Resistance bands exercises are great because they put extra resistance against the player for practicing a specific game movement, and this tricks the muscles into working harder. Now when the resistance bands come off, the body still thinks that it needs to put out that extra effort and the player is able to jump higher, run faster, etc.
The resistance band squat jumps basketball exercise is going to work specifically on the two foot jumping motion. It is going to teach explosiveness, and help the player to develop a quicker jump. It is also a great exercise to strengthen the core and open up the hips. Both of these things are a big part of a player being able to jump higher and faster. So along with doing basketball drills to work on skills like shooting and ball handling, you need to add off court exercises like this into your training to help develop athletically.