How are media and advertising alike
Answers
They both can advertise stuff
B. Outdoor Media
Outdoor Media refers to any advertisement done outdoors in order to attract people's attention. It is also known as out of home advertising.
The most popular form of outdoor advertising are billboards. It also includes transit advertising where ads are displayed on trains, subways and other public transport system. Advertising at bus shelters, kiosks, benches and parking garages and street furniture and commercials at a movie theatre before the movies are also forms of outdoor advertising.
These days, there are different forms of digital outdoor advertising. These include pinging people through Bluetooth devices, and allowing people who pass by to play with the billboards.
The solution is given as such that ads run on Television, Radio and Online are 10, 4 and 10 respectively for the maximum audience of 1472000 such that the budget allocation is 14000, 1200 and 6000 between Television, Radio and Online respectively.
Explanation:
For the constraint analysis the data is given as below
Constraint Television Radio Online
Audience 100000 18000 40000
Cost $1400 $300 $600
Max Media 10 20 10
Let's suppose
the number of Television advertisements as Tthe number of Radio advertisements as Rthe number of Online advertisements as OSo the function to maximize is given as
Z=100000T+18000R+40000O
The constraints are
1400T+300R+600O ≤21200
T≤10
R≤20
O≤10
Radio advertisements must not exceed 50% of the total number of advertisements authorized.
R≤0.5(T+R+O)
In addition, television should account for at least 10% of the total number of advertisements authorized.
T≥0.1(T+R+O)
Using the following spreadsheet the solution is obtained using following steps
Data is entered as given in the attached screenshot.Than from the Data tab solver is selected and following values are arranged accordingly as shown in the screen shot. (if the solver option is not visible in the data tab, check whether the addon is available from the file>options>manage add-ons as shown in the screen shot. If the solver option is available, than from the Developer tab enable the option from Excel Add-ons and than you would be able to see the Data Solver tab)Input the different values as shown in the attached fileThe solution is given as such that
T=10
R=4
O=10
The total maximized audience is 1472000
The budget allocation is 14000, 1200 and 6000 between Television, Radio and Online respectively.
[tex]The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Curr[/tex]
[tex]The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Curr[/tex]
[tex]The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Curr[/tex]
[tex]The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Curr[/tex]
Westchester Chamber
Television Radio Online Audience
cost per advertisement $2,000 $300 $600
Number 100,000 18,000 20,000
Usage 10 20 10
Cost per audience $0.20 $0.33 $0.3
Rank 1st 3rd 2nd
Allocation of available budget
Available amount $31,100
Television (2000*10) (20,000)
Online Audience (600*10) (6,000)
Radio 5,100
Commercial message to be run
Television 10 times
Online Audience 10 times
Radio ( $5100/$300) 17 times
Explanation: