Feedback management is collecting and analyzing customer feedback to improve products and services. This process typically involves collecting customer feedback, analyzing it, and making changes to products and services based on the insights gained. Companies use various methods to collect customer feedback, including surveys, customer interviews, and focus groups. Once the feedback has been collected, it is analyzed to identify improvement areas and uncover customer needs and expectations. Companies can then use this analysis to change their products and services, such as adjusting their pricing or launching new features. The feedback management process helps businesses to stay ahead of the competition by providing insights into customer preferences and expectations.
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