Keywords

Energizing Value, Intention to Enroll, Perceived Value, Perguruan Tinggi Swasta, Positive Emotion, Social Media Marketing, Dan WOM.

Introduction

The higher education industry in Indonesia is divided into State Universities (PTN), Private Universities (PTS) and Polytechnics. Where in 2019, there were 90% private universities, 4% state universities and 6% polytechnics. Over the last three years the number of high school graduates entering state universities has increased from 3859 in 2017 to 4515 in 2018 and finally to 5606 in 2019 (Kemenristekdikti, 2019). The phenomenon that occurs is the decline in the number of new students which decreased sharply in private universities between 2018 and 2019 by 87.2%. This decline in the number of new students is a big problem for private universities that must be solved. College Registration is called Intention To Enroll, so that if Intention to Enroll increases, then Problems in Private Universities can be helped to solve, then Intention to Enroll becomes Dependent Variable in this study.

New students are high school students aged 17 or 18 who were generally born between 2002 and 2003. They belong to Generation Z who have multitasking characteristics or are known to be able to apply all activities at one time (Kusumaningtyas et al. 2020). According to Kusumaningtyas et al. (2020) stated that generation Z is good in technological literacy. In addition, research by Santoso & Triwijayati (2018) states that generation Z has uniqueness in decision making. From previous research, the characteristics of high school students are included in this generation. Z, it can be said that in their decision-making style, Generation Z is more impulsive. Especially for short-term decision-making, this generation tends to use their emotions. However, if the decision making is related to the future, then this generation will tend to rely on the opinion of the family, as well as those closest to him. (Viswanathan & Jain, 2013). Therefore, in this study positive emotion becomes the central construct that will be tested whether it can predict the intention to enroll.

Literature Review

Previous studies regarding the intention to enroll in private universities have not included the affect factor of prospective students. Among other things, as stated by (Gottlieb & Beatson, 2018a) which states that there are very few studies involving emotional factors in the higher education industry. In a study on Intention to Enroll, it was found that high social emotion in the perception of high school students is one of the effective factors in the process of recruiting new students. (Gottlieb & Beatson, 2018a) In line with what was stated by previous research, it was found that there were still few researchers who studied the decision making of high school students in choosing a university, involving emotional factors. This finding is also supported by another study conducted by (Callejas-Albiñana et al., 2016) which states that the choices of these high school students are also influenced by the narrator who provides information, evokes emotions, and informs their perception of the reliability of the university. Thus, it also affects the choice of high school students.

There are several recent studies related to decision making for intention to enroll based on cognitive or rational factors, such as research conducted by (Le et al., 2020a), which states that university selection itself is influenced by job prospects after graduation, university reputation, costs lectures, university entry requirements, quality of teaching, scholarship opportunities, reputation of graduates, diversity of study programs offered, new student admissions process, university connections to industry, university facilities, expertise of teaching staff, location, public image, and difficulty level of the university subject. Furthermore (Yu & Wang, 2020), stated that subjective norms and attitudes affect the intention to enroll. In line with the results of the research above, Nazidin (2019) also state the same thing that behavior intention is influenced by subjective norms and attitudes. Then, with research results that are still in line, also obtained by (Luo et al., 2018) which states that attitude, subjective norm and value added service are things that affect the intention to enroll. Meanwhile, according to Simiyu, (Simiyu et al., 2020a) said that the intention to enroll was influenced by brand personality and social media. In addition, according to (Hoa & Hang, 2016) image, satisfaction, and perceived value have an effect on re-enroll intention. This research in the higher education industry was started by other researchers who raised several factors that influence high school students rationally or cognitively in choosing a university. These factors include the influence of parents and friends, accreditation, facilities, proximity to home, diversity of programs, sustainability of the programs offered, security, future job opportunities for students, and quality of service and word of mouth. In the individual's own perception there are several emotions such as relaxed, feel good, like, and pleasure that are used for direct decision making. However, in contrast to major decision making such as university selection, this is included in the decision making with a complex category. So, the emotion needed is not a momentary emotion, but a future one. So, temporary emotions such as enjoying, and being happy are not enough. Therefore, emotions that are and are future-oriented must be separated into energizing values. This has never been studied before, that emotional value does not adequately describe the emotions of high school students, in describing future-oriented decision making. Therefore, a new variable was proposed with the name energizing value. To discuss more broadly about the theory of emotion and how the decision-making process is carried out, a theory of interpersonal behavior and customer inference and consumer preference concepts is needed.

Theory of Interpersonal Behaviour

Research on affect has been started by Triandis (1977) in his research on Theory of Interpersonal Behavior stating that emotions affect affect, and affect affects intention. The theory from Triandis itself ultimately complements the theory of TPB (Theory of Planned Behavior), by adding emotion, which affects affect, which in turn affects intention.

Customer Inferences and Consumer Preferences Concepts

Then to better understand how the decision-making process itself (Derbaix & vanden Abeele, 1985) put forward the theory of customer inference and consumer preferences concepts. Where in this theory says that there is a relationship between cognitive which is consious, rational, and verbal with non-cognitive with non-consious and non-verbal nature. Therefore (Derbaix, 1985) emphasizes his research on Subconsious Emotional Foundation Behavior. The research conducted is to distinguish between cognitive (knowing), affective (feeling), and conative (action) as aspects of behavior.

Derbaix & Vanden Abeele (1985) define cognition, emotion, and conation as; Cognition which is a general term for any process that allows organisms to know and realize, which includes the process of observing, reasoning, understanding, assessing, and associating stimuli that control perception which is considered to take into account the expectations of an organism in it. Then, emotion which is a complex reaction, which consists of physiological changes from the homeostatic state. It is experienced subjectively as a feeling and is manifested in bodily changes, which are preparation for overt action. Finally, conation is a conscious and purposeful action, after being driven by emotion. The decision-making process itself starts from the cognitive or conscious process, which is then continued with the unconcious process. In the end, this process also affects the automatic response, and activates the motor response of the mental in the emotional process, which is where these emotions are generated through long-term memory. Thus, the cognitive or consious theory states that the behavior of consumers must always be cognitive, and consumer behavior can also be at the unconscious level or decisions driven by emotional factors. Positive emotion can be stimulated through a series of processes as described by the Theory of Stimuli-Organism- Response Model.

Theory of Stimuli-Organism-Response (S-O-R) Model

The Stimuli Organism Response (SOR) model is where aspects can act as stimuli (S) that affect the individual's internal state (O), which then obtains individual behavioural responses (R) (Zhai et al., 2020). The model explains how stimuli from the outside environment can strengthen the individual's inner state. The term organism itself represents the inward state of individuals which consists of individual perceptions, feelings, and thoughts. Mehrabian & Russell (1974) in their research state the classical S-O-R model, where stimuli are defined as factors that influence the internal state of individuals and can be conceptualized as influences that stimulate individuals. In addition, (Goi et al., 2018) explains that emotion as part of an organism that is influenced by cognitive so that existing affective behavior is a response function of long-term memory in cognitive. In this study, the stimuli are Social media Marketing (Digital Effects) and WOM (Non-Digital Effects), which will stimulate high school students, then will be perceived value in cognitive processes and will then be stored in long-term memory, which in turn will arouse positive emotion which in turn will encourage intention to enroll.

