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A bank in Tasmania is deciding on how to design its next year's ad campaigns for a new banking product and can spend its
A bank in Tasmania is deciding on how to design its next year's ad campaigns for a new banking product and can spend its budget on buying spots in internet platforms, local TV, and print media. Information about each medium is shown below. Media type Internet platforms Cost per spot Audience reached Media Quality per spot 450 90000 40 TV Print media 150 350 2500 45 4500 35 The number of internet platform spots cannot exceed the number of TV spots by more than 5. The advertising budget of the bank is $15,000. Using the multi-step model formulation process, formulate the model that will maximize the audience reached and achieve a media quality of at least 2000. Show all workings and steps. You do not need to solve the model. (7 marks)
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