12/12/2019 0 Comments
Saving the Manatees - Case Study Example
Moreover, Tom had to look for sponsors to fund the advertising and campaigning costs. The national environmental protection agency donated 300,000 United States dollars to assist in creating public awareness about the bill and urge more people to vote for it (Ragsdale 137-138). A linear programming (LP) spreadsheet model would play a significant role in designing how to allocate the provided funds to different advertising agents. The spreadsheet model assists in determining the total impact of using various advertising agents, the total constraints, and the optimal solution. Description of the data The data from the spreadsheet consists of 3 columns. The first column C shows the cost per unit of the advertising medium used in U.S. dollars. The following data represents the objective variables. The objective variables work in maximizing or minimizing numerical values. The value presented on the objective cell is the expected net budget value of the project. The product of C and decision units I give the total cost of advertisement. The second set of data is represented by E showing per unit impact rate. This column represents the constraints. Constraints define any possible variable that a linear programming problem takes. In the data E provided, constraints represent percentage impact of using a certain medium for advertising. The next data is represented by G showing the minimum value of decisions made with the smallest advertising medium. On the other hand, column K presents data of the maximum decision a product of using large advertising mediums. Discuss the results After constructing the spreadsheet and doing calculations, the following results were arrived at. What is the optimal solution? The total impact rate was $23,515. The values for impact rate were arrived at by multiplying E with I. The total impact rate was used to calculate the optimal solution in order to decide which advertising medium would be more effective. From the model, the optimal solution was arrived at by the following calculation. X = 300,000/A (1+2+3+4+â€¦.n) + B (1+2+3+4â€¦n) =300,000/ (299,800 + 23,515) = 0.927 The following results indicate that 92.7% of the total budget would be well utilized by the advertising mediums proposed by Tom. The following turn out is very pleasing and Tom was likely to receive many votes towards the policy. Of the constraints tom placed on this problem, which are preventing the objective function from being improved further? On the other hand, Tom placed some constraints that prevented further improvement the objective function. The objective function on full-page Sunday paper and 30-second radio spot are in significant because they cost a lot and serve the same purposes as the half-page Sunday magazine and 15-second radio spot respectively. In addition, long magazine advertisements are sometimes boring and time consuming and most people by pass them. The absence of such constraints would give Tom an opportunity to incorporate other advertising mediums like online ads. The marketing consultant provided short TV ads during the evening prime-time hours as the most effective medium of advertising. Suppose Tom was willing to increase the allowable number of evening TV ads. How much would this improve the solution? Improving the number of evening TV ads would cause a positive effect on the advertisement and increase the value of $23,515 into a higher level. Increased evening TV ads increases the impact rate since a high number of
Write something about yourself. No need to be fancy, just an overview.