Social Media Marketing

Social Media Marketing is defined as an activity that uses social media, which has a positive influence on consumers to buy (Chen & Lin, 2019). Social Media Marketing can also be said as a two-way communication that draws empathy from users who are mostly teenagers, and can also encourage the same emotions at a later age. But of course this is definitely related to marketing (Kim & Ko, 2012). Finally, according to Ajima (2019), social media marketing is an online application, platform and social media that allow interaction, collaboration and content sharing.

Word of Mouth (WOM)

Word of Mouth (WOM) is defined as a source that influences interpersonal communication (Le et al., 2020b) As previously defined, according to other researchers such as Oluwafemi and Dastane (2016), WOM is an act of telling stories or sharing experiences carried out by individuals to at least one person. one of his acquaintances. WOM itself is divided into several components such as; frequency of message, reputation of messenger, richness of message, dispertion of conversation, and manner of message delivery (Shedrack Oluwafemi & Dastane, 2016) Finally, according to Bansal & Voyer (2000), WOM can also be said to be a source of information.

Perceived Valued

Perceived Value is defined as an evaluation from consumers of products and services (Zeithaml, 1988). The evaluation carried out is based on consumers' perceptions of their consideration of the sacrifices and benefits obtained from a product or service (Zeithaml, 1988), (Sánchez-Fernández & Iniesta- Bonillo, 2007) states that perceived value is often associated with construct values, utility, price, and quality. Value here is defined as the result of a person's assessment that refers to standards or rules or criteria or norms or goals or ideal situations imagined in deciding something (Holbrook, 1999). According to (Holbrook, 1999) and (Zeithaml, 1988), perceived value is also defined as an overall assessment of consumers in assessing the usefulness of a product, based on the perception of the assessment of how much benefit is received compared to the sacrifices incurred. Furthermore, (Kahneman. & Tversky, 1979) also stated in his research that perceived value theory indicates that consumer perceptions of a product play a very crucial role in making purchasing decisions. Uni-dimensional adalah satu dimensi yang dimana konsumen menilai suatu item. Sedangkan multi-dimensional adalah value yang terbentuk dari beberapa komponen untuk membentuk consumer value. In this study, the perceived value in higher education is Functional Value, Epistemic Value, Emotional Value and Social Value. These five things are also in line with (Sheth et al., 1991) which states that there are five values that influence consumer purchasing choices.

1.Functional Value is defined as the value obtained from the functional performance and quality of goods or services, utilitarian or physical.

2.Social Value is defined as the value obtained from the association of one or more certain social groups. Where this social value is obtained through associations with demographic, socioeconomic, and cultural-ethnic groups that are stereotyped positively or negatively.

3.Emotional Value is defined as the value obtained when associated with certain feelings. Emotional value itself is measured on the profile of feelings associated with alternative decision choices.

4.Epistemic Value is defined as the value obtained which arouses curiosity, provides novelty, and/or satisfies the desire for knowledge. This epistemic value is obtained from curiosity, novelty, and knowledge.

5.Conditional Value is defined as a specific condition that is set in decision making, and is usually associated with Functional Value or Social Value.

The development of this Perceived Value research started from (Kahneman. & Tversky, 1979) which was later investigated by (Holbrook, 1999), Sheth, et al. (1991), Webb and Jagon (1997), Martensen, et al. (1999), LeBlanc and Nguyen (1999), (Hermawan, 2001), (Mazzarol & Soutar, 2002) and lastly by (Alves, 2011c). In the world of higher education, (Alves, 2011c) states that there are only four dimensions in Perceived Value, namely Functional Value, Epistemic Value, Social Value and Emotional Value. Where Functional Value is a function of the quality of education compared to price, and future career goals. Then, Epistemic Value is the quality in its own teaching. Meanwhile, Emotional Value is the positive emotion that is felt when asked to choose a university. Finally, Social Value is an assessment carried out by high school students, regarding whether the university of choice was also chosen by their closest friends, and whether the university of choice has the desired community.

Alves (2011) states that Perceived Value in higher education there are 4 values that appear, namely Functional Value which compares quality and price, Epistemic Value related to teaching quality, Social Value, and the last is Emotional Value. In addition, the basic emotions that are created are also related in the world of education. Some of the basic emotions that are created are happiness, proud, and hope. Then, (Sweeney et al., 2012) stated that the basic emotions consist of relaxed, feel good, like, and pleasure. Furthermore, (Paul Ekman, 2021) states that the basic emotions can be divided into 4, namely anger, contempt, disgust, enjoyment, fear, sadness and surprise. Watson, Clark and Tellegen (1988) stated that emotions can be divided into positive and negative which are reflected in the “HEAT” scale. In this case, positive emotion consists of interested, excited, strong, enthusiastic, proud, excited, inspired, determined, attentive and active. Then, in the research of Achmadi, et al. (2020) showed an increase in emotions, after stimuli in the form of marketing presentations from universities, namely Inspired, Enthusiastic, Excited, Active and Strong. If this research is related to research conducted by Alves (2011), excited, enthusiastic, active, and strong are synonyms of happiness. Research in the field of emotions is also supported by research in the field of biotechnology conducted by (Kaur et al., 2018) which states that there is a relationship between emotions that activate behavior caused by hormones, which are activated or produced from a thought. Happy thoughts (happiness) encourage the body to produce endorphins. It is this hormone that ultimately evokes energetic and comfortable emotions, which can drive decision-making actions. So, in this study, positive emotion can be separated which is based on happy thoughts that activate energetically. If you look for similarities, energetic itself can be equated with excited, enthusiastic, active, or strong. Enthusiastic which has energetic and energetic adjectives has active adjectives. Then, Inspired has the adjective enthusiastic, which is basically an emotion that moves or activates someone to take an action. Previous studies have focused more on Emotional Value. However, especially for the Emotional Value that emerged during the university selection, this can be said to be more complex than in terms of buying goods. Therefore, we need a separation between which values can activate an impetus for decision making (Achmadi et al., 2020).

In terms of the meaning of the word, energizing can be defined as generating energy or activate. Because as Emotional Value says, with emotion value in it. According to Sweeney and Soutar (2001), Emotional Value is enjoy, relaxed, surprise, and pleasure. For that, it takes emotion that can move a person, in taking action. Therefore, the initial research conducted by Achmadi, et al. (2020) showed that high emotions after receiving a promotion from university marketing were proud, exited, active, strong, and enthusiastic. By using the Confirmatory Compsite Analysis method according to Schuberth, Henseler and Dijkstra (2018), this confirmatory composite analysis (CCA) is useful for finding structural similarities in modeling techniques that aim to test the composite model, to be able to confirm the separation of values between Emotional Value and Energizing Value.

Positive Emotion

According to Ekman (2021) basic emotions themselves can be divided into anger, contempt, disgust, enjoyment, fear, sadness, and surprise. Furthermore, (Watson et al., 1988) stated that emotions can be divided into 2, namely positive emotions and negative emotions which are described in the "PANAS" scale. This positive emotion consists of interested, excited, strong, enthusiastic, proud, excited, inspired, determined, attentive, and active. Meanwhile, negative emotions consist of distressed, upset, guilty, scared, hostile, irritable, ashamed, nervous, jittery, and afraid.

