Part 4 of 5 5/10 points awarded Scored eBook Print References Required information Marketing Analytics: Calculating Return on Marketing Investment (ROMI) Fly Jet is an airline currently advertising through multiple media channels. They are interested in better understanding the profit their marketing efforts are generating by calculating the Return on Marketing Investment (ROMI) for each campaign. ROMI can be viewed in this setting as the ratio of new revenue generated by a given markting campaign to the cost of the related marketing campaign. In addition, it is worth noting that in this context the increase in revenue associated with a given marketing campaign (relative to the revenue observed prior to the launch of the associated campaign) is viewed as being driven by the related marketing campaign. Use the information provided below to calculate the ROMI for each marketing campaign. The equation for ROMI is as follows: ROMI (of a Marketing Campaign) = New Revenue Generated from a Marketing Campaign / Marketing Campaign Cost Revenue before each campaign: $24,000 Cost of television campaign: $6,000 Revenue after television campaign: $32,000 Cost of social media campaign: $24,000 Revenue after social media campaign: $60,000 Mc S 15 Part 4 of 5 5/10 points awarded Revenue after social media campaign: $60,000 Cost of website campaign: $10,000 Revenue after website campaign: $36,000 Complete the spreadsheet below and use it to answer the questions that follow. This activity is important because marketing managers need to know how to calculate and understand ROMI in order to optimize their investments in various marketing communications channels. The goal of this exercise is to test your understanding of ROMI by considering this example. Scored eBook A B C D Print 1 ROMI Campaign Cost New Revenue Generated by the Campaign References 2 Website Campaign $ 1.40 $ 10,000.00 $ 14,000.00 Fill out the mini-spreadsheet shown and use it to answer the following question: Your boss tells you that the company will not invest in another marketing campaign unless the ROMI is 1.40 or greater. Determine what the minimum amount of new revenue generated will need to be in order to meet an ROMI target of 1.40. $14,000.00 Explanation Show correct answ