Does Social Media Moderate the Relationship of Reinventing Potential and Financial Independence toward Entrepreneurial Character of the Millennial Generation in Marketing Era 4.0?

Adnan, Adnan and Aiyub, Aiyub (2021) Does Social Media Moderate the Relationship of Reinventing Potential and Financial Independence toward Entrepreneurial Character of the Millennial Generation in Marketing Era 4.0? In: Proceedings of the 4 European International Conference on Industrial Engineering and Operations Management, August 2-5, 2021, Rome, Italy.

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Abstract

The millennial generation is a great asset and principal human capital for national development with superior potential in marketing era 4.0 compared to the previous generation. Marketing has developed rapidly from product to customer-oriented. Marketing era 4.0 combines human touch with consumers through technological advancement, which tends to concern the use of technology, taste in music, and lifestyle. Today, young generations quickly access information via smartphone and create a consumptive lifestyle through social media. In conjunction with the issue, this study is written to investigate the moderating role of social media in the relationship of reinventing potential and financial independence toward entrepreneurs' character in marketing era 4.0. This quantitative study involved as many as 448 students, which spread four departments from Faculty Economics and Business, Universitas Malikussaleh, Lhokseumawe, Indonesia. The data analysed using descriptive statistics and Structural Equation Modelling – Analysis of Moments Structure (SEM - AMOS) for inferential statistics analysis. The result showed that reinventing potential and financial independence significantly affects the entrepreneurial character of the millennial generation in the marketing era - 4.0. Also, this study found that social media moderates the relationship between the millennial generation's financial independence and entrepreneurial character. However, social media does not moderate the relationship between reinventing potential and the entrepreneurial character of the millennial generation in the marketing era 4.0. In conclusion, this study has found that the role of social media in marketing era 4.0. Also, social media becomes a necessity for millennials in their day-long activities by using Facebook, Instagram, YouTube, and others that have inspired them to apply creative and innovative ideas. In addition, social media has a big influence on the desire of the millennial generation to carry out entrepreneurial activities. Keywords: Reinventing Potential, Financial Independence, Social Media, Entrepreneurial Character and Millennial Generations

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