According to Seligman (2011) in his article Authentic Happiness, it has been stated that happiness itself can be divided into three elements, namely positive emotion, engagement, and meaning. People, who have these three elements in large quantities, can be said to be happier people. Happiness itself is defined as life satisfaction or satisfaction in life. Entering another section, it is said that Well-being itself has five elements called PERMA, which consists of P which stands for; Positive Emotion such as happiness and life satisfaction, E stands for Engagement, R means Relationship, M stands for Meaning and A stands for Achievement. According to Richard, Nyer & Gopinath (1999) in the final stage of the assessment to get the expected outcome or goal, and the result of the goal or pleasant result, other people need to be able to feel hope. Where, hope is an emotional reaction from the expected results or intentions to be realized, with all the necessary commitments. So that positive emotion is a consistent motive, and has a positive goal to avoid punishment.

Positive Emotion itself is born from Positive Psychology which takes you through the countryside of pleasure and satisfaction, up to a state of high power and virtue, and finally to the peak of eternal fulfillment, namely meaning and purpose (Seligman, 2011) Authentic Happiness is a book that states that happiness divided into three elements, namely positive emotion, engagement, and meaning. Positive emotions are feelings of pleasure, joy, feeling comfortable, liked. Then, engagement is an emotion that is felt like blending with the music you like or the feeling that life will feel much more meaningful if you are engaged in life, which can also be interpreted as a life that is connected with something. Finally, meaning itself can be defined as a feeling of belonging to, and serving something that is believed to be more than oneself. People who have a lot of positive emotion, engagement and meaning, can be said to live happier. In this section, happiness itself can be defined as life satisfaction or satisfaction in life.

However, research that discusses the relationship between Positive Emotion and Intention to Enroll in higher education itself is still lacking. One of the Positive Emotions that encourage decision-making actions is hope. (Bagozzi et al., 1999) stated that positive emotion is a consistent motive to achieve positive goals, such as to avoid punishment. Meanwhile, hope includes the intention to realize or facilitate the achievement of results that require commitment. According to (Bagozzi et al., 1999) in the final stage of the assessment, hope is needed, which is an emotional reaction to the expected result, to get the expected outcome or goal or a pleasant outcome. However, Positive Emotion that occurred after high school students received a stimulus in the form of a presentation from university marketing was positive emotion explained by Watson, Clark and Tellegen (1988) which stated that the positive emotion consisted of interested, excited, strong, enthusiastic, proud, alert, inspired, determined, attentive and active. In the research of Achmadi et al. (2020) showed that positive emotion increased after being given a stimulus in the form of a presentation from university marketing. So that Energizing Value can also be defined as individual perceptions, with benefits in the form of positive emotions to move, and inspire someone to be oriented to the future.

Intention to Enroll

According to Bidin et al. (2005) enrollment is the desire to attend or register at a university, to continue education which is explained from the results of graduates, from the education taken. After the word enroll itself has been defined, then the discussion continues into the definition of Intention to Enroll. Here, (Simiyu et al., 2020b) states that Intention to Enroll is a student's decision to enroll in the chosen higher education. Furthermore, according to (Gottlieb & Beatson, 2018), a high level of social emotion can effectively help universities recruit high school students at exhibitions. Finally, Nguyen and Nguyen (2016) state that there is behavioral intention which means the intention to revisit, and recommend a university to others.

Hypothesis Development

The Influence of Social Media Marketing on Functional Value

Cocosila & Igonor (2012) revealed the Perceived Value of the influence of using Twitter. Twitter itself is one of the social media platforms used by high school students to express or voice their opinions. Perceived Value that appears in the use of Twitter is utilitarian (usefulness during use), hedonic (feelings that arise during use), monetary or value of money (comparison between benefits and costs incurred), and social (perception of social status when used). . From the Perceived Value, utilitarian is something that significantly appears in the use of social media Twitter.

In addition to Cocosila & Igonor (2012), Auliarahman & Sumadi (2020) state that there is a positive and significant influence of Social Media Marketing on Perceived Value. Perceived Value referred to by (Auliarahman, 2020) is Functional Value, Emotional Value and Economic Value. In addition, (Chen & Lin, 2019) also stated that Social Media Marketing has a positive and significant effect on Perceived Value (Functional Value, Epistemic Value, Emotional Value and Social Value). Based on the three empirical studies above, it can be interpreted that Social Media Marketing has a positive effect on Functional Value. Based on the studies above, the hypotheses that can be made are as follows:

H1 Social Media Marketing has a positive effect on functional value.

The Influence of Social Media Marketing on Epistemic Value

Sheth et al. (1991) stated that Epistemic Value can be defined as utility derived from alternative capacities to arouse curiosity, provide novelty, and/or satisfy the desire for knowledge. Then, according to Kaur, et al. (2018), Epistemic Value is the value generated by obtaining information from the brand community. Kaur et al. (2018) also states that the motivation of participants in social media is information seeking, which is more precisely called Epistemic Value and Social Enhancement (Social Value). So here, Social Media Marketing is very influential on Epistemic Value to satisfy curiosity. Therefore, information seeking was carried out. Kaur, et al. (2018) said that there is a positive and significant influence of social media itself on Epistemic Value. In addition, other researchers such as Zechariah & Eissa (2019) argue that the Social Media Advertising used by consumers has an effect, and can be said to be significant on Perceived Value. Finally, Chen and Lin (2018) state that Social Media Marketing has a positive and significant effect on Perceived Value (Functional Value, Epistemic Value, Emotional Value and Social Value). Based on the three empirical studies above, it can be interpreted that Social Media Marketing has a positive effect on Epistemic Value. Based on the studies above, the hypotheses that can be made are as follows:

H2 Social Media Marketing has a positive effect on Epistemic Value.

The Influence of Social Media Marketing on Emotional Value

Cocosila & Igonor (2012) reveal the Perceived Value of the influence of using Twitter. Twitter itself is one of the social media platforms used by high school students to express or voice their opinions. Perceived Value that appears in the use of Twitter is utilitarian (usefulness during use), hedonic (feelings that arise during use), monetary or value of money (comparison between benefits and costs incurred), and social (perception of social status when used). . From Perceived Value, Hedonic Value or Emotional Value significantly appears in the use of social media Twitter. In addition, other researchers such as (Auliarahman, 2020) state that there is a significant influence of Social Media Marketing on Perceived Value. Perceived Value referred to by Auliarahman & Sumadi (2020) itself is divided into Functional Value, Emotional Value, and Economic value. Then, according to Chen and Lin (2018) Social Media Marketing itself has a positive and significant effect on Perceived Value (Functional Value, Epistemic Value, Emotional Value and Social Value). So, based on the three empirical studies above, it can be interpreted that Social Media Marketing has a positive effect on Emotional Value. Based on the studies above, the hypotheses that can be made are as follows:

H3 Social media marketing has a positive effect on Emotional Value.

The Influence of Social Media Marketing on Energizing Value

When viewed from the word equation, energizing is active and active or activation can be equated with motivate. While Energizing Value itself is defined as an individual's perception of the positive emotion he feels to move and inspire that person, and is oriented to the future. So, energizing itself can be interpreted as positive emotion that motivates or moves someone to take an action. As stated by (Richardson et al., 2012), that motivation is an individual's ability to persist during difficult tasks, and the efforts he expends to complete the task. Motivation is also an important thing that drives success in academics, and this is positively influenced by the use of social media (Barton et al., 2021) Likewise with the statement (Mazer et al., 2007) which says that students' motivation in social use The media have an impact on students' motivation in choosing universities and in learning activities. So, based on the three empirical studies above, it can be interpreted that Social Media Marketing has a positive effect on Energizing Value. So, based on the studies above, the following hypotheses can be made:

H4 Social media marketing has a positive effect on Energizing Value.

