Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE SHOW HOW EXCEL WORKSHEET SHOULD LOOK AND BE ORGANIZED. I CANNOT FIGURE OUT HOW TO INPUT MY INFORMATION AND HOW TO RUN THE SOLVER

PLEASE SHOW HOW EXCEL WORKSHEET SHOULD LOOK AND BE ORGANIZED. I CANNOT FIGURE OUT HOW TO INPUT MY INFORMATION AND HOW TO RUN THE SOLVER WITH THE CONSTRAINTS TO GET THE ANSWER.
The Green Corporation is a software start-up company in need of a marketing plan for exposure in the marketplace. The Green Company has hired your marketing firm to assist in making these management decisions.Exposure Rating per Medium
Your marketing firm has provided the following information about the industry exposure effectiveness rating per ad, their estimate of the number of potential new customers reached per ad, and the cost for each ad in the table below.
Exposure Rating per Medium
Media
Exposure Rating
per Ad
New Customers
per Ad
Cost
per Ad
TV (first 10 ads)
100
5,000
$10,000
TV (more than 10 ads)
60
2,000
$10,000
Radio (first 15 ads)
30
3,000
$3,000
Radio (more than 15 ads)
25
1,500
$3,000
Internet (first 20 ads)
15
1,500
$1,000
Internet (more than 20 ads)
5
900
$1,000
The exposure rating is based on the value of the ad to potential new customers. It is a function of a variety of variables such as image, message recall, visual and audio appeal.
TV Exposure
As shown in the above chart, TV advertisement has the highest exposure effectiveness rating along with the greatest potential for reaching new customers up to the first 10 ads. Both the exposure rating and new customers per ad decrease for more than 10 ads but cost the same as the first 10 ads.
Radio Exposure
The next medium, radio, is more effective on both exposure and new customers per ad on the first 15 ads and decreases to the numbers shown in the chart above for more than 15 ads at the same cost per ad.
Internet
The last medium proposed, internet, is more effective on both exposure and new customer per ad on the first 20 ads, decreasing on both variables for ads of more than 20 at the same cost.
Budget and Guidelines
The Green Corporations marketing budget is limited to $300,000 in total. To balance the advertising campaign and make use of all advertising media, The Green Corporation management team also has adopted the following guidelines:
Use at least twice as many radio advertisements as television advertisements.
Use no more than 20 television advertisements.
The television advertising budget should be at least $150,000.
The radio advertising budget is restricted to a maximum of $105,000.
The internet advertising budget is to be at least $45,000.
At least 100,000 potential customers must be reached.
Your marketing firm has agreed to work within these guidelines and provide a recommendation as to how the $300,000 advertising budget should be allocated among television, radio, and internet advertising for the Green Corporation
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Project management

Authors: Harvey maylor

4th Edition

027370432X, 978-0273704324

More Books

Students also viewed these General Management questions