Importance of Market Analysis

Oct 13, 2025 by vinooalluri.com 134 views

Introduction

In today's competitive market, understanding the factors that influence consumer behavior is crucial for businesses to succeed. The Medan hairos water park, a popular destination for residents and students, is no exception. This study aims to analyze the influence of key factors, namely products, prices, and promotions, on the interest of students of the Faculty of Cultural Sciences, University of North Sumatra to return to visiting Hairos Water Park Medan.

Understanding the Importance of Product, Price, and Promotion

Product, price, and promotion are the three Ps of marketing, which play a significant role in influencing consumer behavior. A product that meets the needs and wants of consumers is essential for building customer loyalty. Prices that are competitive and affordable can also influence consumer purchasing decisions. Promotions, such as discounts and special offers, can create a sense of urgency and encourage consumers to make a purchase.

Research Methods

This study uses a quantitative approach with a descriptive design and statistical analysis. The research population consists of all students of the Faculty of Cultural Sciences, University of North Sumatra. A purposive sampling technique was used to select samples based on certain criteria, namely students who have visited Hairos Water Park Medan at least once.

Data analysis was conducted using multiple linear regression methods, which include the R2 determination coefficient test, simultaneous significance test (F-test), and partial significance test (T-test).

Results and Discussion

The results of this study show that there was a positive and significant influence of product variables, prices, and promotions on students' interest in visiting Hairos Water Park Medan.

Simultaneous Influence (F-test)

The F test results show that product, price, and promotion variables together have a positive and significant influence on the interest in visiting. This indicates that the three variables together are able to explain variations in the interest in visiting.

Partial Influence (t-test)

The t test shows that the price variable has a dominant influence on the interest in visiting. This suggests that prices are the most important factors in influencing students' decisions to return to visiting Hairos Water Park Medan.

Adjusted R Square Value

The Adjusted R Square value of 0.656 shows that 65.6% variations in the interest in visiting can be explained by product, price, and promotion variables. The rest, 34.4%, can be explained by other factors that are not examined in this study.

Conclusion

This study shows that product, price, and promotion factors have an important role in building visitor loyalty at Hairos Water Park Medan. Of the three factors, prices have the most dominant influence on the interest in visiting.

Recommendation

Based on the results of this study, several recommendations can be given to the Manager of Hairos Water Park Medan:

Maintaining Product Quality

Maintaining the quality of existing rides and facilities, as well as continuing to innovate by presenting interesting new rides, is essential for building customer loyalty.

Determine the Right Price Strategy

Paying attention to student purchasing power by determining competitive and affordable prices is crucial for influencing consumer purchasing decisions.

Improving Promotional Strategies

Running effective and attractive promotional programs for students, such as student discounts, visit packages, and cooperation with student organizations, can create a sense of urgency and encourage consumers to make a purchase.

Importance of Market Analysis

This study shows the importance of conducting market analysis to understand the factors that influence consumer behavior. By understanding these factors, tour managers can determine the right strategy to increase interest in visiting and maintain visitor loyalty.

Final Notes

Through a deeper understanding of students' preferences and needs, Medan's Hairos Water Park can continue to grow and become a more attractive and fun water tourism destination for its visitors.

Limitations of the Study

This study has several limitations, including the use of a purposive sampling technique, which may not be representative of the entire population. Additionally, the study only examined the influence of product, price, and promotion variables on students' interest in visiting Hairos Water Park Medan.

Future Research Directions

Future research can build on this study by examining the influence of other factors, such as location and accessibility, on students' interest in visiting Hairos Water Park Medan. Additionally, the study can be replicated in other contexts to examine the generalizability of the findings.

Implications for Practice

The findings of this study have several implications for practice. Tour managers can use the results of this study to develop effective marketing strategies that take into account the preferences and needs of their target market. By understanding the factors that influence consumer behavior, tour managers can increase interest in visiting and maintain visitor loyalty.

Conclusion

In conclusion, this study shows that product, price, and promotion factors have an important role in building visitor loyalty at Hairos Water Park Medan. The study provides several recommendations for tour managers, including maintaining product quality, determining the right price strategy, and improving promotional strategies. The study also highlights the importance of conducting market analysis to understand the factors that influence consumer behavior.

Introduction

In our previous article, we discussed the importance of product, price, and promotion in building visitor loyalty at Hairos Water Park Medan. We also presented the results of a study that examined the influence of these factors on students' interest in visiting the park. In this article, we will answer some of the most frequently asked questions about the study and its findings.

Q: What was the purpose of the study?

A: The purpose of the study was to examine the influence of product, price, and promotion on students' interest in visiting Hairos Water Park Medan.

Q: Who was the target population of the study?

A: The target population of the study was all students of the Faculty of Cultural Sciences, University of North Sumatra.

Q: What was the sampling technique used in the study?

A: A purposive sampling technique was used to select samples based on certain criteria, namely students who have visited Hairos Water Park Medan at least once.

Q: What was the data analysis method used in the study?

A: Multiple linear regression methods were used to analyze the data, including the R2 determination coefficient test, simultaneous significance test (F-test), and partial significance test (T-test).

Q: What were the findings of the study?

A: The study found that there was a positive and significant influence of product variables, prices, and promotions on students' interest in visiting Hairos Water Park Medan. The price variable was found to have a dominant influence on the interest in visiting.

Q: What are the implications of the study for practice?

A: The study has several implications for practice. Tour managers can use the results of this study to develop effective marketing strategies that take into account the preferences and needs of their target market. By understanding the factors that influence consumer behavior, tour managers can increase interest in visiting and maintain visitor loyalty.

Q: What are the limitations of the study?

A: The study has several limitations, including the use of a purposive sampling technique, which may not be representative of the entire population. Additionally, the study only examined the influence of product, price, and promotion variables on students' interest in visiting Hairos Water Park Medan.

Q: What are the future research directions?

A: Future research can build on this study by examining the influence of other factors, such as location and accessibility, on students' interest in visiting Hairos Water Park Medan. Additionally, the study can be replicated in other contexts to examine the generalizability of the findings.

Q: What are the recommendations for tour managers?

A: Based on the results of this study, several recommendations can be given to the Manager of Hairos Water Park Medan:

Maintaining product quality
Determining the right price strategy
Improving promotional strategies

Q: What is the importance of market analysis?

A: This study shows the importance of conducting market analysis to understand the factors that influence consumer behavior. By understanding these factors, tour managers can determine the right strategy to increase interest in visiting and maintain visitor loyalty.

Q: What are the final notes?

A: Through a deeper understanding of students' preferences and needs, Medan's Hairos Water Park can continue to grow and become a more attractive and fun water tourism destination for its visitors.

Conclusion

In conclusion, this Q&A article provides answers to some of the most frequently asked questions about the study and its findings. The study highlights the importance of product, price, and promotion in building visitor loyalty at Hairos Water Park Medan. The study also provides several recommendations for tour managers and highlights the importance of conducting market analysis to understand the factors that influence consumer behavior.