Final Answer:
When Natalie and Chris analyze the results from the recently completed test market to determine if any changes in the marketing mix are needed, they are in the test marketing phase of the new-product development process. c) test marketing
Step-by-step explanation:
Natalie and Chris, in analyzing the results from the recently completed test market, find themselves in the "test marketing" (C)phase of the new-product development process. Test marketing is a crucial step where the product is launched in a limited market to gauge its performance, customer response, and potential success before a full-scale launch. This phase allows marketers to collect valuable data on consumer preferences, market dynamics, and other relevant factors to make informed decisions about the final marketing mix.
In the test marketing phase, Natalie and Chris assess key metrics such as sales figures, customer feedback, and any unforeseen issues that may have arisen during the trial period. By analyzing this data, they can make necessary adjustments to the product or its marketing strategy before a broader rollout. This phase acts as a crucial bridge between the development and commercialization stages, ensuring that the final product meets consumer expectations and maximizes its chances of success in the broader market.
Moreover, the test marketing phase involves a careful evaluation of costs and potential revenues, contributing to the overall business analysis. This analysis helps determine the feasibility and profitability of the new product, providing a solid foundation for strategic decision-making. In summary, the test marketing phase is a pivotal step in the new-product development process, offering valuable insights and guiding marketers like Natalie and Chris in refining their approach for a successful product launch.