Small businesses can apply these product management tools in various ways. A price sensitivity matrix can help them understand how price changes affect their customer demand and profitability. Defining the total addressable market can help them understand the potential growth opportunities. Conducting a cost-benefit analysis can help them make informed decisions about where to invest their resources. Using a MoSCoW feature prioritization can help them decide which product features to develop based on their importance and the resources available. Lastly, a KANO diagram can help them understand customer preferences and improve customer satisfaction.
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