON CUSTOMER LOYALTY AT KEDAI KOPI KENANGAN MALL OF INDONESIA

: This study aims to analyze the relationship between product value, service quality and customer satisfaction to customer loyalty at Kopi Kenangan Mall of Indonesia. The population in this study were visitors who came to the Kopi Kenangan Mall of Indonesia from May to June 2021 and the number of samples used for the study were 200 customers that visited Kopi Kenangan Mall of Indonesia. All samples were taken by filling out a questionnaire and distributed with convenience sampling method. Data collection through questionnaires was analyzed using PLS-SEM. The results of this study showed a positive relationship between product values and customer satisfaction, a positive relationship between service quality and customer satisfaction, a positive relationship between product values and customer loyalty, a positive relationship between service quality and customer loyalty and a positive relationship between customer satisfaction and customer loyalty. Based on the results of the study, it can be concluded that customer loyalty is positively influenced by customer satisfaction and increasing product value and service quality can increase customer satisfaction.


Introduction
Competition in business is something that should be considered for every company, especially with the presence of globalization. Competition requires business people to create superior goods or services and maintain profits so that the company is able to survive or compete in a tight market. According to (Reichheld & Sasser, 1990), when a company retains its customers, profits will increase. In this case, (Delgado et al., 2011)also argues that customer loyalty is a valuable asset for companies that are needed to maintain and maintain good relationships with customers. Regular customers and profits are always seen as two things that are mutually sustainable in order to survive long in the competition. Therefore, maintaining customer loyalty is important for the sustainability of a company.
Competition in various industrial fields also affects the coffee business. Coffee shops have become a necessity for modern society in the era of globalization. The coffee shop is considered the third comfortable place after the home as a residence and the office as a place of work for the Indonesian people. Someone spends and spends most of their time-consuming coffee because coffee shops can apparently be used for various purposes (Lee et al., 2018). Coffee consumption has become a lifestyle, it is not surprising that many coffee shops have started to appear to offer Indonesian coffee.

Study of Literature and Hypotheses
The relationship between product value and customer satisfaction Product value is one of the measuring tools to determine the level of customer satisfaction. The relationship between product value and customer satisfaction is closely related because it can influence customer decisions to consume the products offered (Gunawan & Azhar, 2020). Customers feel satisfied if the value of the product received matches or even exceeds their expectations. Conversely, customers will feel disappointed when the value of the product received is less or below expectations (Apriyani & Sunarti, 2017). The increasing value of the product will of course also affect the competition in the culinary industry, especially coffee products which are increasingly spread out at this time. This is supported by the statement of (Daryanto, 2014) that customer satisfaction is a condition if the product value is in accordance with customer needs or expectations.

Hypothesis 1: Product value has a positive effect on customer satisfaction
The relationship between service quality and customer satisfaction Service quality is an effort to fulfill consumer needs and desires according to consumer expectations to increase satisfaction (Tjiptono, 2016). According to Mayasari (2011), service quality is one of the determining or dominant variables in determining customer satisfaction. Good service quality will result in high satisfaction. Meanwhile, dissatisfaction can be a reason to move or stop buying. This is also in accordance with Tjiptono (2016) that in maintaining relationships with consumers, manufacturers do not only rely on product quality but also provide the best quality service for accumulative satisfaction which ultimately meets customer expectations. So the second hypothesis proposed is:

Hypothesis 2: Service quality has a positive effect on customer satisfaction
The relationship between product value and customer loyalty Kotler et al. (2016) state that the relationship between product value and consumer loyalty is very close because customer loyalty is obtained when customers feel satisfied with the value of the product and the quality of services provided. This is also supported by Afnina & Hastuti (2018) that customers become loyal because of the perceived satisfaction with the value of the product. Product value can be met if a business can provide all the attributes attached to the product in accordance with or exceeding customer expectations. A good product value will also create good relationships with customers and in the long term, this good relationship will help the company to understand the customer's expected needs and provide benefits for the company (Kotler et al., 2016) So the third hypothesis proposed is:

