CUSTOMER FEEDBACK ON NEW PRODUCT DEVELOPMENT: CASE STUDY IS ABEOKUTA METROPOLITAN

This study looks at how customer feedback helps in developing new products, focusing on small and medium-sized businesses in Abeokuta metropolis. The research explores how customer satisfaction, loyalty, and engagement influence product development and acceptance in the market. A survey was conducted among 255 customers of three paint companies, out of which 230 valid responses were analyzed using descriptive and regression methods. The findings show that customer satisfaction strongly improves product development by ensuring that new products meet real needs and expectations. Customer loyalty was also found to play a key role by encouraging repeat patronage and positive recommendations, while customer engagement provided valuable ideas that supported product testing and communication. Together, these factors significantly shaped how successful new products were developed. The study concludes that customer feedback is not just an opinion but a vital tool for innovation. By listening to their customers, businesses can reduce product failure, strengthen relationships, and stay competitive in today’s market. It recommends that companies create different feedback channels, involve customers in testing, and act on insights to improve product success.