Final answer:
Customer feedback management is the process of listening to customer feedback, sharing results, and interpreting feedback to improve customer experience and retention.
Step-by-step explanation:
Customer feedback management is the process of listening to customer feedback about their experience using a product or service, sharing results within the organization, and interpreting feedback to improve customer experience and retention. It involves gathering information from customers and other stakeholders, finding expert information, and doing a root cause analysis to identify the real problem. By being open to feedback and actively listening, businesses can make improvements based on customer insights.