In practice
The term is broad. A support team may mean inbox triage. A product team may mean classification, prioritization, spec writing and customer notifications.
It is usually a shorter name for customer feedback management. When people draw a line between them, feedback management is wider and can include employee or internal feedback too.
Why it matters for product builders
The label can hide very different products. 2 tools sold as “feedback management” may cover opposite halves of the job. Check what happens after the feedback arrives.