What is likely a consequence of ignoring existing customer feedback?

Ignoring existing customer feedback can lead to increased customer acquisition costs. When a company fails to listen to and address customer concerns or suggestions, it may struggle to retain its current customers. This dissatisfaction can result in a higher churn rate, meaning customers leave for competitors who are more responsive to their needs. As a consequence, the organization must invest more resources into acquiring new customers to replace those lost. This involves spending on marketing, sales efforts, onboarding, and potentially offering discounts or other incentives, which can significantly drive up customer acquisition costs.

The other options reflect outcomes that are unlikely to result from neglecting customer feedback. Improved product development typically arises from actively incorporating customer insights into the design and enhancement of products. Greater customer satisfaction stems from recognizing and addressing customer needs, whereas stronger brand loyalty is fostered through consistent engagement and responsiveness to feedback. Ignoring feedback does not support these positive outcomes; instead, it can have detrimental effects on customer retention and overall business success.