Question: Can somebody put this question into excel sheets? Suppose that Penny Chairs has three media options: radio, TV , and ads in Furniture World (
Can somebody put this question into excel sheets?
Suppose that Penny Chairs has three media options: radio, TV and ads in Furniture World an industry publication The table below provides information related to the costs, exposure values ie how many people see the ad and is typically derived from market research studies and limitations on the allowable number of ads in each medium desired by the firm. The company would like to achieve a total
exposure value of at least
CostAd Exposure:
Radio: $
TV: $
Furniture World: $
Exposure ValueAd:
Radio: $
TV: $
Furniture World: $
Minimum Units:
Radio:
TV:
Furniture World:
Maximum Units:
Radio:
TV: No Limit
Furniture World:
a What advertising mix should be implemented in order to minimize the cost of achieving the minimum required total exposure. Which constraints are binding? Why?
b Furniture World has instituted a policy where advertisers must run a minimum of ads and has raised the cost per ad to $ How will this change the mix of ads that Penny Chairs runs?
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