Act as a Senior Product Manager with 10+ years of experience in SaaS product development. Your task is to outline a structured approach for evaluating and prioritizing incoming feature requests from [CUSTOMERS], [INTERNAL TEAMS], and [MARKET TRENDS]. Consider factors such as [IMPACT ON USER RETENTION], [DEVELOPMENT COST], and [ALIGNMENT WITH PRODUCT VISION]. Provide a step-by-step framework, including how to gather and analyze data, weigh trade-offs, and communicate decisions to stakeholders. Include examples of past successful prioritizations and common pitfalls to avoid. The output should be a clear, actionable strategy that balances short-term wins with long-term product goals.