Cost Perception and Brand Image Effects on PSMM Intention to Choose Mediated by Perceived Value (Study at Udayana University)

Abstract

The current phenomenon shows low participation by Balinese people in master's education, as reflected in the relatively low intention of prospective students to enroll in the Master of Management Study Program (PSMM) at Udayana University. This condition is paradoxical, given that PSMM Udayana University has superior accreditation and a strong institutional reputation. However, the number of active students is still lower than that of several other universities in Bali, including private universities with higher tuition fees. The purpose of this study is to analyze the influence of perceived cost and university brand image on the intention to choose PSMM Udayana University, with perceived value as a mediating variable. A quantitative approach was used with the Theory of Planned Behavior (TPB) as the theoretical basis. The sample consisted of 100 respondents who were Diploma IV (DIV) and Bachelor (S1) graduates in Bali Province, selected using a purposive sampling method. Data were collected via questionnaires and analyzed using Partial Least Squares (PLS) Structural Equation Modeling. The results of the analysis indicate that perceived cost and university brand image have a positive and significant effect on the intention to choose and perceived value. Perceived value has a positive and significant effect on the intention to choose PSMM at Udayana University. Perceived value has been shown to mediate the effects of perceived cost and university brand image on the intention to choose PSMM, with partial mediation in complementary directions. Theoretically, these findings strengthen the relevance of the Theory of Planned Behavior in the context of higher education consumer behavior. In practice, the analysis provides recommendations for PSMM managers at Udayana University on designing cost-setting strategies and strengthening the brand image to increase perceived value and intention to choose PSMM at Udayana University