Impact of Social Media on Business Performance: A Case Study on Arki Group

Social media are becoming a critical avenue for business enterprises to promote their products and services. The purpose of the study was to determine the effect of social media on business performance in Arki Group. Questionnaires were distributed to a specific group of managers, marketing personnel, affiliated manufacturers, and subcontractors that collaborate with Arki Group for collecting quantitative data. Five-point Likert scale have been used. Purposive sampling was used to choose the respondents and the study period was 2023. Study found that social media does not increase significantly brand image, connectivity between business and customers, facilitate marketing, the chance of fraud business, and following of trends. It also does not assist substantially the entrepreneurs. These insignificant impacts are obvious as Bangladesh is a country characterized by low digital literacy rate. However social media influences the price of products. The study has managerial and social implications as managers of firms can effectively utilize social media to determine competitive price. Customers’ connectivity through social media creates indirect pressure on producers to provide society’s desired product at competitive prices. This study shed new light on the effect of social media on performance of an asset management company.