Hypothesis 3: Product value has a positive effect on customer loyalty
The relationship between service quality and customer loyalty According to Griffin, R;Moorhead, 2016) before becoming a loyal customer, consumers have made a conclusion about the quality of service they feel. Kotler (2003) suggests that good service will create good relationships with customers and become the basis for consumers to decide to repurchase in the future. Delgado et al. (2011) also argue that when consumers receive better service quality, it will increase their loyalty to product providers because the higher the service quality, the higher the satisfaction felt by customers and customer loyalty will be created. So the third hypothesis proposed is: Hypothesis 4: Service quality has a positive effect on customer loyalty The relationship between customer satisfaction and customer loyalty According to Chiguvi (2016), customers become loyal when they feel satisfied with a product or service that meets expectations. In this case, Kartajaya (2016) explains that satisfied customers want to have a high potential to be loyal to a product or service that begins with excellent service. In addition, satisfied consumers will buy more and also recommend products to their relatives (Rahmawati, 2017). To generate satisfaction, companies must be able to sell goods or services with value and service quality in accordance with consumer expectations because when customers are satisfied there will be a good relationship between producers and consumers which is the basis for loyal and repeat purchases (Hidayat, 2017). So, the fifth hypothesis proposed is: Hypothesis 5: Customer satisfaction has a positive effect on customer loyalty

Research Method
The This research was conducted to examine the relationship between product value and service quality on customer satisfaction and loyalty at Kedai Kopi Kenangan Mall of Indonesia. The independent variables in this study are product value, service quality. The dependent variable is customer loyalty, while customer satisfaction acts as an intervention variable. The research was conducted quantitatively with the type of explanatory research to determine the extent of the relationship between cause and effect. The unit of analysis in this study is the individual as a customer of Kopi Kenangan products that has been determined in number. The target population is all customers of Kedai Kopi Kenangan which is located in Mall of Indonesia, Kelapa Gading sub-district, North Jakarta area. In this research, the minimum number of samples based on the recommendation of the sample theory by Kock & Hadaya (2018), namely The Inverse Square Root Method as many as 160 respondents. Thus, the accumulated sample was rounded up to 200 respondents. The sampling technique used is convenience sampling which is included in the nonprobability sampling method. The study took place from May to June 2021.
The data collection method was carried out by distributing questionnaires and filled in by respondents consisting of all visitors to the MOI Kenangan Coffee shop. Then, the data were analyzed using a structural equation modeling (SEM) model with the help of the SmartPLS version 3.3.3 program. Each item of the questionnaire measures the role of product value, service quality, and customer satisfaction on customer loyalty using dimensions. The product value dimensions consist of emotional values, social values and functional values taken from Sweeney & Soutar (2001). Furthermore, the dimensions of service quality and customer satisfaction are taken from Tjiptono (2016) including the dimensions of service quality which consist of physical evidence (tangibles), reliability, responsiveness, assurance, and empathy as well as dimensions of customer satisfaction consisting of expectations, performance, comparison, and confirmation. The customer loyalty dimension is taken from Genoveva (2017) and consists of four dimensions, namely repeat purchase, cross selling, recommendation, and retention. All items for the construct of product value, service quality, customer satisfaction, and customer loyalty are the result of scale development. The measurement of the questionnaire items used a 5-point Likert scale, namely 1 = strongly disagree, 2 = disagree, 3 = neutral, 4 = agree, and 5 = strongly agree. Furthermore, the instrument was tested for validity and reliability by statistical analysis of PLS-SEM at the measurement model stage (outer model) and structural model (inner model). In the measurement model, convergent validity was measured by calculating the average variance extraction (AVE), outer loading and discriminant validity. The instrument meets the validity requirements if the AVE value is > 0.5, the outer loading > 0.7 and the discriminant validity must meet the Fornel-Larcker criteria, namely the AVE square root value must be greater than the correlation value between variables (Hair et al., 2017) After that, a reliability test is calculated with a composite reliability value that must be greater than 0.7 (Hair et al., 2017;Imam, 2011). Furthermore, the structural model is the stage for calculating collinearity, R 2 , f 2 , and hypothesis testing.

Results
The profile of the respondents showed that the majority of respondents were man as many as 106 people (53%) and the remaining 94 people (47%) stated that they were woman. The age of the respondents varied from < 20 years to > 40 years. Most of the respondents in this study stated that they were aged 21-30 years, as many as 80 respondents (40%). Then, respondents who have unmarried status are 117 respondents (58.5%). Meanwhile, 83 respondents (41.5%) stated that they had married status. The majority of respondents, namely Bachelor Degree as many as 75 people (37.5%) and 78 people (39%) in this study stated that they had jobs as private employees.