The Influence of Social Media Marketing on Social Value

Cocosila & Igonor (2012) reveal the Perceived Value of the influence of using Twitter. Twitter itself is one of the social media platforms used by high school students to express or voice their opinions. Perceived Value that appears in the use of Twitter is utilitarian (usefulness during use), hedonic (feelings that arise during use), monetary or value of money (comparison between benefits and costs incurred), and social (perception of social status when used). From Perceived Value, significant Social Value itself appears in the use of social media Twitter.

Kaur, et al. (2018), states that the motivation of participants in Social Media Advertising is information seeking, which is more accurately described as Epistemic Value and Social Enhancement (Social Value). This shows that the influence of social media is significant on Perceived Value (Social Value). Kaur et al. (2018), also states that the use of social media in Social Value is Social Engagement and Social Interaction. Furthermore, according to Chen & Lin (2018), Social Media Marketing itself has a positive and significant effect on Perceived Value (Functional Value, Epistemic Value, Emotional Value and Social Value). Based on the three empirical studies above, it can be interpreted that Social Media Marketing itself has a positive effect on Social Value. So, based on the studies above, the hypotheses that can be made are as follows:

H5 Social media marketing has a positive effect on social value.

The Influence of WOM on Functional Value

Kawakami et al. (2013a) states that WOM has a significant effect on Perceived Availability. (Shi et al., 2016) also stated that positive WOM itself had a significant effect on expectations (an assessment of the reliability of a product). Furthermore, research on WOM was continued by (Hanum et al., 2020) who stated that WOM had a significant effect on Perceived Value (Epistemic Value, Functional Value, Emotional Value and Social Value). Based on the three empirical studies above, it can be interpreted that WOM has a positive effect on Functional Value. So, based on this, the following hypothesis can be formulated:

H6 WOM has a positive effect on Functional Value.

The Influence of WOM on Epistemic Value

Epistemic Value in higher education is the quality of the teaching given or offered (Alves, 2011c). Thus, the hypothesis that is built is the relationship between WOM and quality assessment. The influence of offline WOM itself can be seen from the activities of high school students in searching for information from family, friends, and directions from the supervising teacher. Sessa (2018) states that the source of information from Word of Mouth (WOM) on the choice of college from high school students in higher education has a greater and more significant influence than electronic Word of Mouth (e-WOM). Susilowati & Sugandini (2018) state that traditional WOM has a significant effect on Perceived Quality. This also supports research conducted by Oluwafemi & Dastane (2016), which states that WOM has a significant positive effect on Perceived Value (Epistemic Value and Emotional Value). Where the factors that influence WOM are divided into five factors namely, the frequency of the message, the reputation of the messenger, the richness of the message, the scope of the conversation and the way it is delivered. Hanum et al. (2020) states that WOM has a significant effect on Perceived Value (Epistemic Value, Functional Value, Emotional Value and Social Value). So, based on the three empirical studies above, it can be interpreted that WOM itself has a positive effect on Epistemic Value. So, based on this, the following hypothesis can be formulated:

H7 WOM has a positive effect on Epistemic Value.

The Influence of WOM on Emotional Value

Oluwafemi & Dastane (2016) stated that WOM had a significant positive effect on Perceived Value (Epistemic Value and Emotional Value). Meanwhile (Susilowati & Sugandini, 2018) states that there is a significant traditional WOM influence on Perceived Quality. Where all quantitative and qualitative values (which can be felt, or Emotional Value) are included in Perceived Quality. Hanum et al. (2020) also states that WOM has a significant effect on Perceived Value (Epistemic Value, Functional Value, Emotional Value and Social Value). So, based on the three empirical studies above, it can be interpreted that WOM has a positive effect on emotional value. Based on this, the following hypothesis can be formulated:

H8 WOM has a positive effect on emotional value.

The Influence of WOM on Energizing Value

This study was aimed at respondents of high school students who are part of generation Z. (Kantorová et al., 2017) in his research said that WOM from friends in this generation greatly influenced the choice of university studies. This opinion is supported by Köse1 and zgen (2020), which state that the influence of friends is an important predictive factor of Emotional Value, which can move a person to make decisions in terms of choosing a university for the future. In addition, according to Hanum et al. (2020), WOM itself has a positive and significant effect on Perceived Value. As the definition of Energizing Value discussed earlier, this is a positive emotion that drives or motivates decision-making actions. According to research conducted by Richardson, Abraham & Bond (2012), motivation itself is defined as an activity that is sought or attempted. Then, according to Susilowati & Sugandini (2018), WOM itself has a positive influence on Perceived Value. Where the Perceived Value referred to here are all factors that are considered to be able to encourage decision-making actions. So, based on this, the following hypothesis can be formulated:

H9 WOM has a positive effect on Energizing Value.

The Influence of WOM on Social Value

According to Kawakami et al. (2013b) states that p-WOM (positive WOM) has a significant effect with a value of 0.36 on Perceived Availability. This is due to the existence of strong social ties, which encourage individuals to take decision-making actions. (Agustiani et al., 2017), states that WOM has a positive and significant effect on the image of higher education universities. This image itself can be assessed as a Social Value, where when high school students enter it, they can feel proud because they can be accepted at the university. In addition, Hanum et al. (2020) also states that WOM itself has a significant effect on Perceived Value (Epistemic Value, Functional Value, Emotional Value and Social Value). Based on the three empirical studies above, it can be interpreted that WOM itself has a positive effect on Social Value. So, based on this, the following hypothesis can be formulated:

H10 WOM has a positive effect on social value.

The Influence of Functional Value on Positive Emossion

Hall et al. (2016) stated that Perceived Progress has a positive and significant effect on hope and enjoyment. Fazal-e-Hasana, et al. (2018) states that there will be an influence of Perceived Value (price) on hope. Where Li, et al. (2020) also stated that the positive emotions in higher education are happiness, pride and hope. In addition, (Stephanou et al., 2011) states that Perceived Value in this case is task difficulty which has a positive and significant effect on happiness, pride, hope, enthusiasm), all of which are included in positive emotion. Meanwhile, (Ahn & Kwon, 2020) also made a statement that Perceived Value (Economic, Social, Hedonic, and Altruistic) had a significant effect on Positive Anticipated Emotion. So, based on the three empirical studies above, it can be interpreted that Functional Value has a positive effect on Positive Emotion. Based on the studies above, the hypotheses that can be made are as follows:

H11 Functional Value has a positive effect on Positive Emotion.

The Influence of Epistemic Value on Positive Emossion

Quin et al. (2017) stated that the influence of Perceived Value in the form of teaching quality on Emotional Engagement. Fazal-e-Hasana, et al. (2018) states that there will be an influence of Perceived Value quality on hope. In addition, Ahn & Kwon (2020) also state that Perceived Value (Economic, Social, Hedonic, and Altruistic) has a significant effect on Positive Anticipated Emotion. So, based on the three empirical studies above, it can be interpreted that Epistemic value has a positive effect on Positive Emotion. Based on the studies above, the hypotheses that can be made are as follows:

H12 Epistemic Value has a positive effect on Positive Emotion.

The Influence of Emotional Value on Positive Emotion

Fazal-e-Hasan et al. (2018) states that there will be an influence of Perceived Value Quality on hope. In addition, Ahn and Kwon (2020) also state that Perceived Value (Economic, Social, Hedonic, and Altruistic) has a significant effect on Positive Anticipated Emotion. On the other hand, Strauss and Allen (2006) in their research also state that happiness itself is related to Hi-Positive-Rating Words perceived by the brain. So, based on the three empirical studies above, it can be interpreted that Emotional Value has a positive effect on Positive Emotion. So, based on the studies above, the following hypotheses can be made:

H13 Emotional value has a positive effect on positive emotion.

