Lean software development is a product development paradigm with focus on creating value for the customer and eliminating waste from all phases of the development life cycle. Applying lean principles, empirical studies were conducted focusing on identifying and assessing methods that parsimoniously select features from a given set of user feature requests. The results of the studies show that the Kano survey method has potential. It demonstrated efficacy in not only identifying the feature subset, from a given set of feature requests, that maximizes value to the users but also in eliminating waste by identifying the subset of features which does not provide significant value to the users when implemented into the software product. The design and results of one study is elaborated in this article. The findings obtained in the study have useful implications for practice and opens up new avenues of research for evolving market-driven software products.