Optimal advertising management, case study, S.T.B McCann, Accra

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The Knapsack problem model is a general resource allocation model in which a single resource is assigned to a number of alternatives with the objective of maximizing the total return. In this study, we applied the knapsack problem model to the placement of advert slots in the media. The aim was to optimize the capital allocated for advert placements. Our study focus on the use of a simple heuristic algorithm, developed by Amponsah and Darkwah (2009) for the solution of the knapsack problem. The algorithm was coded in Fortran 90. A walk through the algorithm with our model gave the computational iterative values for the various optimal values for the various optimal solutions. The software displayed the final optimal solution for the problem. This gave an optimal reach of one hundred and fifty three thousand people at the cost of ninety seven cedis as against one hundred and fifty two thousand people at the cost of ninety eight cedis from the crude method used by the company. In the study it was observed that computer applications in computation gives a systematic and transparent solution as compared to the arbitrary method and also management will benefit from the proposed approach for placement and selection of advert to guarantee optimal reach of people.
A thesis submitted to the School of Graduate Studies, Kwame Nkrumah University of Science and Technology, Kumasi, in partial fulfilment of the requirements for the award of the Degree of Master of Science in Mathematics.