Posted: February 7th, 2022

You have the task of determining the optimal amount of advertising to purchase in order to maximize profit and most effectively utilize resources.

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Exp19_Excel_Ch06_Cap_High_West_Fashions
Exp19_Excel_Ch06_Cap_DirectMarketing
Project Description:
You are the digital marketing director for High West Fashions, a regional clothing company that specializes in custom t-shirts. Your company has decided to launch an online advertising campaign that gives customers the ability to purchase heavily discounted products. You have the task of determining the optimal amount of advertising to purchase in order to maximize profit and most effectively utilize resources.
Start   Excel. Download and open the file named Exp19_Excel_Ch06_Cap_DirectMarketing.xlsx. Grader has automatically added   your last name to the beginning of the filename.
On the Direct Marketing   worksheet, create appropriate range names for Design_Fee (cell B8), Cost_Per_Ad (cell B9), Total_Clicks (cell B10), Profit_Per_Click (B11), and Gross_Profit (cell B12).
Edit the existing name range   Design_Fee to Design_Fee2021 to reflect the current year.
Use the newly created range   names to create a formula to calculate Gross Profit (cell B12) and Net Profit   (cell B13).
Create a new worksheet named Range Names, paste the newly created range   name information in cell A1, and resize the columns as needed for proper   display.
Mac users, use the Insert menu to insert a new worksheet and paste the range   names.
On the Direct Marketing   worksheet, use Goal Seek to determine the optimal click rate in order to earn   a $5,000 net profit.
Starting in cell E4. Complete   the series of substitution values ranging from 2% to 6.5% at increments of .50% vertically down   column E.
Enter references to the Gross   Profit and Net Profit in the correct location for a one-variable data table.
Complete the one-variable data   table, and then format the results with Accounting Number Format with two   decimal places.
Apply custom number formats to   display Gross Profit   in cell F3 and Net Profit in cell G3.
Copy the response rate   substitution values from the one-variable data table, and then paste the   values starting in cell I4.
Type 10000 in cell J3. Complete the series of substitution   values from 10000 to 40000 at 5000 increments.
Enter the reference to net   profit formula in the correct location for a two-variable data table.
Complete the two-variable data   table and format the results with Accounting Number Format with two decimal   places.
Apply a custom number format to   make the formula reference appear as Net Profit.
Make the Direct Marketing 2   worksheet active. Create a scenario named Best Case, using Number of Ads and Click   Rate. Enter these values for the scenario: 40000, and 6.5%.
Create a second scenario named Worst Case, using the same changing cells.   Enter these values for the scenario: 10000, and 1%.
Create a third scenario named Most Likely, using the same changing cells.   Enter these values for the scenario: 10000, and 6.83%.
Generate a scenario summary   report using Gross Profit and Net Income.
Return to the Direct Marketing 2   worksheet. Load the Solver add-in if it is not already loaded. Launch Solver   and set the objective to calculate a net profit of $20,000.
Use Number of Ads and Click Rate   (B4:B5) as changing variable cells.
Set a constraint to ensure   Number of Ads purchased is less than or equal to 40,000.
Set a constraint to ensure Click   Rate is less than or equal to 7%. (Mac users should enter the value in decimal form. Example .07)
Solve the problem. Generate the   Answer Report.
Create a footer on all   worksheets with your name on the left side, the sheet name code in the   center, and the file name code on the right side.
Save and close Exp19_Excel_Ch06_CAP_DirectMarketing.xlsx.   Exit Excel. Submit the file as directed.

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