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The Internet Radio budget is to be at least $35,000 MMM agreed to work with these guidelines and provide a recommendation as to how the
The Internet Radio budget is to be at least $35,000 MMM agreed to work with these guidelines and provide a recommendation as to how the $375,000 advertising budget should be allocated among the choices . Develop a linear programming model that can be used to determine the advertising budget allocation for Street Vibes . (HINT : you should define two variables for each media option (eg . S, = number of SiriusXM advertisements with rating of 100 and 4000 new customers and S2 = number of SiriusXM advertisements with rating of 65 and 1500 new customers , and so on ). Enter the problem into Excel and use Solver to solve for the optima solution In addition to the Excel file , also prepare an executive summary managerial report . The Executive Summary should be approximately 1 to 2 pages (plus Excel file ) and include the following sections : 1. (20 points ) Case Synopsis (include a brief summary of the case and the business issue (s) being studied ) (20 points ) Methodology (including a discussion of what information was provided and how you used this information to analyze the problem ) organize the available data and type out your full mathematical programming model including defining your decision variables 3. (40 points ) Findings and Conclusions (include summary of analysis results ) Based on your analysis, what is Street Vibes ' (complete ) optimal marketing decision ? A schedule showing the recommended number of SiriusXM , Social Media , and Internet Radio advertisements and the budget allocation for each medium . Show the total exposure rate and indicate the total number of potential new customers reached . Also address the following two questions : a. How would the total exposure change if $25,000 LESS were available in the advertising budget ? After reviewing MMM's recommendation , Street Vibes ' management team asked how the recommendation would change if the objective of the advertising campaign was to maximize the number of potential new customers reached . Develop the media schedule under this objective. Show the total exposure and indicate the total number of potential new customers reached (Assume total budget available is the original $375,000 .) 4. (20 points ) Recommendations What other factors need to be considered in making the recommendations ? Do you agree with the decisions from your quantitative analysis ? Why or why not ? Using both of these recommendations you made in the findings and conclusions section and your own management perspective (other issues to consider), what is your recommendation for Street Vibes' advertising campaign? You should also do some outside research on Digital Marketing campaigns and /or base your opinion on your knowledge and /or experience with Digital Marketing (be sure to site any outside sources used )
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