Trendline International Laces begins a Television (TV) advertising campaign in Nairobi to market a new type...

 

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Trendline International Laces begins a Television (TV) advertising campaign in Nairobi to market a new type of bootlaces. The proportion of the "potential customers" that buys such a product is normally a function of the duration of the advertising campaign. The TV station estimates this percentage (P), as a decimal, by using P(t) = 1- e-0.04t for this type of product, where t is the number of days of the campaign. The potential target market has approximately 1,000,000 people and the price per unit is Ksh. 50. Required If the advertising campaign costs Ksh.100,000 per day, how long should it last in (5 Marks) order to maximize profit. Trendline International Laces begins a Television (TV) advertising campaign in Nairobi to market a new type of bootlaces. The proportion of the "potential customers" that buys such a product is normally a function of the duration of the advertising campaign. The TV station estimates this percentage (P), as a decimal, by using P(t) = 1- e-0.04t for this type of product, where t is the number of days of the campaign. The potential target market has approximately 1,000,000 people and the price per unit is Ksh. 50. Required If the advertising campaign costs Ksh.100,000 per day, how long should it last in (5 Marks) order to maximize profit.

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