Suppose you are the manager of a popular cosmetic company. Your top selling brand requires both...

Suppose you are the manager of a popular cosmetic company. Your top selling brand requires both chemicals and labor. Two production processes are available: Process 1 transforms 1 unit of labor and 2 units of chemicals into 3 oz of perfume. Process 2 transforms 2 units of labor and 3 units of chemicals into 5 oz of perfume. It costs your company $3 to purchase a unit of labor and $2 to purchase a unit of chemicals. Each year, up to 20,000 units of labor and 35,000 units of chemicals can be purchased. In the absence of advertising, you believe your company can sell 1,000 oz of perfume. To stimulate demand for your perfume, you can hire a model. The model is paid $100/hour. Each hour the model works for your company is estimated to increase the demand for the perfume by 200 oz. Each ounce of the perfume sells for $5. Formulate a mathematical model that, when solved, maximizes profits.

Do not present your work in Excel.

Expert Solution

samet mamat answered 2 years ago

Tom is the brand manager of a major real estate company selling residential apartments in the...

Tom is the brand manager of a major real estate company selling residential apartments in the United Arab Emirates. Discuss at least three applications of his knowledge of price elasticity of demand that can influence the profitability of his brand.

Suppose you are a brand manager for a large consumer products company (like P&G in Cincinnati),...

Suppose you are a brand manager for a large consumer products company (like P&G in Cincinnati), and your career is in big trouble ... during your last assignment, your team proposed a new dish detergent that tends to dissolve silver and eat holes in fine china. You are given a last-chance assignment in the company's food products division, so you need a big score with the next set of products. The main problem is that these products are convenience foods...

You are the plant accountant for a company that makes a popular brand of basketball shoes....

You are the plant accountant for a company that makes a popular brand of basketball shoes. Currently, your company sells 1,000 pairs of shoes each month for $100 apiece. The variable costs are 40% of sales, and the fixed costs are $35,000/month. The company's advertising director is asking for an increase in her marketing budget of $1,500 per month. She plans to enhance her marketing campaign in a targeted area of the West Coast. She estimates that the additional advertising...

Suppose you are financial manager in your company and the company wants to make innovation on...

Suppose you are financial manager in your company and the company wants to make innovation on products. However, the company’s financial funds are not enough to make innovation. How you can raise funds through financial market?

Suppose you are the CEO of a company and one of your manager confessed to kiting...

Suppose you are the CEO of a company and one of your manager confessed to kiting $1,000. What is kiting? How do your company do to prevent it? How would you respond to the confession?

15. A company’s top brand shows the following data of its unit selling price and its...

15. A company’s top brand shows the following data of its unit selling price and its corresponding sales amount: Unit Price($) Sales Amount($Million 11 1.5 13 1.2 14 0.8 12 1.3 15 0.7 1) Find a simple linear regression model with X = unit selling price and Y = sales amount. 2) If the company lowers its selling price to $10, what would be the expected sales amount? 3) Based on the regression model you find, estimate the change of...

Suppose you are the brand manager for the JWU Online MBA Program. Design a promotional strategy...

Suppose you are the brand manager for the JWU Online MBA Program. Design a promotional strategy to grow the program with high potential students. Define your target market. Describe your advertising objectives, messages, and media choices. How might you use communication to build the brand.

Outline popular search engine optimization strategies for the brand of your choice.

Company XYZ is a merchandising business. The company is specialized in selling a specific brand of...

Company XYZ is a merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was OMR260. At the beginning of the month of May the company has inventory of 1,210 smartphones. During the month of May, the company purchased additional 1,000 smartphones. By the end of May, the company had 490 smartphones remaining in the store. The selling and general expenses for the company include wages and commissions, which include fixed monthly...

You are the Brand Manager of a new yoghurt brand ‘Yo-Yum’ (please note: this is a...

You are the Brand Manager of a new yoghurt brand ‘Yo-Yum’ (please note: this is a fictional brand) that will compete with the market leader Yoplait. With reference to evoked sets and levels of decision-making, consumer involvement, perceived risk, and learning strategies, provide some strategies and tactics that could be used by Yo-Yum to trial their new brand.

Question