The Influence of Energizing Value on Positive Emotion

Motivation is the equivalent of active or activation which is also the equivalent of Energizing Value. Motivation and action plan itself is an element in construct hope, which can also be interpreted as a driving factor used to make a purchase. According to Fazal-e-Hasana, et al. (2018), hope itself has a positive and significant effect on Positive Emotion. Followed by (Stephanou et al., 2011) he said that the focus of student motivation is the positive emotion that is created. When viewed from the perspective of this research, it can be said that perceived value has a positive and significant effect on Positive Emotion (Enthusiasm). Enthusiasm itself is one of the existing indicators of Energizing Value. So, based on the studies above, the following hypotheses can be made:

H14 Energizing Value has a positive effect on Positive Emotion.

The Influence of Social Value on Positive Emotion

Quin, Hemphil & Heerde (2017) state that family support has an effect on Perceived Value in the Emotional Engagement section. Fazal-e-Hasana et al. (2018) states that Perceived Value Quality is very influential on hope. In addition, Ahn & Kwon (2019) also state that there is a significant influence between Perceived Value (Economic, Social, Hedonic, and Altruistic) and Positive Anticipated Emotion. So, based on the three empirical studies above, it can be interpreted that Social values have a positive effect on Positive Emotion. So, based on the studies above, the following hypotheses can be made:

H15 Social Value has a positive effect on Positive Emotion

The Influence of Positive Emotion on Intention to Enroll

Janet Yang et al. (2010) stated that Positive Emotion, with an optimistic dimension, has an effect on Intention to Enroll Behavior. Where, if the existing positive emotion increases, the Intention to Enroll will also increase. So from this it can be said that positive emotion itself has a significant influence on Behavior Intention to Enroll Behavior. This result is reinforced by research conducted by (Bonesso et al., 2018) which states that the Emotion Competencies Index has a significant effect on Entrepreneurial Intention. (Perrin, 2009) also stated that positive and negative emotions were significant on behavior intention. So, based on the three empirical studies above, it can be interpreted that Positive Emotion itself has a significant influence on Intention to Enroll. So, based on this, the following hypothesis is formulated:

H16 Positive emotion has a positive effect on intention to enrol.

Research Methology

Research Object

The object of research in this study is the theory of intention, namely Intention to Enroll. Within the conceptual framework that predicts Intention to Enroll, there are several other influencing variables, such as Social Media Marketing, WOM, Perceived Value, Positive Emotion, and Intention to Enroll.

Unit Analysis

The unit of analysis in this study is individuals who are at the high school level, or more precisely, 11th and 12th grade high school students throughout Indonesia, who wish to continue their studies at university. Data from each individual is taken and collected to be a data source.

Research Type

This type of research is a quantitative survey of the population. This type of research is quantitative by testing hypotheses and correlations. The results of hypothesis testing itself can be generalized to the population, which is based on the time of data collection. Data is collected once and at a certain time, and in one period only. Therefore, this type of research is a cross-sectional study. This type of research based on research design considerations that use data collection at one time can be declared sufficient (Sekaran & Bougie, 2016). Then, this type of research is also a non-interventional research type, which means that there is no intervention on research data during the research period so that the questionnaire is prepared based on the research model.

Conceptual Definition and Operationalization of Variables

The main variable measured in this study is the dependent variable, which is predicted at the end of the modelling process, with mediating variables, namely Perceived Value and Positive Emotion, which are stimulated by independent variables, namely Social Media Marketing and WOM. The measurement of variables in this study uses a Likert scale, using five points, namely

(1) strongly disagree, (2) disagree, (3) neutral, (4) agree and (5) strongly agree (Sekaran & Bougie, 2016 ). By using a Likert Scale, in the end the respondent can choose one of the existing points.Conceptual definitions and operationalization of variables can be seen in Table 3.1. listed below. Tabel 3.1 Definisi Konseptual dan Operasionalisasi Variabel.

Table 1 Conceptual Definition and Operationalization of Variables
Variable	Conceptual Definition	Dimension	Operationalization of Variable	Source and Scale
Social Media Marketing	Social media marketing is defined as a commercial event or process using social media that has a positive influence on consumers to buy. (Dann, 2010)		1. Using social media from university is fun	Simiyu, Bonuke, dan Komen (2019)
			2. The content displayed on the university's social media is very interesting	Skala Likert (1-5)
			3. Social media from the university allows sharing information with friends
			4. I can share my opinion with university social media
			5. My opinion is responded to by the university's social media
			6. Social media at university allows finding the information I want
			7. Information search through university social media is complete
			8. Saya mendapat infomrasi program marketing dari Instagram Universitas
			9. Saya melihat komentar dari netizen dalam memilih jurusan
			10. Saya upload content dari social media universitas ke blog saya
WOM	WOM is defined as sources that can influence interpersonal communication (Le, Robinson and Dobele, 2020).		1. Information about the university I got from the guidance and counseling teacher	(Nsuworks & Sessa, 2017) Skala Likert (1-5)
			2. Complete information about my university can be obtained from my closest family and friends
			3. My consultation with my family encouraged me to choose university
			4. My information with friends, encourage me to choose a university
			5. My referrals with friends, make me sure of my choice of university
Perceived Value	Perceived Value defined as a consumer's overall assessment of a product based on consumer perceptions of how much is given and what is received. (Zeithaml, 1988)	Functional Value	1. I believe that the choice of program at the university guarantees my future	(Lai et al., 2012) Skala Likert (1-5)
		Functional Value	2. I quickly got a job from the university I took
		Functional Value	3. The university I choose allows me to get a good salary
		Functional Value	4. The university I took was the right investment
		Functional Value	5. Tuition fees are still affordable
		Functional Value	6. It is easy for me to get a job after graduation
		Functional Value	7. Tuition fees are still resonable according to the quality provided
		Functional Value	8. I'm sure I can get a job quickly
		Functional Value	9. I believe the choice of university is needed in the company now
		Functional Value	10. The university I chose was in accordance with my goals.
		Social Value	11. My friends choose the same university as me.
		Social Value	12. I get a pleasant social environment
		Social Value	13. The social activities I get at university are very interesting to me.
		Emotional Value	14. I feel happy when I get information from a reputable university
		Emotional Value	15. I feel like I got an interesting surprise after getting information from the promoted university
		Emotional Value	16. I feel relaxed after getting information from the promoted university
		Emotional Value	17. I feel happy to get information from promoted universities
		Emotional Value	18. I feel happy to get information from universities that match my specialization.
		Emotional Value	19. Information about universities interests me
		Emotional Value	20. I like information from promoted universities
		Epistemic Value	21. Lecture materials can be used in the workplace	(Lai et al., 2012)
		Epistemic Value	22. I am taught by qualified lecturers
		Epistemic Value	23. Lecture materials according to company needs.
		Epistemic Value	24. The university I choose attracts me to innovate.
Positive Emotion	Positive Emotion lahir dari emosi dengan kekuatan garirah positif (Lubis et al., 2018)		1. I am optimistic that I will study at the university that I want.	(Perrin, 2009) Skala Likert (1-5)
			2. If I can study at the university I want then I am interested	(Bagozzi & Dholakia, 2006)
			3. I have determined where I can study at the university that I want
			4. I am careful in choosing to study at the university that I want
			5. If I can study at the
			university I want then I am enthusiastic
			6. If I can study at the university I want then I pay attention to the promotions offered
			7. If I can study at the university I want then I'm excited
			8. If I can study at the university I want, then I am moved to choose to study at that university
			9. I feel confident in choosing the university I want.
			10. I feel inspired in choosing the university of my dreams.
Intention to Enroll	Keputusan siswa dalam enroll ke higher education yang dipilih. (Simiyu, Bonuke dan Komen, 2020).		1. I plan to apply to a promoted university	Fazal-e-Hasana et al.(2018) Skala Likert (1-5)
			2. I am interested in applying to the promoted
			university
			3. I am interested in applying to a reputable university
			4. I am interested in applying to a university with good rankings
			5. I am interested in applying to a unique university
			6. I am interested in applying to a prestigious university
			7. I am interested in applying to an innovative university

Result

.

