based on the file I attached I want a paragraph recommendation on what we did and you can see all our work in that file I attached I want recommendation based on what we did a paragraph only.
thanks best regards.
alright there`s the work:
Our company, Jacobs & Whybark (J&W), is here to help your company, West Coast Grille, plan an advertising campaign for the upcoming season. We developed an LP model to best determine and make recommendations for how you should allocate your advertising budget across television, radio and newspaper advertisements.
The following report presents an analysis and recommendations for your media mix for the upcoming season. In section 1, we describe the problem, the relevant costs, constraints, and objectives and mention the solution methodology we employ. In section 2, we present and discuss our results along with our recommendations. Tables, charts, and technical details are presented as separate appendices and referenced in the report.
Section 1
Problem:
West Coast is concerned with how to best allocate advertising to reach at least 100,000 new customers, with a budget of $279,000. Our company worked with the following constraints to provide recommendations on how to best allocate your budget.
Objective:
Maximize Profit: 90TV1 + 55TV2 + 25R1 + 20R2 + 10N1 + 5N2
Let R, TV, & N be the number of ads placed in radio, TV, and newspapers.
Let R1 denote the first 15 radio ads, and R2 denote ads thereafter.
Let TV1 denote the first 10 TV ads, and TV2 denote TV ads thereafter.
Let N1 denote the first 20 newspaper ads, and N2 denote newspaper ads thereafter.
Constraints:
Budget: 10,000(TV1+TV2) + 3,000(R1+R2) + 1,000(N1+N2)
Break Point: T1
4000TV1 + 1500 TV2 + 2000R1 + 1200 R2 + 1000N1 + 800N2 >= 100,000
(R1 + R2), (TV1 + TV2), (N1 + N2) >= 0
0=2TV1 + 2TV2 - R1 - R2
14
(R1 + R2)
(N1 + N2) >=20
Section 2
Results
The following schedule shows the numbers of television, radio, and newspaper advertisements we recommend West Coast Grill invest in. It also includes the budget allocation for each media outlet. We also calculated the total exposure and total number of new customers we reached. By allocating $279,000 our total exposure is 2,120 and we reached 124,700 new customers.
Advertising Media
Recommended Number
Budget Allocation
Total
Exposure
Potential new customers
TV1
10
$100,000
900
40,000
TV2
5
$50,000
275
7,500
R1
15
$45,000
375
30,000
R2
16
$48,000
320
19,200
N1
20
$20,000
200
20,000
N2
10
$10,000
50
8,000
Totals
76
$273,000
2,120
124,700
If you were to add an additional $10,000 to the advertising budget, making the budget $289,000, the total exposure would change as outlined below. The exposure would increase by 75, and the potential new customers reached would increase by 2,700 people.
Advertising Media
Recommended Number
Budget Allocation
Total
Exposure
Potential new customers
TV1
10
$100,000
900
40,000
TV2
6
$60,000
330
9,000
R1
15
$45,000
375
30,000
R2
17
$51,000
340
20,400
N1
20
$20,000
200
20,000
N2
10
$10,000
50
8,000
Total
78
$286,000
2,195
127,400
If the advertising campaign were to maximize the number of potential new customers reached, our recommendation would change…
The new media schedule would be:
Recommendations
Appendix
Tables, charts, etc.
Include the complete mathematical model here
Include Excel Spreadsheet
Insert Answer Report from Solver
Insert Sensitivity Report from Solver
