Business, 29.11.2019 07:31, jaceechesick

Management of the albert franko co. has established goals for the market share it wants each of the company’s two new products to capture in their respective markets. specifically, management wants product 1 to capture at least 15 percent of its market 1 and product 2 to capture at least 10 percent of its market. three advertising campaigns are being planned to try to achieve these market shares. one is targeted directly on the first product. the second targets the second product. the third is intended to enhance the general reputation of the product and its products. let x1, x2, and x3 be the amount of money allocated (in million of dollars) to these respective campaigns, the resulting market share (expressed as a percentage) for the two products are estimated to be: market share for product 1 = 0.25x1 + 0.1x3 and market share for product 2 = 0.15x2 + 0.1x3. a total of $110 million is available for the three advertising campaigns, but management wants at least $20 million devoted to the third campaign.

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Management of the albert franko co. has established goals for the market share it wants each of the...