How a company could prioritise product improvement

So this is my suggestion for how a company could prioritise all product development work (1 is top priority and 4 is lowest) –

1 – compliance / legal need. As if we are not compliant we do not have a business. The Company must have a team that can always keep the business and the technical sides up to date with what we need to be doing so we stay compliant / legal in their markets.

2 – Keep an existing client (cheaper to keep a client than to attract one) / Operational improvement so to reduce manual work by the company (the more manual work / workarounds, the more likely that mistakes are made then put the customer relationship at risk)

3 – Win a new client – if there is certain functionality it will enable the company to win a particular customer / market segment

4 – Nice to have