Potential uses of Linear Programming in small enterprises : The case of allocating advertisimg expenses of a small service company in Crete
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XV, No.1, 2003, pages 179-193
Issue:
Pages:
179-193
Author:
Abstract:
One of the most important functions of enterprises is advertising as a means of systematically approaching specific market segments and informing prospective customers for their products, services or even their existence. The purpose of every advertising campaign is to achieve the greatest possible impact, to the market segments addressed, within the frames of a given budget and under a set of qualitative or quantitative constraints. The cost to benefit relationship of such a campaign is an important issue for every enterprise and in particular for small or medium ones. Linear programming can contribute towards the effective allocation of advertising expenses and the use of MS Excel Solver facilitates the solution of the resulting mathematical models. A method for the allocation of advertising expenses among available advertising vehicles using LP and Microsoft Excel’s Solver on actual data is described.
Subject:
Subject (LC):
Keywords:
Advertising, linear programming, allocation of advertising expenses
Notes:
JEL classification: C61, C81, C88
