Customer Feedback Acquisition Technologies for Fostering Innovation

Varun Gupta ()
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Varun Gupta: University of Alcala

A chapter in Innovation Mechanisms in Start-ups, 2023, pp 89-102 from Springer

Abstract: Abstract Innovation is fueled by customer feedback. Market success is dependent on gathering client feedback and making company decisions based on it. The reason for this is because firms with newness and smallness liabilities had a limited understanding of their target market. This is due to the product being too original at first, with little market. Customer input is an important aspect of business model innovation since it helps to improve customer interactions. This chapter examines feedback management in the context of startups, with a special emphasis on pandemic practices. The reported data is based on an evaluation of insights from real feedback management techniques of numerous industries’ early-stage European startups throughout the outbreak. Some of the many feedback acquisition tools addressed in this chapter are Facebook, LinkedIn, Twitter, WhatsApp, emails, websites (made on Wix and WordPress), Slacks, Google Forms, Skype, and Zoom. The framework for implementing feedback collecting technology is offered with the goal of improving selection decisions that are made in response to it. The decision to include only these tools stems from the fact that throughout the epidemic, the startup community made great use of these technologies. Finally, the process for gathering and analyzing customer feedback and the underlying technology for feedback management greatly depend on the startup life cycle as well as whether the business is concentrating on domestic or international markets.

Keywords: Customer feedback; Feedback technologies; Innovation; Business model innovation; Competitive advantage (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:innchp:978-3-031-19741-3_6

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DOI: 10.1007/978-3-031-19741-3_6

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