How can businesses create a sustainable competitive advantage through innovation in a rapidly changing technological landscape, and what role does customer feedback play in this process?
Businesses can create a sustainable competitive advantage through innovation by continuously adapting to new technologies and trends in the market. By staying ahead of the curve and consistently introducing new and improved products or services, businesses can differentiate themselves from competitors. Customer feedback is crucial in this process as it provides valuable insights into customer preferences, needs, and pain points. By listening to customer feedback, businesses can tailor their innovation efforts to address specific customer demands, ultimately leading to a stronger competitive advantage in the market.
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