In a closed-loop wireless communication system, a codebook-based feedback mechanism is provided where each codeword indicates a particular profile to be used to provide a target performance measure (e.g., bit error rate or spectral efficiency) for the transmission channel. This may be accomplished by using a multi-stage quantization process to construct the codewords as a plurality of transmission parameters specifying a MIMO transmission scheme, precoding vector or matrix, power allocation in space/time/frequency, modulation and channel code.