The Impact of Social Media on the Performance Indicators (Product Development, Market Development and Customer Loyalty) in the Gastronomy Sector

Shqiprim Jashari and Nail Reshidi

Economic Studies journal, 2024, issue 6, 36-52

Abstract: The aim of this study is to explore and assess the significance of social media in terms of their impact on market performance indicators, including product development, market development, and consumer loyalty. This study utilized a sample of 279 companies operating in the HoReCa sector (Hotel, Restaurant, and Cafeteria) in Kosovo. To assess the impact of social networks on the gastronomy sector, a structural equation model was employed to analyse the collected data. Based on our research, the results indicate a positive relationship between social media and performance indicators. However, it is worth noting that the correlation between social media and performance indicators was not particularly strong. This study adds to the existing body of literature on digital marketing strategies from an academic standpoint, highlighting the positive outcomes derived from the influence of social media through performance indicators. From a practical standpoint, the findings of this research suggest that the gastronomy sector can benefit from investing in a comprehensive digital marketing strategy based on the insights gained. Given that many businesses within this sector have a clear requirement for digital marketing and the appropriate platform design, effective management of the HoReCa sector can enable the development of an effective social media strategy that amplifies the impact of performance indicators. Consequently, the paper begins with a theoretical explanation of the terms of digital marketing of social media, analysing the theoretical aspect of performance indicators such as product development, market development and customer loyalty. Then the paper continues with the hypotheses of the paper and presentation of the conceptual model. By giving the paper the practical part of the work, the distribution of the questionnaires and finally the analysis of the results. For clarification, in the paper we have relied on various literatures that have dealt with such variables and we have dealt with our case in Kosovo of these variables that we have called. This research study makes unique contributions to the existing literature on social media and performance indicators specifically within the gastronomy sector. The novelty of this study lies in its efforts to enhance the comprehension of social media's impact through performance indicators, ultimately leading to improved performance in gastronomy services.

JEL-codes: M00 M20 M31 (search for similar items in EconPapers)
Date: 2024
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