FEB Online Seminar Series: Managing Customer Value & Analysis Using SmartPLS 3.0
Bandung, Telkom University – School of Economics and Business (FEB) held the 5th episode of the Online Seminar Series on Thursday (24/9) through the Zoom Meeting application. It is an activity that is routinely carried out by every faculty at Telkom University to continue to provide positive insights during a pandemic.
The speaker for this session was a lecturer and researcher from FEB, namely Osa Omar Sharif, S.Si., M.S.M. will present the information about Managing Superior Customer Value. The second speaker also has the same profession from the School of Communication and Business (FKB), namely Citra Kusuma Dewi, Ph.D., who discussed Moderation Analysis Using Smart PLS 3.0.
Talking about Customer Value, Osa explained how far the distance between the benefits provided by a product and the total costs needed to get these benefits. To produce a product that has more value, Osa considers that producers need to anticipate and respond to consumer needs first than competitors.
“You could say that prices are not always directly proportional to value. Every day we can find products that have high value but at relatively affordable prices. The value of a product can be formed when the product can meet customer needs. The brand can also be a value when there are benefits from the brand itself for some people. “Said Osa.
The discussion from the second speaker was about the use of the Smart Partial Least Square (PLS) 3.0 applications. PLS, this is an alternative method of analysis with Variance-based Structural Equation Modeling (SEM).
“The advantage of this method is that it does not require assumptions and can be estimated with a relatively small number of samples. The tool used is the SmartPLS Version 3 program which is specifically designed to estimate structural equations based on variance,” said Citra.
When using Smart PLS to perform Moderation Analysis, Citra also describes three interaction effects that generally arise, namely: Product-Indicator Approach; Two-Stage Approach; and the Orthogonalzing Approach.