Table 2 Hypothesis Test
Hypothesis	Path	Path Coefficient	T Statistics	Sig	Effect Size
H1	Social Media Marketing -> Functional Value	0.406	8.841	Yes	0.200 (Small)
H2	Social Media Marketing -> Epistemic Value	0.348	7.781	Yes	0.188 (Medium)
H3	Social Media Marketing -> Emotional Value	0.556	12.834	Yes	0.461 (Large)
H4	Social Media Marketing -> Energizing Value	0.453	9.407	Yes	0.266 (Large)
H5	Social Media Marketing -> Social Value	0.401	7.969	Yes	0.198 (Medium)
H6	WOM->Functional Value	0.153	3.26	Yes	0.026 (Small)
H7	WOM->Epistemic Value	0.19	3.873	Yes	0.033 (Small)
H8	WOM->Emotional Value	0.211	4.509	Yes	0.075 (Small)
H9	WOM-> Energizing Value	0.179	3.47	Yes	0.042 (Small)
H10	WOM-> Social Value	0.169	3.433	Yes	0.034 (Small)
H11	Functional Value ->Positive Emotion	0.21	4.201	Yes	0.035 (Small)
H12	Epistemic Value ->Positive Emotion	0.158	2.932	Yes	0.039 (Small)
H13	Emotional Value -> Positive Emotion	0.169	2.935	Yes	0.028 (Small)
H14	Energizing Value ->Positive Emotion	0.223	4.112	Yes	0.026 (Small)
H15	Social Value ->Positive Emotion	0.104	2.054	Yes	0.008 (Small)
H16	Positive Emotion-> Intention to Enroll	0.627	21.045	Yes	0.634 (Large)

From the results of existing data processing, f2 results obtained that Emotional Value has an influence on Positive Emotion, and has a small size effect with a value of 0.028, and is not significant. Then, Energizing Value has an effect on Positive Emotion and has a small size effect which has a value of 0.026 and is not significant. This means that the number of samples needs to be increased so that the size effect can be better and significant. This also applies to Social Value which has an influence on Positive Emotion and has a small size effect with a value of 0.008. In addition, it was also found that WOM has an effect on Epistemic Value with a small size effect value of 0.033. Then WOM also has an effect on Functional Value with a small size effect of 0.029. Finally, WOM also has an influence on Social Value with a small size effect of 0.034 If the existing effects are described more specifically, then first, the influence of WOM on Epistemic Value is the assessment of high school students who will enter college, on the quality of teaching and teaching materials from universities. Then, the relationship between WOM and Functional Value is about the assessment of high school students on the quality and price of the university. However, in this section, the influence of the existing WOM is still relatively small, because most of these high school students do not value the university in terms of price and quality. Likewise, the relationship between WOM and Social Value, where Social Value here represents student activities which will later be followed by high school students when entering college, but high school students cannot yet feel the benefits. For this reason, the relationship between WOM and Social Value has become weak. Finally, the relationship between WOM on Emotional Value and WOM on Energizing Value itself has a small effect size of 0.075 and 0.042. With the numbers listed, it can be stated that this is included in the medium and significant size. Kemudian, penelitian ini akan masuk ke dalam pembahasan dalam bagian Social Media Marketing yang berpengaruh terhadap Emotional Value, Energizing Value, Epistemic Value dan Functional Value dan Social Value. Where all the things just mentioned have a medium or medium size effect. As for the construct that predicts Intention to Enroll in this model, there is only one construct, namely Positive Emotion. However, although only one construct predicts Intention to Enroll, this construct has a large size effect. This is because this construct itself has a value of 0.634. So it can be interpreted that Positive Emotion has a large and significant impact on Intention to Enroll.

R²:0.221

Q²:0.132

The findings from this study are that the first strong path from both social media marketing and WOM is from social media marketing and WOM to emotional value and then proceeds to new positive emotion to intention to enroll. Then proceed with the second strong path, both from social media marketing and WOM from social media marketing and WOM to energizing value then proceed to new positive emotion to intention to enroll. When compared to the strongest path between social media marketing and WOM, then the path that comes from social media marketing is the strongest, so universities must create marketing programs on social media that can attract high school students to be interested in applying to university. The results of the Importance Performance Map Analysis (IPMA) analysis found that management must pay attention to content, the ability of social media to share opinions, speed in finding information and also the use of Instagram in its implementation.

This study confirms the theory of Triandis (1977) that Affect can affect the future behavioral intention of individuals. This study supports previous research by Bagozzi, Gopinath & Nyer (1999) that emotions can predict intention. In addition, this research is also in line with the theory of Positive Psychology proposed by Seligman (2011), as well as the theory proposed by Lerner et al. (2014) from Harvard University that emotions play a role in decisions that will be taken by individuals (Emotion and Decision Making). Positive emotion can predict the intention to enroll and mediate the perceived value dimension, with the addition of energizing value as a new dimension. This is in addition to the body of knowledge, specifically marketing science, to predict the Intention to Enroll of private universities. The novelty of this research is to place the Positive Emotion variable as a mediation of Perceived Value, where this variable has a large impact on Intetion (f2: Large Effect). Engaging Value has an important influence, because this variable has the 3rd largest influence in influencing positive emotion, so that Energizing Value will be a dimension in fully describing Perceived Value. Social Media Marketing has a bigger role than WOM, this confirms the role of digital marketing platforms compared to conventional methods. This model has a high predictive ability because it has an R2 value of 0.388, and according to Hair et al. (2017) if R2 is more than 0.2 it is declared High for customer behavior, because it only tests 1 direct effect path to the intention to enroll, but this path has a strong effect size, (f2: Large Effect).

