powerful consumers and feedback 3.0

One of the side-effects of the Web and social media is called “Feedback 3.0”. Consumers have gained an incredible power of giving feedback on the products and services they liked...or not on the internet. Especially if they were not happy with the product or service.

Clearly, corporations, in order to be competitive, will have to be responsive to such feedback and engage in the dialogue with consumers. I expect to see more and more companies engaging in the dialogue online and benefiting from consumer insights.