[dquigley]

The training I have gone through in product management provides a more nuanced approach:

1) Get customer feedback by actually visiting and talking with customers in the environment where they use your app/service. This contextual knowledge should be helpful in getting to a root problem and not just a surface concern.

2) Don't depend on just one customer's feedback. Instead, survey at least a portion of your customer base to find out if this is a common problem or not.

3) Have a clear business growth strategy for which customer segments you are looking to grow, whether that's keeping existing customers, taking competitor's customers, etc and let that further filter which ideas move to the top of your list.

I don't think there are any magic bullets to ensure you get prioritization right every time, but this process might help some.