Table 3 Nilai Coefficient of Determinant (R Square)
	R-Square	R-Square Adjusted
Emotional Value	0.402	0.399
Energizing Value_	0.278	0.274
Epistemic Value	0.217	0.214
Functional Value	0.221	0.218
Intention to Enroll	0.388	0.387
Positive Emotion	0.52	0.514
Social Value	0.223	0.219

The results of this study also support previous research conducted by Bonesso et al. (2018), which states that Positive Emotion has a positive effect on Intention. Then, this study also supports the TIB (Theory of Interpersonal Behavior) proposed by Trandis (1977), and also supports the theory of Bagozzi (1999). In addition, this study also supports and is in line with the Positive Psychology theory proposed by Seligman (2011), as well as the theory proposed by Lerner et al. (2014) from Harvard University, regarding Emotion and Decision Making. In addition, from the 16 existing hypotheses, the results of this study also confirm the process of Cognitive-Emotion-Conation. Where the unconscious/emotion stimulus is stimulated through long-term memory (Derbaix & Abeele, 1985). Because, the stimulus that comes from external factors in the form of Social Media Marketing and WOM, is an external factor from high school students, which is then perceived or assessed through the cognitive pathway. Based on the existing results, it can be said that all the hypothesized values, from H1 to H10, have positive values and are supported. Then, the results of the cognitive assessment of the high school students evoke happy feelings or emotions, which are then channelled through a construct, namely Positive Emotion, and this is reflected in the support of Hypotheses H11 to H15. Finally, the construct of Positive Emotion can predict. Because, with a large path coefficient value of 0.627 to Intention to Enroll as illustrated from major studies that preceded this research, it has been proven that Positive Emotion can encourage high school students to make Intention to Enroll decisions.

Novelty in this study is to add to the body of knowledge, specifically marketing science, to predict Intention to Enroll one mediation variable is needed, namely Positive Emotion and a new variable is needed, namely Energizing Value. The novelty of this research is that Positive Emotion mediates Perceived Value, which was not done in previous studies such as Auliarahman Sumadi's (2020) research. With the mediation of Positive Emotion, it has a Large Effect when viewed from f2. In addition, in Perceived Value, Energizing Value has an important influence, because Energizing Value has a 3rd important influence in predicting Intention to Enroll, where Energizing Value is one dimension additional in Perceived Value.

Conclusion

Based on the existing results, it can be said that all the hypothesized values, from H1 to H10, have positive values and are supported. Then, the results of the cognitive assessment of the high school students evoke happy feelings or emotions, which are then channeled through a construct, namely Positive Emotion, and this is reflected in the support of Hypotheses H11 to H15. Finally, the construct of Positive Emotion can predict. Because, with a large path coefficient value of 0.627 to Intention to Enroll as illustrated from major studies that preceded this research, it has been proven that Positive Emotion can encourage high school students to make Intention to Enroll decisions.

Limitation and Suggestion

The first limitation in this study is the geographical coverage of the respondent's area, 31% from Jakarta and 30% from Tangerang, the rest from Lampung, Denpassar, Cikarang, Bekasi, Central Java, Jambi, Palembang, and Tanjung Pandan, so that there are still many areas outside Java that have not been developed. touched in this research.The second limitation is that the variable that predicts Intention to Enroll is only Positive Emotion, because from previous research there is a positive emotion center in intention.Lastly, for the third limitation, this study has not discussed in detail the social media platforms used for marketing to reach students in high school. As a suggestion for further research, the first is that the geographical area of the respondents can be expanded larger outside Java. The second suggestion is that mediating variables can be added in addition to positive emotions such as internal motivation. And the third is research using more specific social media platforms such as IG or Tiktok.

