Q:

Do companies listen to customer feedback?

A:

Quick Answer

The most successful companies listen to customer feedback, and they also interpret the future wants and needs of the customer. An example of this is Apple, which has an in-depth understanding of its customer base. Many companies provide surveys online, using sites such as SurveyMonkey.com to interpret their customers' wants.

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Full Answer

Generally, companies that do not listen to customers' wants and needs do not succeed to any great degree, as customer satisfaction is the driving force behind continued and repetitive sales. Some examples of companies that have increased in popularity through customer feedback are Best Buy and NASCAR. Eighty-nine percent of customers do business with a competitor after a bad experience with a company, and 50 percent of consumers only allow a business one week to respond to a complaint before they no longer do business with that company, according to a Forbes' estimate.

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