The advertising agency promoting a new product is hoping to get the best possible exposure in...

The advertising agency promoting a new product is hoping to get the best possible exposure in terms of the number of people the advertising reaches. The agency will use a two-pronged approach: focused Internet advertising, which is estimated to reach 200,000 people for each burst of advertising, and print media, which is estimated to reach 80,000 people each time an ad is placed. The cost of each Internet burst is $3,000, as opposed to only $900 for each print media ad. It has been agreed that the number of print media ads will be no more than 5 times the number of Internet bursts. The agency hopes to launch at least 5 and no more than 15 Internet bursts of advertising. The advertising budget is $75,000. Given these constraints, what is the most effective advertising strategy in order to maximize the number of people to reach?

A) Formulate the Linear Programming Model

Define the decision variables (0.5pt)

Write the objective function (0.5pts)

Write the constraints (1 pts)

B) Solve it using MS-SOLVER.

Write the total maximum number of people to reach, optimum solution, slack/surplus values, and binding/non-binding constraints. (3 pts)

Expert Solution

orchestra answered 2 years ago

University magazine agency wants to determine the best combination of two possible magazines to print for...

University magazine agency wants to determine the best combination of two possible magazines to print for the month of May. Star which the University has published in the past with great success is the first choice under consideration. Prime is a new venture and is a promising magazine. The university envisages that by positioning it near Star, it will pick up some spillover demand from the regular readers. The University also hopes that the advertising campaign will bring in a...

As an account executive for an advertising agency, you have been assigned to a new client,...

As an account executive for an advertising agency, you have been assigned to a new client, a company that has developed a new energy drink. As you begin development of the creative strategy, you are considering different types of ad execution formats and tonality: a. Comparative advertising b. A fear appeal c. A celebrity endorsement d. A slice-of-life ad e. Sex appeal f. Humor Outline the strengths and weaknesses of each of these appeals for advertising the new energy drink.

SLR/MLR model analysis topic: Is it always possible to get a model that is the best...

SLR/MLR model analysis topic: Is it always possible to get a model that is the best one and has all the best properties? Why or why not?

Bowie State University magazine agency wants to determine the best combination of two possible magazines to...

Bowie State University magazine agency wants to determine the best combination of two possible magazines to print for the month of May. Star which the University has published in the past with great success is the first choice under consideration. Prime is a new venture and is a promising magazine. The university envisages that by positioning it near Star, it will pick up some spillover demand from the regular readers. The University also hopes that the advertising campaign will bring in...

Sam Sung is evaluating a new advertising program that could increase electronic sales. Possible outcomes and...

Sam Sung is evaluating a new advertising program that could increase electronic sales. Possible outcomes and probabilities of the outcomes are shown below. Compute the coefficient of variation. Possible Outcomes Additional Sales in Units Probabilities Ineffective campaign............................ 80 .30 Normal response................................... 124 .50 Extremely effective............................... 340 .20

3. Suppose EMU Software is promoting its new tax preparation software. Its main competing product is...

3. Suppose EMU Software is promoting its new tax preparation software. Its main competing product is Turbotax’s software worth $50. EMU claims that for 30% of the time, its software identifies additional savings of $110 for their customers compared to its closest competitor. Also, EMU’s software is easier to use and it takes only 3 hours for its customer to use to complete all its tax preparations. Turbotax’s software on the other hand takes 4 hours to do the same....

Problem Set 2: A product developer wanted to know the preferred advertising strategy for a new...

Problem Set 2: A product developer wanted to know the preferred advertising strategy for a new toothpaste, and if it differs among three target demographic groups: 12-24, 25-40, and 40-60 year olds. There were two versions of advertisements for the toothpaste. Each person indicated their favorite version of the advertisement, as indicated in the table below. Did the preferred advertisement version differ by age group? (Note –conclusions may not be a good reflection of the data due to the small...

You are designing a new food delivery service that will use drones to get the product...

You are designing a new food delivery service that will use drones to get the product to customers faster. Think about who your target market would be? If drones are delivering the product you may have some limitations as to who you can deliver to so make sure you don't say that everyone is your target market. Pick a specific demographic group, using 3 demographics to identify them, and talk about how you would market to them. Will you reach...

. How does Market Segmentation define possible target markets? Illustrate a best practice to segmenting product...

. How does Market Segmentation define possible target markets? Illustrate a best practice to segmenting product markets. Provide lots of examples.

Myers Business Systems is evaluating the introduction of a new product. The possible levels of unit...

Myers Business Systems is evaluating the introduction of a new product. The possible levels of unit sales and the probabilities of their occurrence are given next: Possible Market Reaction Sales in Units Probabilities Low response 20 .30 Moderate response 35 .20 High response 45 .20 Very high response 60 .30 b. What is the standard deviation of unit sales? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Question