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A product feature prioritization matrix in the tech industry is used to determine which features are the most feasible and the best strategic fit for a product. It helps in identifying high-value projects that have high strategic fit and feasibility. It also helps in identifying low hanging fruits, which are projects with high strategic fit but low feasibility cost. These projects should be implemented as they can provide quick wins. The matrix can also help in avoiding low-value projects that have low feasibility and low strategic fit.
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Last, a product feature prioritization matrix can be used to determine which features are the most feasible and the best strategic fit. If a project has low feasibility and low strategic fit, then it's a low-value project, while a project with high strategic fit but low feasibility cost, is a low hanging fruit and should definitely be implemented. (Slide 6)
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How do you take your product management to the next level? Due to popular demand, we've expanded our Product Development Toolkit to include more tools...
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