THE ROLE OF CUSTOMER FEEDBACK IN SHAPING BUSINESS STRATEGIES
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THE ROLE OF CUSTOMER FEEDBACK IN SHAPING BUSINESS STRATEGIES
This research focused on understanding the role of customer feedback in shaping business strategies, with objectives to explore the impact of customer feedback on strategic planning, analyze how feedback influences product and service innovation, and assess the correlation between feedback mechanisms and customer satisfaction. A survey design was adopted, as it effectively captures diverse perspectives from a large population, providing rich data for analysis. The sample size of 300 respondents was calculated using Taro Yamane's formula, targeting professionals in the telecommunications industry in Port Harcourt. The reliability coefficient score for the questionnaire was 0.87, indicating a high level of consistency. The study found that customer feedback is crucial in refining business strategies, driving innovation, and enhancing customer satisfaction. Recommendations include establishing robust feedback channels and integrating customer insights into strategic planning processes to foster a responsive and customer-centric business environment.
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