References

1. Agustiani, I. N., Yapari, S., Sri, R., & Karini, R. A. (2017). The effect of word of mouth marketing on the image of universities and its impact on the decision to be a student at Stkip Pasundan Cimahi. Tourism Scientific Journal, 3(1).
2. Ahn, J., & Kwon, J. (2020). Green hotel brands in Malaysia: perceived value, cost, anticipated emotion, and revisit intention. Current Issues in Tourism, 23(12), 1559-1574.
3. Alves, H. (2011). The measurement of perceived value in higher education: A unidimensional approach. Service Industries Journal, 31(12), 1943-1960.
4. Auliarahman, L. (2020). The effect of social media marketing and religiosity on perceived value and student’s decision in choosing non-religious program at Islamic higher education. Asian Journal of Islamic Management (AJIM), 2, 82-95.
5. Bagozzi, R. P., & Dholakia, U. M. (2006). Antecedents and purchase consequences of customer participation in small group brand communities. International Journal of Research in Marketing, 23(1), 45–61. https://doi.org/10.1016/j.ijresmar.2006.01.005
6. Bagozzi, R.P., Gopinath, M., & Nyer, P.U. (1999). The role of emotions in marketing. Journal of the Academy of Marketing Science, 27(2), 184-206.
7. Barton, B.A., Adams, K.S., Browne, B.L., & Arrastia-Chisholm, M.C. (2021). The effects of social media usage on attention, motivation, and academic performance. Active Learning in Higher Education, 22(1), 11-22.
8. Bidin, Z., Haron, H., Zainuddin, Y., & Ismail, I. (2005). Factors influencing students’ intention to enroll in bachelor of accounting degree: An application of theory of reasoned action. EKUITAS (Jurnal Ekonomi dan Keuangan), 9(3), 340-361.
9. Bonesso, S., Gerli, F., Pizzi, C., & Cortellazzo, L. (2018). Students’ Entrepreneurial Intentions: The Role of Prior Learning Experiences and Emotional, Social, and Cognitive Competencies. Journal of Small Business Management, 56, 215-242.
10. Callejas-Albiñana, A.I., Callejas-Albiñana, F.E., & Martínez-Rodríguez, I. (2016). Emotional effects on university choice behavior: The influence of experienced narrators and their characteristics. Frontiers in Psychology, 7(MAY).
11. Chen, S.C., & Lin, C.P. (2019). Understanding the effect of social media marketing activities: The mediation of social identification, perceived value and satisfaction. Technological Forecasting and Social Change, 140, 22-32.
12. Cocosila, M., & Igonor, A. (2012). Perceived Value of Social Media: An empirical investigation. Retrieved from http://aisel.aisnet.org/confirm2012http://aisel.aisnet.org/confirm2012/54.
13. Dann, S. (2010). Redefining social marketing with contemporary commercial marketing definitions. Journal of Business Research, 63(2), 147-153
14. Derbaix, C., & vanden Abeele, P. (1985). Consumer inferences and consumer preferences. The status of cognition and consciousness in consumer behavior theory. International Journal of Research in Marketing, 2(3), 157-174.
15. Fazal-e-Hasan, S.M., Ahmadi, H., Mortimer, G., Grimmer, M., & Kelly, L. (2018). Examining the role of consumer hope in explaining the impact of perceived brand value on customer–brand relationship outcomes in an online retailing environment. Journal of Retailing and Consumer Services, 41, 101-111.
16. Goi, M.T., Kalidas, V., & Yunus, N. (2018). Mediating roles of emotion and experience in the stimulus-organism-response framework in higher education institutions. Journal of Marketing for Higher Education, 28(1), 90-112.
17. Gottlieb, U.R., & Beatson, A. (2018a). High on emotion! perceived value: influencing decision- making processes at international student recruitment trade shows. Journal of Marketing for Higher Education, 28(2), 282-297.
18. Gottlieb, U. R., & Beatson, A. (2018b). High on emotion! perceived value: influencing decision- making processes at international student recruitment trade shows. Journal of Marketing for Higher Education, 28(2), 282–297.
19. Hall, N.C., Sampasivam, L., Muis, K.R., & Ranellucci, J. (2016). Achievement goals and emotions: The mediational roles of perceived progress, control, and value. British Journal of Educational Psychology, 86(2), 313-330.
20. Hanum, M. S., Rofiaty, R., & Yuniarinto, A. (2020). Analyzing the impact of word of mouth and experience quality on school choice decision through perceived value and brand image. Management Application Journal, 18(2), 326-336.
21. Hermawan, A. (2001). The effect of Service Cues on Perceived Service Quality, Value, Satisfaction and Word of Mouth Recomendations in Indonesian University Settings. Wayne Huizenga Graduate School of Business and Entrepreneurship Nova Southeatern University, 1-149.
22. Hoa, T., & Hang, T. (2016). A Study on Re-enroll Intention Toward Advanced Level of Higher Education for International Students in Taiwan. European Journal of Business and Management, 8(33), 2222-2289.
23. Holbrook, M. (1999). Introduction to Consumer Value A Framework for Analysis and Research. Routledge, 1–28.
24. Janet Yang, Z., McComas, K., Gay, G., Leonard, J.P., Dannenberg, A.J., & Dillon, H. (2010). From information processing to behavioral intentions: Exploring cancer patients’ motivations for clinical trial enrollment. Patient Education and Counseling, 79(2), 231-238.
25. Kahneman, & Tversky. (1979). Prospect Theory: An Analysis of decision making under risk.
26. Kantorová, K., Jonášová, H., Panuš, J., & Lipka, R. (2017). A study of generation z from the communication perspective of universities. Retrieved from http://hdl.handle.net/10195/67927.
27. Kaur, P., Dhir, A., Rajala, R., & Dwivedi, Y. (2018). Why people use online social media brand communities?:A consumption value theory perspective. Online Information Review, 42(2), 205-221.
28. Kawakami, T., Kishiya, K., & Parry, M.E. (2013a). Personal word of mouth, virtual word of mouth, and innovation use. Journal of Product Innovation Management, 30(1), 17-30.
29. Kawakami, T., Kishiya, K., & Parry, M.E. (2013b). Personal word of mouth, virtual word of mouth, and innovation use. Journal of Product Innovation Management, 30(1), 17-30.
30. Kemenristekdikti. (2019). Indonesian higher education statistics 2019.
31. Kim, A.J., & Ko, E. (2012). Do social media marketing activities enhance customer equity? An empirical study of luxury fashion brand. Journal of Business Research, 65(10), 1480-1486.
32. Kusumaningtyas, R., Mar’atus Sholehah, I., & Kholifah, N. (2020). Improving the quality of teacher learning through learning models and media for generation Z. LPM News Journal, 23(1), 54-62.
33. Lai, L. S. L., To, W.M., Lung, J.W.Y., & Lai, T.M. (2012). The perceived value of higher education: The voice of Chinese students. Higher Education, 63(3), 271-287.
34. Le, T.D., Robinson, L.J., & Dobele, A.R. (2020a). Understanding high school students use of choice factors and word-of-mouth information sources in university selection. Studies in Higher Education, 45(4), 808-818.
35. Le, T.D., Robinson, L.J., & Dobele, A.R. (2020b). Understanding high school students use of choice factors and word-of-mouth information sources in university selection. Studies in Higher Education, 45(4), 808-818.
36. Lubis, N., Sakti, S., Yoshino, K., & Nakamura, S. (2018). Eliciting positive emotion through affect sensitive dialogue response generation: A neural network approach.
37. Luo, M., Xue, Y., Zhang, S., Dong, Y., Mo, D., Dong, W., Qian, K., Fang, Y., Liang, H., & Zhang, Z. (2018). What factors influence older people’s intention to enrol in nursing homes? A cross- sectional observational study in Shanghai, China. BMJ Open, 8(9), e021741.
38. Mazer, J.P., Murphy, R.E., & Simonds, C.J. (2007). I’ll see you on “facebook”: The effects of computer-mediated teacher self-disclosure on student motivation, affective learning, and classroom climate. Communication Education, 56(1), 1-17.
39. Mazzarol, T., & Soutar, G.N. (2002). “Push-pull” factors influencing international student destination choice. International Journal of Educational Management, 16(2), 82-90.
40. Nsuworks, N., & Sessa, W.L. (2017). The influence of electronic word-of-mouth on college search and choice. College and University Journal, 92(4).
41. Perrin, J.L. (2009). Emotional responses to environmental messages: Implications for future environmentally responsible behavioral intentions Recommended Citation. Retrieved from https://scholars.unh.edu/dissertation/482.
42. Quin, D., Hemphill, S.A., & Heerde, J.A. (2017). Associations between teaching quality and secondary students’ behavioral, emotional, and cognitive engagement in school. Social Psychology of Education, 20(4), 807-829.
43. Richardson, M., Abraham, C., & Bond, R. (2012). Psychological correlates of university students’ academic performance: A systematic review and meta-analysis. Psychological Bulletin, 138(2), 353-387.
44. Sánchez-Fernández, R., & Iniesta-Bonillo, M. Á. (2007). The concept of perceived value: A systematic review of the research. Marketing Theory, 7(4), 427-451.
45. Santoso, G., & Triwijayati, A. (2018). Online decision making style for generation Z Indonesia. Journal of family and consumer science, 11(3), 231-242.
46. Seligman M. (2011). A visionary new understanding of happiness and well-being flourish.
47. Shedrack, O.A., & Dastane, O. (2016). The Impact of Word of Mouth on CustomerPerceived Value for the Malaysian Restaurant Industry. Omkar Dastane / East Asian Journal of Business Management, 6(3), 21-31.
48. Sheth, J.N., Newman, B.I., & Gross, B.L. (1991). Why we buy what we buy: A theory of consumption values.
49. Shi, W., Tang, L., Zhang, X., Gao, Y., & Zhu, Y. (2016). How does word of mouth affect customer satisfaction? Journal of Business and Industrial Marketing, 31(3), 393-403.
50. Simiyu, G., Bonuke, R., & Komen, J. (2020a). Social media and students’ behavioral intentions to enroll in postgraduate studies in Kenya: a moderated mediation model of brand personality and attitude. Journal of Marketing for Higher Education, 30(1), 66-86.
51. Simiyu, G., Bonuke, R., & Komen, J. (2020b). Social media and students’ behavioral intentions to enroll in postgraduate studies in Kenya: a moderated mediation model of brand personality and attitude. Journal of Marketing for Higher Education, 30(1), 66-86.
52. Stephanou, G., Kariotoglou, P., & Dinas, K. (2011). University Students’ Emotions in Lectures: The Effect of Competence Beliefs, Value Beliefs and Perceived Task-difficulty, and the Impact on Academic Performance.
53. Susilowati, C., & Sugandini, D. (2018). Perceived Value, eWord-of-Mouth, Traditional Word-of- Mouth, and Perceived Quality to Destination Image of Vacation Tourists. Review of Integrative Business and Economics Research, 1(1).
54. Sweeney, J.C., Soutar, G.N., & Mazzarol, T. (2012). Word of mouth: Measuring the power of individual messages. European Journal of Marketing, 46(1), 237-257.
55. Viswanathan, V., & Jain, V. (2013). A dual-system approach to understanding “generation Y” decision making. Journal of Consumer Marketing, 30(6), 484-492.
56. Watson, D., Clark, L.A., & Tellegen, A. (1988). Development and Validation of Brief Measures of Positive and Negative Affect: The PANAS Scales. Journal of Personality and Social Psychology, 54(6).
57. Yu, Y., & Wang, X. (2020). Understanding the intention of Chinese parents to enroll their children in early enrichment programs–A social media perspective. European Early Childhood Education Research Journal, 598-621.
58. Zeithaml, V.A. (1988). Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence.
59. Zhai, X., Wang, M., & Ghani, U. (2020). The SOR (stimulus-organism-response) paradigm in online learning: an empirical study of students’ knowledge hiding perceptions. Interactive Learning Environments, 28(5), 586-601.