Should companies use the social media to talk more about their products or to get customer's feedback?

Sure Companies should use social media to Increase consumer loyalty for the company

Only customer is king here-those who dont use the product how can they give views about the product---Customer No1 Priority

<p>Undoubtedly, it should be used for BOTH the purposes :)</p>

It should be a combination of both, without forcing information onto the customer.
In fact a recent study showed (shared on mashable a few days ago) that users usually 'Like' a product's Facebook Page because they are loyal to the product and not because they look for free items.

It should be both, but always about the product first and then seeking feedback.
Without talking about the product, what feedback are you expecting? Every company HAS begun with a product or service to be wherever it is in the current day...Without a product - there's no customers & no company.

First make the product better by customer feedback and once the negative feedback is minimal than enter the social media.
The wrong product in social media will hit your revenues hard

Yes definitely, but at the same time it is important to keep track of it.
Social media is something which is dynamic, lively face of the company which is open virtually24 hours.
However, it has a negative side to it as well if not managed properly it could give very bad impression to the customer visiting the pages.

Hi - We need to understand the target audience first if they are well versed with computer, internet and social media we can surely opt for this, but we should not be totally dependent on it, we should use social media as a part of taking feedbacks, there are other ways too, we can add some feedback forms to our website, or we can do some business meet to know what people think about the product.......

First of all, it depends of the type of product.
Some don't need to use Social Media.
I'm afraid to say that since a lot are using social media to advertise their product, the competition is immense and very difficult to tackle.
Specially that there should be a daily follow-up in order to keep track of the progress.
I would say that Social Media is very good to promote a new/modified/enhanced product from the company and get customer feedback for the ones that bought it.
Once again, it all depends of the product.
If it's a Graphic Design company, I'll definitely take pictures of my work and post them on "Instagram"!!!

Absolutely!, Social media is the future of advertising.

They should use it for various reasons.
But mainly for community building.
Community building has to be coupled with things like special offers, promotions, collecting fan feedback, etc.
Objectives are mainly to: - spread awareness - build a community - promote products/services - lead generation - brand building