Measurement Model (Outer Model)
The measurement model was carried out to test the validity and reliability of the model by calculating convergent validity, discriminant validity and composite reliability (Ghozali & Latan, 2015). Hair et al. (2014) stated that ideally the outer loading of each indicator item is ≥ 0,7, Hair et al. (2014) also stated that the outer loading value between 0.4 to 0.7 can still be used as long as the AVE value is > 0.5. Meanwhile, the AVE value meets the criteria if the AVE value of each variable is ≥ 0,5 (Uce, n.d.).
The results of data processing in Table 2 below show that the indicators in each dimension have an outer loading value of ≥ 0,7, so it can be said that all indicators meet the requirements and can be analyzed further. In accordance with the AVE criteria, a variable is said to be valid when the AVE value is 0.50, which means that each latent variable must be able to explain each indicator at least 50% (Imam, 2011). The calculation results also show that the AVE value ranges from 0.729 to 0.911, which means that all latent and manifest variables meet the AVE criteria and are able to explain more than half of the variance of the indicators. Furthermore, the reliability test was carried out by calculating the composite reliability (CR). Based on data processing to test the validity of the discriminant analysis, the results of the calculation of the CR value are between 0.843 to 0.954 for each variable and indicator. These results indicate that the CR value is in accordance with the criteria, namely > 0.7. Therefore, all variables can be declared to have high reliability and the analysis process can be continued. Furthermore, the discriminant validity test was carried out using the Fornell-Larcker criteria, namely the square root value of AVE must be greater than the value of the relationship between variables (Hair et al., 2014). Based on testing using Fornell-Larcker, it can be seen in Table 3 that the relationship between each item and its own variable shows a higher number than the correlation value with other variables. So, all items can be used for the next analysis process.

Structural Model (Inner Model)
The structural model performs tests on multicollinearity, R 2 , f 2 , and hypothesis testing. Multicollinearity testing was carried out using the Variance Inflation Factor (VIF) value to determine whether there was a tendency for collinearity in the relationship between the existing independent variables. Hair et al. (2014) explained that the VIF value must be less than 5. If it is more than 5, then the research model has multicollinearity constraints. The test results in Table 4 below show that there is no collinearity because all VIF values are below 5. Measurement of R 2 is carried out to determine the extent to which the independent variable explains the dependent variable. Hair et al. (2014) explains that the coefficient of determination (R 2 ) is never negative and ranges from 0 to 1 (0 ≤ R 2 ≤ 1). In this case, the coefficient value is categorized as getting better if the R 2 value is close to 1 (Ghozali, 2014). Based on Table 5, the results of the R 2 test of customer satisfaction are 0.687 (68.7%). That is, the existence of the customer satisfaction variable can be explained by the value of the product and service quality of 68.7%, while the rest is explained by other factors beyond this study. The next R 2 test is on customer loyalty which is influenced by product value, service quality, and customer satisfaction. The value of the coefficient of determination on customer loyalty is 0.838 (83.8%). In this case, the existence of the customer loyalty variable can be explained by the value of the product and the quality of service of 83.8% and the rest is influenced by other factors beyond this study. Thus, based on the results of R 2 data management, the independent variables of product value and service quality have a strong ability to explain customer satisfaction and loyalty. Further, the f 2 measurements are shown in Table 6 below. Hair et al. (2014) explains that the value of f 2 with a value of 0.02 is declared small, a value of 0.15 is declared moderate, and a value of 0,35 is declared large. The results of data processing show that the customer satisfaction variable has a f 2 value of 0.842, which means that the variable has a large effect. While the variable value of product and service quality shows f 2 values of 0,095 and 0,024 which indicates that these two variables have little effect. In this case, it can be seen that the variables of product value, service quality, and customer satisfaction have a contribution to explain the variable of customer loyalty. Hypothesis testing in this study uses path coefficient values and p-values. The rules of thumb used in this study are p-values <0.05 which concludes that there is a significant effect between the independent variable and the dependent variable. Through the results of data processing, the level of significance of the relationship is also obtained to see whether the hypothesis is significant or not.
Based on Table 7 below, it is known that the results of testing the first hypothesis show that the path coefficient value of the product value variable is +0.308 with a p-value of 0.000 which is in accordance with the conditions for the p-values < 0.05. Hence, it can be concluded that the value of the product has a positive effect on customer satisfaction. The second hypothesis states that the path coefficient of the service quality variable is +0.574 with p-values of 0.000. So, it can be said that service quality has a positive effect on customer satisfaction. Furthermore, the third hypothesis on the results of testing the product value variable on customer loyalty is +0.207 with p-values of 0.000 where the p-values show < 0,05 which means that the third hypothesis is supported because there is a positive influence between product value on the level of customer loyalty. The fourth hypothesis explains that the coefficient value of the service quality variable is +0.291 with p-values of 0.008. This also shows that service quality is supported by a positive influence on customer loyalty. The fifth hypothesis states that the coefficient value of the customer satisfaction variable is +0.671 with p-values of 0.000 according to the p-values < 0.05. Based on the results of hypothesis testing, it can be concluded that customer satisfaction has a positive effect on customer loyalty.
The relationship between variables can be assessed through the path coefficient column, while the level of significance can be assessed through the p-values column, as follows:

