Question
In: Accounting
Golf Guide is seeking new customers through both direct mail and magazine ads. In a recent...
Golf Guide is seeking new customers through both direct mail and magazine ads. In a recent period, Golf Guide spent $25,277 on direct mail and spent $34,173 on golf magazine ads. The company gained 548 new customers through its direct mail and gained 805 new customers through its magazine ads. Calculate the overall cost per customer acquired for the combined program of direct mail and magazine ads. (Rounding: nearest penny.)
show step by step how you got the answer.
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Expert Solution
Answer includes required working.
Overall cost per customer acquired = $ 43.94 = Answer
--Working
| Working | Direct Mail | Magazine Adds | Total | |
| A | Cost incurred | $25,277 | $34,173 | $59,450 |
| B | Customers gained | 548 | 805 | 1,353 |
| C = A/B | Cost per customer | $ 46.13 | $ 42.45 | $ 43.94 = Answer |
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