feedback

(noun)

Critical assessment of information produced.

Related Terms

Examples of feedback in the following topics:

  • Customer Feedback

    • Customer feedback can be collected via direct conversations with consumers, telephone or focus group interviews, surveys, and online communities.
    • Virtual online communities or private consumer panels: Technology has made it increasingly easier for companies to obtain feedback from their customers.
    • In exchange for their honest opinions and feedback, customers are incentivized for their time.
    • Recently, many organizations have implemented feedback loops that allow them to capture feedback at the point of experience.
    • Customer feedback can be gathered via focus group discussions that elicit their opinions and inquire about their experiences.

  • Measuring Sales Force Performance

    • This can be done through conducting performance appraisals and offering feedback.
    • In the broadest sense, feedback is simply verbal or nonverbal communication between two or more parties.
    • Feedback should be given in all work situations, good and bad.
    • Regardless, we are constantly surrounded by feedback as we see the consequences of our actions and how our actions affect the impressions of those around us, as shown in this feedback diagram .
    • Feedback is an essential part of our personal life and our work environment, making, giving, and receiving feedback successfully is critical.

  • Responding to the External Environment

    • Gathering customer feedback is so important that companies may outsource the job to market research companies.
    • Many companies constantly gather feedback from customers.
    • They analyze this feedback to determine if they are meeting the needs of their customers, and what they can do better.
    • Based on the results of the feedback and trend analysis, the company may decide to make product improvements.
    • Another source of feedback and information that is vital to the company is from influential stakeholders.

  • Customer Excellence

    • Obtaining customer feedback to ensure customer satisfaction and loyalty is essential to any marketing plan or strategic planning process.
    • Market research using your customers is one of the most important aspects of running a business, as no amount of discussion with professionals, friends or colleagues will ever replace the feedback from a real customer.
    • The advantage of using this method over a questionnaire is that you will get more detailed information and feedback, rather than "tick the box"- style responses from a questionnaire.

  • Purchase

    • Negative feedback of others and our level of motivation to comply or accept the feedback.
    • For example, after going through the need recognition, information search, and alternative evaluation stages, one might choose to buy a Nikon D80 DSLR camera, but a close photographer friend might share negative feedback, which could drastically influence personal preference.

  • Measuring Vendor Performance

    • The results become feedback for other stages in future business purchasing decisions.
    • Consistent with supply management orientation, these evaluations can be complemented with the firm's customer feedback.
    • The results become feedback for other stages in future business purchasing decisions.

  • Advertising

    • Advertising communicates a message to a targeted audience and generates feedback in the form of a sale or other action taken by a consumer.
    • Advertising generates feedback that is analyzed and measured.
    • Good feedback typically translates into money spent on the product while bad feedback prompts the marketing source to reevaluate its marketing plan.

  • Customer Concerns

    • B2B brands are increasingly using web and social media channels such as community blogs, online forums, and extranets to capture customer feedback.
    • Merging this data with customer service Key Performance Indicators (KPIs) also helps direct the company's attention to areas where customer feedback can make a positive impact (e.g., cost savings, service improvement) on the overall organization.

  • Environmental Management

    • The company, 3M, has always made it a practice to learn what their customers want and getting feedback.

  • Decision-Making Units

    • For instance, if end users provide negative feedback about the product, or demonstrate that the product is hard to use, then the economic buyer will determine whether the purchase will prevent the company from reaching its economic goals.