Published in Marketing and Strategy Terms by MBA Skool Team
What is Survey Feedback?
Survey Feedback is tool which provides an organization with a honest opinion of what their present or future customers think about them and helps them in taking an informed decision.
Steps Involved in Survey Feedback:
(a) Identifying the objective of conducting the survey.
(b) Informing all the members including the team leads and other employees about the procedure for conducting the survey.
(c) Starting the ground work.
(d) Organizing and conducting the interviews of target groups.
(e) Analyzing the data obtained and generating a report out of that.
(f) Based on the report providing proper feedback.
(g) Presenting the final report to the top management.
(h) Devising policies so that the survey results can help to serve the given objective.
Knowing the wants and needs of the customers with respect to the products and services is the driving force for product innovation. Customer is the king in today’s world and if the product developer has a prior knowledge about the type of product/ service that the customer needs he can equip himself better to serve the purpose. Making the customers aware about the product helps in improved decision making and customer satisfaction. A well defined survey feedback is instrumental in achieving brand loyalty, achieving profitability goals and customer retention.
Choosing an appropriate method is a difficult task, also deciding on the fact that how the survey feedback helps the company policies is a cumbersome task. The main challenges include:
(a) Determining how survey feedback is supportive of organization’s marketing and other strategies.
(b) Choosing the right tool for product innovation.
(c) Installing faith in customer’s mind and assuring them that their feedback is given due weightage.
(d) Traditional methods have the disadvantage in the fact that they aren’t very effective in identifying the issues, profiles and the motives behind the customer’s behavior.
Hence, this concludes the definition of Survey Feedback along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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