Discussion
The results of testing the first hypothesis (H1) show that the value of the product has a positive influence on customer satisfaction is supported. An increase in product value will also increase customer satisfaction. The results of this test are in line with Gunawan & Azhar (2020) that the relationship between product value and customer satisfaction is very closely related because it can affect customer satisfaction to consume the products offered. Customers will be satisfied if the value of the product received matches or even exceeds their expectations. On the other hand, customers will be disappointed if the value of the product received is less or below expectations (Afnina & Hastuti, 2018). The increasing value of the product will of course also affect the competition in the culinary industry, especially coffee products which are increasingly spread out at this time. This result is also in line with the statement put forward by (Daryanto, 2014) that customer satisfaction is a state when the value of the product is as needed and expected by the customer.
The results of testing the second hypothesis (H2) that service quality has a positive influence on customer satisfaction is supported. This result is also in line with Tjiptono (2016) which states that service quality is an effort to fulfill needs that are customized to consumer expectations to increase satisfaction. Mayasari (2011) also state that service quality is one of the determining variables in determining customer satisfaction. The results of this test are also in line with Tjiptono, (2016) who argues that in maintaining relationships with customers, manufacturers do not only focus on product quality but also focus on quality services for accumulative satisfaction, because if the service received is in line with expectations, the service quality is perceived as good and satisfying.
The results of testing the third hypothesis (H3) indicate that the value of the product has a positive influence on customer loyalty is supported. The results of the study are also in accordance with the opinion of Kotler et al. (2016) that the relationship between product value and consumer loyalty is very close because loyalty can be obtained when customers feel satisfaction with the value of the product and the quality of services provided. In addition, the results of this test are also supported by Kotler et al. (2016) who explain that a good product value will create good relationships with customers and in the long term this good relationship will help the company to understand the customer's expected needs and provide benefits for the company. The better the value of a given product, then the customer is more satisfied with the product and if the satisfaction is fulfilled then customer loyalty will also be fulfilled. The results of this study also support the opinion of Apriyani & Sunarti (2017) that customers become loyal because of the perceived satisfaction with the value of the product.
The results of testing the fourth hypothesis (H4) indicate that service quality has a positive influence on customer loyalty is supported. The results of this study are in line with Delgado et al., (2011) who explain that when consumers receive better service quality, it will increase their loyalty to product providers. In addition, the results of the study support the opinion of Griffin, R; Moorhead (2016) regarding the concept of customer loyalty, namely before becoming a loyal customer, consumers have made a conclusion about the quality of service they feel. This is also in line with Kotler (2003) which explains that good service will create good relationships with customers and become the basis for consumers to decide to repurchase in the future.
The results of testing the fifth hypothesis (H5) indicate that customer satisfaction has a positive influence on customer loyalty is supported. In this case, it is in line with Chiguvi (2016) which explains that customers become loyal when there is a sense of satisfaction with a product or service that has met or exceeded their expectations. These results also support the opinion of Kartajaya (2016) that satisfied customers usually have great potential to be loyal to a product or service that begins with excellent service. In addition, Rahmawati (2017) also agrees that satisfied consumers will buy more and also recommend products to their relatives. The results of the study are also in accordance with Hidayat (2017) which explains that when customers are satisfied, a good relationship between producers and consumers will be formed,

Conclusion
This study was conducted to see how product value, service quality, and customer satisfaction affect customer loyalty at Kedai Kopi Kenangan Mall of Indonesia. The results of hypothesis testing show that the value of the product has a positive influence on customer satisfaction. This shows that an increase in product value will also increase customer satisfaction. Service quality has a positive influence on customer satisfaction. This shows that an increase in service quality will also increase customer satisfaction. Product value has a positive influence on customer loyalty. This shows that an increase in product value will also increase customer loyalty. Service quality has a positive influence on customer loyalty. This shows that increasing service quality will also increase customer loyalty. Customer satisfaction has a positive influence on customer loyalty. This shows that increasing satisfaction will also increase customer loyalty.